The collaboration will enable various sectors, including businesses, financial institutions, merchant acquirers, payment service providers, and fintech companies, to utilize the innovative solution. Pomelo’s B2B platform facilitates seamless transactions through frictionless payments, merchant acquiring services, and more. As a flexible white-label solution, it enables organizations to accept popular international payment methods on behalf of their merchants or partners.
The partnership has broadened Pomelo’s portfolio, allowing businesses to integrate direct cryptocurrency acceptance via secure QR codes and payment links. This enhances the ease of payment for customers worldwide.
TripleA, licensed by Singapore’s Central Bank, serves as a white-label crypto payment gateway connecting users and non-users globally. Its features include instant confirmations, locked-in exchange rates, and real-time fiat conversions, enabling businesses to transact in cryptocurrencies without needing to hold or convert digital assets.
Luxury hospitality group Soneva was the first to leverage these services, thereby becoming capable of accepting Bitcoin and Ethereum across its resort properties. This move aligns with the company’s strategy to embrace digital payment methods.
Crypto payments worldwide
Often heralded as ‘the currency of the future,’ crypto payments are gaining traction. Nearly three-quarters of retailers anticipate incorporating either cryptocurrency or stablecoin payment options within the next two years, according to a June 2022 Deloitte survey.
To cater to this evolving landscape, numerous companies are now offering crypto payment solutions across different regions. For instance, Hong Kong’s digital payments provider AsiaPay has partnered with TripleA to facilitate cryptocurrency transactions for merchants in the Asia-Pacific area, tapping into a market of over 300 million potential users.
In recent developments, US-based Paxos, known for its cryptocurrency trading and custody services, obtained regulatory approval from the Monetary Authority of Singapore (MAS) in March 2022. Having been established in Singapore since 2012, this move signifies a strategic expansion into crypto offerings.