Crypto Payments Startup Bringing IOTA to Retail Stores

Zeux has teamed up with IOTA (MIOTA) to support crypto payments at retail stores that accept Apple Pay and Samsung Pay.

The London-based fintech firm plans to launch at hundreds of merchants in Europe in April, 2019 and in the US next year.

Founder and co-chariman at IOTA Foundation, David Sønstebø says,

“Now IOTA digital currency can be used as payment with merchants that accept Apple Pay and Samsung Pay. By combining existing technology with another form of currency,’’

According to Frank Zhou, founder and CEO of Zeux,

“As a distributed ledger with zero transaction fees, the Tangle is a very promising chain for us to build our customer data Dapp.”

Zeux recently added support for Qtum and Bitcoin SV (BSV).

Regulated by the UK’s Financial Conduct Authority (FCA), Zeux integrates banking, investing and payments on one app. The crypto-to-fiat solution charges customers no fees for crypto payment commissions or for opening an account, or making money transfers or top ups.

Zeux is one of many emerging blockchain-based payment solutions that are aiming to push digital assets into the mainstream, allowing shoppers to spend their crypto like cash.

Shoppers using Zeux will be able to go to a store, select their preferred cryptocurrency for purchases, and activate their Apple Pay or Samsung Pay against a merchant’s point-of-sale device. The merchant will then receive fiat, and the cryptocurrency will be deducted from the user’s Zeux digital payments wallet.