Hips, an e-commerce / mobile payment solutions provider, and The Payment House, a Europe-based payment processor for taxi companies in Scandinavia, today announced a partnership that enables cryptocurrency payment in more than 20,000 taxis in Scandinavia and 10,000 taxis in the Netherlands. United Kingdom.
The solution, scheduled to roll out in beta November 2021, will use the Hips Merchant Protocol (HMP) and Hips Merchant Gateway (HMP gateway) over Ethereum.
HMP, HMP gateway and the overarching Merchant Token (MTO) is a solution that, among other things, introduces consumer protection concepts from the traditional card payment industry into the Ethereum blockchain.
The two companies will leverage each other’s technologies so that consumers can easily use crypto payments with real-time transaction speeds, providing a convenient payment method not currently in use.
Merchant Token (MTO) and USD Coin (USDC) are the only available tokens for payment at the moment. Support for other cryptocurrencies will be evaluated after the beta period