Major merchant processor partners with startup to provide cryptocurrency payment option

December 05, 2018
Chris Wheal

Through its recent partnership with Vaultbank, merchant service provider SpotOn announced the integration of cryptocurrency payments into its systems.

crypto partnership

Founded in 2005, SpotOn provides payment hardware and software to merchants worldwide. Its client base includes companies like Subway, Anytime Fitness, Chick-fil-A, as well as a myriad of others.

Founded earlier this year, Vaultbank is a financial services company and platform used for the trade of cryptocurrencies. Given that SpotOn was a heavy contributor to Vaultbank’s initial funding seed, it comes as no surprise that SpotOn is now cashing in on its services.

Businesses using SpotOn’s products now have the option to accept payments of major cryptocurrencies including Dash, Ethereum, Bitcoin Cash, Bitcoin and Ripple. Through Vaultbank’s market, payments are conducted in a quick and secure manner. After a payment is received, businesses are also given the option either to exchange cryptocurrencies for dollars, or keep them as is.

As cryptocurrencies become more widespread and involved in our everyday life, SpotOn has made a wise choice in partnering with Vaultbank and offering customers this option. More payment options means an expansion of the customer base, and ultimately more profit.

Post written by Chris Wheal
Chris Wheal is editor of OpenLedger's news and features service. An award-wining business journalists himself, he runs a team of freelance journalists from across the UK and north America.

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