Crypto payments company Mercuryo has partnered with open payments gateway Volt to launch Open Banking payments within its cryptocurrency wallet.
Through the partnership, London-based Volt will facilitate the real-time account-to-account (A2A) payments to provide Mercuryo’s wallet users with single-click payment options via fiat currency.
This means that Mercuryo users will now be able to purchase cryptocurrency in real time via an Open Banking A2A transfer, with the funds leaving their bank account and their purchased cryptocurrency being deposited directly into their Mercuryo wallet “in a matter of seconds”.
Petr Kozyakov, CEO of Mercuryo, said: “Incorporating Open Banking payment methods was a natural next step for Mercuryo, putting consumers back in the driving seat when it comes to making crypto payments, whilst reducing the number of customer drop-outs for businesses due to previously lengthy bank transfer processes.”
Mercuryo recently expanded into Latin America and plans to open 10 more regional offices in 2022, in Africa, South America and Asia.
Jordan Lawrence, co-founder and CBDO of Volt, said the partnership represents a “turning point” in the relationship between fiat currencies and digital assets.
“The ability to instantly take advantage of crypto prices via a real-time payment transfer not only ensures price transparency and trust, but encourages interoperability between currencies,” Lawrence added.
“Mercuryo are forward thinking in everything they do and this is a giant leap for user adoption of Open Banking and digital assets. Volt is really excited to join forces with Mercuryo.”
Volt enables merchants and PSPs to process payment transactions between accounts held at more than 5,000 banks in the UK, EU and Brazil. This month, it announced the appointment of PayPal’s Matt Komorowski as its new chief revenue officer.