SpotOn, a provider of payment processing solutions, has aligned with Vaultbank, a tech company, to provide crypto payments solution to retail customers.
As reported, SpotOn will soon add the crypto payment solution to its platform. This will allow retailers to accept a wide range of digital currencies such as Bitcoin Core, Ripple, Ether and Stellar. The customers will be able to make payments using their cryptocurrencies. While merchants will have the options to either convert the crypto payments to fiat or hold it as it is.
RJ Horsely, the president of SpotOn, has stated that the platform will give the SpotOn merchants an easy to use crypto payments solution with which they can convert the funds into fiat. SpotOn is also planning to introduce a crypto-based loyalty rewards program and the ability to buy and sell crypto directly on its platform.