HomeNewsIOTA and Shimmer Networks Thrive with Mosquito Pay's Game-Changing Crypto Transactions

IOTA and Shimmer Networks Thrive with Mosquito Pay’s Game-Changing Crypto Transactions

- Advertisement -
  • Mosquito Pay partners with Touchpoint Open Builders Program, enhancing blockchain-aided payments both online and offline through IOTA and Shimmer mainnet.
  • The initiative is poised to bridge the conventional and digital payment realms, bringing programmable money to the forefront.

Mosquito Pay, a pioneer in blockchain-based payment solutions, has recently amalgamated with the Touchpoint Open Builders Program. The union is anticipated to accentuate the ease of manual and automated payments through the IOTA mainnet and Shimmer network respectively, marking a substantial stride in the realm of programmable money.

- Advertisement -

Bridging Real and Digital Payment Dimensions

The essence of Mosquito Pay is to facilitate manual payments via computer or smartphone on the IOTA mainnet. This could span a spectrum of use-cases including online shopping, in-store transactions, or in-app and in-game purchases. Parallelly, the Shimmer network is set to host automated machine-to-machine payments through smart contracts.

This venture is geared towards harnessing the first-mover advantage, aiming for mass market adoption. Mosquito Pay is engineered to support an array of payment types including fiat, digital, and automated payments. It strives to provide a secure, swift, and reliable medium for cryptocurrency transactions, serving as a conduit between buyers and sellers. One of its intriguing features is the ‘Pay With IOTA‘ plugin which can be sampled at their test site.

Utilizing the prowess of Shimmer, Shimmer EVM, and multi-chain technology, Mosquito Pay envisages a future where blockchain monetary transactions are seamlessly integrated into both digital and physical realms. Illustrations of such integrations include Electric Vehicle charging stations, car parks, and smart metering devices, portraying a landscape where blockchain technology mitigates the frictions traditionally associated with monetary transactions.

- Advertisement -

Key benefits that Mosquito Pay brings to the table include:

  1. Substantial fee reduction for sellers, especially in micro-transactions below 10 euros, compared to traditional FinTech or credit card payment providers.
  2. Leveraging programmable money to automate daily monetary interactions in smart cities, thus economizing time, energy, and resources.
  3. Providing a shield against the volatility often associated with cryptocurrencies, by offering a feature to swap volatile assets for stablecoins automatically, thus ensuring retailers are insulated from unpredictable market swings.

Launched in 2019, Mosquito Pay now boasts an eleven-member squad with diverse expertise spanning mechanical engineering to legal and financial domains. They collaborate with IOTA and Shimmer ecosystem projects, with an ambition to burgeon as a Software-as-a-Service provider in the emergent field of programmable money.

Mosquito Pay heralds a future where the transactional boundary between the digital and physical world is blurred, thus amplifying the use-cases of cryptocurrencies in day-to-day transactions. This partnership with Touchpoint Open Builders Program is a testimony to the unfolding narrative of blockchain technology morphing into a mainstream transactional framework. The venture is already on a trajectory towards real-world adoption, with an eye on integrating with points of sale that accept an array of cryptocurrencies alongside traditional payment modes.

- Advertisement -
Jack Williams
Jack Williams
As a Blockchain Analyst, I specialize in analyzing the performance of decentralized systems and optimizing their efficiency. Through data analysis, I provide insights on blockchain technology, smart contracts, and cryptocurrencies to help businesses make informed decisions and improve their operations.
- Advertisment -spot_img