Colombian Food Delivery App to Accept Payment in Crypto

A Colombian delivery app that operates in Latin America has partnered with BitPay and Bitso to accept payment in crypto.

With the inexorable rise of digital assets, many merchants and firms have been taking a closer look at their underlying technology. And Rappi is one the latest firms to test crypto payments, according to a Reuters report.

“It’s a first step that will allow us to learn and continue incorporating the crypto world into Rappi,” said Sebastian Mejia, the company’s president.

Colombian company also offers financial services

Currently, the firm operates in 200 cities across nine countries. Rappi has 10 million monthly active users and has been serving customers since 2015. The Colombian company also offers financial services in Chile, Mexico, Peru, and Brazil.

Rappi’s latest partners are not new to the crypto ecosystem. Bitso is a Mexico-based cryptocurrency exchange that has been operating since 2014. The platform is the core crypto-service provider for Chivo, the digital wallet developed by the government of El Salvador for the use of bitcoin throughout the country.

And BitPay is a Bitcoin payment service provider based in the United States. Rappi is not the firm’s first crypto-related partner. In Sep 2021, BitPay teamed up with Verifone Holdings to provide crypto payments for the electronic payments provider.

Since there are many well-known merchants using Verifone’s technology, this partnership allowed many of the brands have easier access to the next generation of money.

Another big name to join the movement is Stripe, a payment provider for e-commerce businesses and mobile apps. 

The company supported Bitcoin payments until 2018 but discontinued them due to high transaction fees. Last month, however, Stripe restarted digital currency payments.

Co-founder John Collison tweeted that the company would offer crypto businesses “not just pay-ins but payouts, KYC and identity verification, fraud prevention and lots more.”