New Partnership enables CRYPTO CURRENCY trial in over 10,000 UK taxis

HIPS Payment Group Ltd and The Payment House have announced a new partnership, which will enable payment with crypto currency in over 10,000 taxis in the UK and 20,000 taxis in Scandinavia.

The two companies will use each other’s technologies so that passengers using cabs can easily use crypto payments at real-time transaction speeds, offering a convenient payment method not currently in use.

The crypto payment solution, which is planned to roll out in beta test version in November 2021, will use the Hips Merchant Protocol (HMP) and Hips Merchant Gateway (HMP-gateway) over Ethereum.

John Cavebring, CEO of Hips, said: “With this important partnership, Hips provides another avenue for crypto payments to have market penetration. The consumer-oriented features of the MTO will further allow crypto currency to gain worldwide mass-adoption among mainstream consumers.”

Staale Reiersen, Group CEO of The Payment House, said: “We are pleased to partner with Hips, as this new payment convenience will enable taxi companies to seize more opportunities in the new economy. This partnership takes payment processing to the next frontier for transaction services.”

Merchant Token (MTO) and USD Coin (USDC) will be the only tokens available to pay with at this time. Support for other crypto currencies will be evaluated after the beta time period.