Payroc, LLC, a leading merchant services and payment processing organization, and Ethos.io PTE, a leading cryptocurrency services platform, today formally announced their partnership to create a best-in-class cryptocurrency merchant payment processing service.
The Ethos Bedrock platform will be integrated with Payroc’s payment gateway platform, enabling a simple “Pay with Crypto” button to be placed on merchant websites, giving consumers the option of paying with cryptocurrency in addition to traditional payment forms. The companies made their partnership intentions known late last week during Digital Currency Con in Park City.
“We're excited about partnering with Ethos as it brings together the traditional payments world Payroc operates in with new digital currencies,” said Jared Poulson, chief integrations officer for Payroc. “Our merchants will be able to accept payments via traditional credit cards, ACH, PayPal and now popular cryptocurrencies,” added Poulson. “We have been tracking Ethos for quite some time. Their commitment and vision of bringing the benefits of blockchain technology to the mass market aligns with Payroc’s culture of innovation, trust and stability.”
The partnership will facilitate direct consumer-to-merchant crypto payments, encompassing common cryptocurrencies such as Bitcoin, Ethereum and Bitcoin Cash, as well as the Ethos token which acts as the gas for the Ethos ecosystem. Ethos Bedrock also abstracts blockchains, and therefore can support other cryptos such as Ripple and Litecoin.
Benefits to participating merchants include instant crypto payments and settlement made directly from consumer crypto wallets, plus immutable transactions with no chargeback risk. Consumer benefits include the opportunity to pay from mobile devices in cryptocurrency with the security and convenience of Ethos Universal Wallet’s easy-to-use, decentralized self-storage that keeps tokens, coins and digital assets safe and secure on the blockchain.
“Payroc is a stable, trusted and visionary partner,” said Ethos Chief Executive Officer Shingo Lavine. “Ethos is dedicated to bringing cryptocurrency to the masses, and partners such as Payroc are an integral part of our delivery.”