Swapin, formerly known as Piixpay, is looking to make it easier to send crypto payments, according to a CryptoPotato report on Sunday, April 24.
Swapin, a crypto-fiat payment processor, rebranded itself in late March alongside the announcement of a new product roadmap. According to the report, the company is working to connect “the crypto industry of tomorrow and the traditional fiat world we live in today,” making it easier to use crypto as a standard payment method.
The report adds that Swapin connects crypto users to their bank accounts and offers solutions with business-to-business (B2C) and business-to-business (B2B) work, allowing merchants to accept payments from customers in crypto via a shareable link generated through the CoinCoinCollector tool.
The company also offers another tool called E-com, which does something similar through an embeddable widget. The tools allow traders to get paid in crypto, and there is an equal amount of fiat deposited in an associated IBAN account, according to the report.
Swapin allows online bill paying, setting up things like recurring payment details, reminders, and more. Additionally, the report noted that users can easily withdraw their crypto, by transferring the funds to a connected bank account. Along with these tools, the company said it has a “renewed brand vision” that can push things forward in the digital asset space.
Earlier this month, PYMNTS wrote that Swapin closed a private equity round, raising €1.68 million ($1.85 million) to meet its targets. The funds will help it increase its market share and support the rollout of two B2B products, which would support new developments.
Read more: Crypto-to-Fiat Processor Swapin to Scale B2B Products with $1.85M Funding Round
The company also wants to roll out a new website and app to help bring clarity to B2C and B2B services, working to bridge the gap between companies working with fiat and cryptocurrency users.
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NEW PYMNTS DATA: THE FUTURE OF BUSINESS SUPPLIER INNOVATION STUDY – APRIL 2022
On: While more than half of SMBs believe an all-in-one payment platform can save them time and improve cash flow visibility, 56% believe the solution could be difficult to integrate with AP systems and existing ARs. The Future Of Business Payables innovation report, a collaboration between PYMNTS and Plastiq, surveyed 500 SMBs with revenues between $500,000 and $100 million to explore how all-in-one solutions can exceed customer expectations. SMEs and help sustain their activities.
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