- Rappi will reward clients with crypto credits that they may use later.
- Latin America has seen a steady rise in the use of cryptocurrencies.
Food and product delivery on-demand app with Colombian roots Rappi, operating throughout Latin America, has added crypto payments to its services in Mexico. On Monday, a report said that Rappi would be partnering with Bitpay and Bitso to take cryptocurrency payments.
Incorporating Crypto World
Although the delivery firm did not specify which specific cryptocurrencies it plans to take, it is safe to assume that Bitcoin will be included. In addition, Rappi will reward clients with crypto credits that they may use later.
Sebastian Mejia, Co-founder & President at Rappi, said in a statement:
“We are studying the crypto world with interest and believe that the future is the intersection of the crypto world with non-crypto companies. It’s a first step that will allow us to learn and continue incorporating the crypto world into Rappi.”
Rappi provides delivery and financial services in Mexico, Brazil, Chile, Peru, and nine other Latin American nations. Digital banking will be available in Colombia later this year, according to the company’s plans. With the introduction of ‘Pay with Rappi’ in Mexico, the firm is targeting the likes of Mercado-Libre and Uber in the area by providing online payment options through the PayPal platform in the country in 2021.
Latin America has seen a steady rise in the use of cryptocurrencies and the underlying blockchain technology. Cryptocurrency transactions and payments are becoming more popular, partly because they are quick and cost less. Cryptocurrency usage is permitted under legislation enacted in Brazil, Venezuela, Argentina, and Chile. All cryptocurrencies are subject to income tax in Brazil and Argentina.