Swapin, formerly known as Piixpay, is looking to make it easier to send crypto payments, according to a CryptoPotato report Sunday (April 24).
Swapin, a crypto-to-fiat payment processing company, rebranded itself in late March alongside the announcement that had created a new product roadmap. According to the report, the firm works to connect the “crypto industry of tomorrow and the traditional fiat world we live in today,” making it easier to use crypto as a standard payment method.
The report added that Swapin connects crypto users to their bank accounts and offers solutions with business-to-consumer (B2C) and business-to-business (B2B) work, letting merchants accept payments from customers in crypto via a sharable link generated through the “CoinCollector” tool.
The company also offers another tool called E-com, which does something similar through an embeddable widget. The tools let merchants get paid in crypto, and there’s an equal amount of fiat deposited into an IBAN account associated, per the report.
Swapin allows for paying bills online, setting up things like recurring payment details, reminders and other things. Additionally, the report noted that users can easily cash out their crypto, moving the funds to a connected bank account. Alongside these tools, the company said it has a “renewed brand vision” that can help things along in the digital asset space.
Earlier this month, PYMNTS wrote that Swapin closed a private investment round, raising €1.68 million ($1.85 million) toward its goals. The funds will help it increase its market share and support the rollout of two B2B products, which will reportedly support new developments.
Read more: Crypto-to-Fiat Processor Swapin to Expand B2B Products With $1.85M Funding Round
The company also wants to roll out a new website and app to help add clarity between B2C and B2B services, working to help close the gap between businesses working with fiat and cryptocurrency users.
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NEW PYMNTS DATA: THE FUTURE OF BUSINESS PAYABLES INNOVATION STUDY– APRIL 2022
About: While over half of SMBs believe that an all-in-one payment platform can save them time and improve visibility into cash flows, 56% believe that the solution could be difficult to integrate with existing AP and AR systems. The Future Of Business Payables Innovation Report, a PYMNTS and Plastiq collaboration, surveyed 500 SMBs with revenues between $500,000 and $100 million to explore how all-in-one solutions can exceed SMBs’ expectations and help future-proof their businesses.
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