Saturday , October 23 2021

Colombians can process payments with crypto-coins and receive pesos directly | CryptoNews


Cobru, a payment application that operates in Colombia, has made an alliance with those responsible for Xpay, the payment solution to manage crypto-coins created by the Panda Group, so that its users receive payments in crypto-assets such as bitcoin, bitcoin cash and dai.

The joint work of Xpay and Cobru allows this payment application to offer crypto-coins as one of the available options. According to a press release published by Xpay on June 7, This integration aims to encourage the adoption and growth of the popularity of cryptoactive in Colombia. and also beyond its borders.

According to the Panda Group CTO, Typson Sánchez, this is the second integration of Xpay with a traditional payment processor, after the alliance with the Smart Payments startup.

For him, this type of business is attracted by the potential of crypto-coins, hence the quest to seal such alliances. «They seek to expand the possibilities in which customers make payments, as well as being technologically advanced over other payment processors.", He said.

With the integration of Xpay, Cobru expands the range of possibilities for its users, adding the BTC and two of the main altcoins of the market, BCH and DAI. Both traders and individuals can accept encrypted coins and receive funds directly in Colombian pesos in their bank accounts. Likewise, they can recharge their Cobru balance with crypto-coins and pay for services like cable television using these funds directly.

The conversion process is automatic. The user Cobru has his weights available in his portfolio as long as the client completes the payment.

Typson Sánchez, CTO, Panda Group

The Cobru application is available for both Android and iOS and allows users to receive payments through PSE and QR codes, and can process payments with debit or credit cards without the need for a point of sale or phone line. In addition, cash payments can be received through platforms such as Baloto and Efecty.

The application charge has a rate of 5% on each transaction, with a minimum of COL 20,000 and a maximum of COL 1 million. Withdrawals have a cost of COL 5,000 and a minimum amount of COL 10,000. Cobru users can send funds to other members completely free.

The CEO of the exchange house Panda Exchange, Arley Lozano (VaKaNo) informed CriptoNoticias that this application works as an OTC exchange this does not conflict with Colombian regulations, since each user receives an invoice after using the service. In addition, any resident of Venezuela can register with Xpay and negotiate with the local currency, according to the invoice system in the VES.

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