Wallettec Partners With BitPay to Provide OTC Bitcoin Transactions in South Africa

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Wallettec Partners With BitPay to Provide OTC Bitcoin Transactions in South Africa

In an announcement South African Company Wallettec has said that it is excited to announce a new partnership with BitPay to provide over the counter Bitcoin transactions for customers in South Africa. BitPay is one of the largest Bitcoin payment processing company and Bitcoin Payments, a South African BitPay Affiliate.

According to the announcement with the latest partnership the company would be able to enable Bitcoin payments in the Wallettec system, making it instantly available to any payment system that is integrated with Wallettec. This is a first in South Africa and expected to make its presence felt among Bitcoin users in the country.

Johan Meyer, founder of Wallettec says that his company has a mission wherein it aims to become a single interface point between the POS or payment solution and any mobile or e-wallet solution. Wallettec, a SAAS service which allows any wallet company to interface with any payment solution or POS has set higher targets for itself.

He further said that he believes that by developing a single solution that benefit all mobile wallets will not only be a good business model for his company but it will improve the mobile money market in Africa and the rest of the world. According to him Bitcoin to the Wallettec system means it can grow Bitcoin acceptance in brick-and-mortar retail locations.

Benefits Associated With Bitcoin Transactions Prompt Customers and Companies

Johan Meyer added that this partnership allows ecommerce and retail merchants to easily accept Bitcoin payments and by allowing customers to pay at the POS using Bitcoin will increase merchant sales and earnings to a great extent. He says that as Bitcoin expands, merchants can earn money on Bitcoin sales and save money by reducing credit card payments.

Nonetheless, he firmly believes that merchants will pay less credit card fees and commissions, and increase their bottom line profits which Bitcoin catches the momentum among the South Africans. Also, not only will merchants save on fees and commission but also eliminate the risk of credit card fraud or chargebacks.

Bitcoin has become popular as with it consumers save money and merchants make money by paying less commission and reducing their risks. Wallettec which has been working as the link at the point of sale that was always the missing part of the puzzle the exciting and efficient use of mobile wallets and digital currencies like Bitcoin realizes the scope and potential.

To contact the reporter of this story: Deepak Tiwari at deepak@forexminute.com