Companies join forces to integrate crypto-to-fiat gateway with commerce platforms
ForumPay, a leading payment gateway solution that brings together crypto consumers and traditional merchants, and Sionic, a leading provider of connected and mobile commerce services for merchants, today announced a partnership to expand the reach of crypto-to-fiat interchangeable payments to merchants and consumers across the U.S. via mobile and digital commerce channels, enabling millions of consumers to pay with their crypto wallets for everyday goods and services online and at the point of sale.
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“We’re very excited to partner with ForumPay to offer our merchants large and small a safe and simple way to tap the more than 170 million globally active crypto wallet users online or at the point of sale”
Through this partnership, ForumPay will provide tokenized, end-to-end payment gateway processing services for crypto via Sionic’s digital commerce platforms. The companies will focus on supporting both enterprise and small to medium-sized businesses (SMB) by integrating ForumPay’s gateway into Sionic’s ULink™ connected commerce and ION Commerce Engine® (ICE) mobile platforms, allowing merchants across the country to accept crypto from millions of consumers using Google Search, mobile apps, and in-vehicle interfaces. Consumers paying via ULink or through ICE-enabled mobile apps simply select their preferred coin, scan a QR code or click the payments link, and the payment is instantly completed. ForumPay’s payment gateway converts virtually any crypto into U.S. Dollars instantly for no-delay deposits into merchants’ preferred bank accounts.
“We’re excited to be opening crypto-to-fiat gateway services in the U.S. by partnering with Sionic,” said Josh Tate, co-founder and CEO of ForumPay. “Instant price determination makes crypto scalable against credit cards and we recognize the value of being able to offer this to merchants to attract new customers and increase sales. Giving millions of crypto wallet users access to merchants via Sionic’s digital and mobile commerce platforms supports our mission to enable and encourage the mass adoption of crypto in a payments environment.”
For U.S. merchants, ForumPay provides something unique to the market with instant conversion of crypto into U.S. Dollars without exchange risk, chargebacks or risk of identity theft.
ForumPay is a seamless and secure payment solution that provides merchants with access to new crypto customer streams, without the hassle of dealing directly in cryptocurrency. Data shows that there are more than 3.4 trillion cryptocurrency transactions that occur per year, so this presents a substantial opportunity for merchants. Sionic merchants simply opt-in to begin accepting ForumPay crypto-to-cash deposits.
“We’re very excited to partner with ForumPay to offer our merchants large and small a safe and simple way to tap the more than 170 million globally active crypto wallet users online or at the point of sale,” said Ronald Herman, founder and CEO of Sionic. “Typically, 40% who pay with crypto are new customers providing an incredible customer acquisition opportunity for merchants. And, the cost to accept crypto is usually the same or less than traditional credit card payments.”
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