CITCON, the payment gateway provider that offers in-store, online, and mobile payment solutions to over 6,000 brands across the globe, has partnered with Flexa, the “pure-digital” payments network, in order to enable merchants with accepting cryptocurrencies as a payment option.
Merchants connected to Citcon will now have the option to accept many different virtual currencies supported on the Flexa network. They include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Dogecoin (DOGE).
Merchants who accept crypto payments via Flexa are “guaranteed” fraud protection or loss from “the time of authorization, all at no extra cost,” the announcement noted,
As mentioned in the update, these options should empower clients by allowing them to use virtual currency payments with “virtually no overhead, at the lowest cost, and while enabling merchants to receive settlement in US dollars or the digital currency of their choice.”
The crypto markets had surged to a record of nearly $2.5 trillion this year (but now going through a massive correction). The Bitcoin and Ethereum price (along with other altcoins) have also increased considerably, year-to-date.
Chuck Huang, CEO and Founder at Citcon, stated:
“We are excited to expand our crypto capabilities by partnering with Flexa. Enabling digital currencies to make purchases at businesses around the world helps to push forward the development of the future of payments. The partnership with Flexa allows our merchants to accept digital currencies so that brands around the world can access the expansive spending power of cryptocurrency holders.”
Trevor Filter, co-founder of Flexa, noted:
“Merchants are at the center of Flexa’s approach to payments, which is why we’re delighted to support Citcon in strengthening their suite of merchant-friendly payment offerings.”
Through the partnership, Citcon and Flexa aim to support consumers with “real utility” for their virtual currency holdings at online and offline retailers in a contactless way.
Matthew Greenbaum, VP of International Shoppes (IShoppes), remarked:
“Since 2017, Citcon has helped us integrate many global payment wallets in our shops, to the delight of our customers. IShoppes has survived and thrived over its nearly 70 year history by always embracing the future. We look forward to launching cryptocurrency payment to our shops this year to create the next level of retail excitement to our luxury shoppers.”
IShoppes is a New York–based “specialty” retailer that “operates airport retail and duty-free facilities throughout the U.S,” the announcement noted.
Citcon is a mobile payment firm founded in 2015. Citcon developed payment infrastructure to enable mobile wallet and alternative payment consumers “to shop and pay anywhere, anytime around the world.”
During the past 3 years, Fortune 1000 companies such as L’Oréal, Hermes, Texas Instruments, Nordstrom, Caesars Entertainment, MGM Resorts, Revolve, Tumi, Samsonite, and Blue Nile have reportedly chosen Citcon’s mobile payment solutions to expand their payment and commerce infrastructure.
Citcon is based in Silicon Valley and has 5 regional offices in the US, Canada, Europe, and Asia.
Flexa specializes in offering pure-digital payments. It provides merchants and developers with integrations for digital currency acceptance that are “fast, affordable, and completely fraud-proof.” Established in 2018, Flexa’s goal is “make payments more efficient and accessible for people all over the world.”