While originally designed for the automotive sector in early 1990s Japan, QR codes have since gained widespread adoption across diverse industries worldwide. Fueled by the ubiquity of smartphones, the demand for contactless transactions, and a growing need for financial inclusion, the QR code payment market is experiencing remarkable growth, with Asia leading the charge in adoption and innovation. The year 2011 marked a pivotal moment in the global payments landscape. It was then that Alipay, a Chinese fintech giant, pioneered the use of QR codes for digital transactions. This innovation proved to be a game-changer, setting in motion a revolution that would transform how consumers pay and businesses receive payments in numerous markets worldwide. Nowhere is this transformation more evident than in China itself. A mobile payments powerhouse, China has wholeheartedly embraced QR code technology. The remarkable reach of QR codes is further underscored by the fact that by the end of 2022, over 95% of mobile phone users in China relied on them as their primary payment method, with over half utilizing them even for public transportation fares. This widespread adoption is a testament to the convenience, accessibility, and deep integration of QR code technology within Chinese society. India, too, has witnessed an unprecedented surge in QR code payment adoption, fueled by its innovative Unified Payments Interface (UPI) system. Built on a robust QR code infrastructure, UPI has revolutionized digital payments in the country, recording over 10 billion transactions in a single month (August 2023), showcasing its widespread acceptance and ease of use. According to NPCI statistics, the number of UPI QR codes that are currently in use has grown by 41% in 2023 compared to 2022, and 145% since 2021.

The data paints a compelling picture of this revolution. The global QR code payment market, valued at USD 10.4 billion in 2023, is projected to reach an impressive USD 45 billion by 2032, demonstrating a robust compound annual growth rate (CAGR) of 15% over the forecast period, according to Global Market Insights. This remarkable trajectory is driven by a confluence of factors that have converged to create the perfect storm for QR code payment adoption such as the increase in the number of mobile users, the COVID-19 catalyst, and a huge demand for financial inclusion.

Southeast Asia: The Next Frontier for QR Code Payment Innovation

Around 2016-2017, Southeast Asia found itself at a critical juncture in its digital evolution. While eager to embrace the digital economy, the region faced persistent challenges that hindered progress. Large segments of the population remained unbanked or underbanked, traditional card penetration was low, and cash reigned supreme, even for online transactions. Legacy banking infrastructure struggled to keep pace with the demands of a rapidly digitizing society. As QR code payments gained traction in markets like China—which shared a similar context of high mobile penetration and a need for accessible financial solutions—Southeast Asia saw an opportunity. The region recognized the potential of this technology to address its unique challenges and unlock the full potential of its digital economy. This realization sparked a surge in QR code payment adoption across Southeast Asia, fueled by several key factors:

1. A Mobile Revolution Unleashes the Power of QR Codes

The surge in smartphone adoption across Southeast Asia has been nothing short of transformative, creating a fertile ground for the rise of QR code payments. In just a few short years, the number of smartphone users in the region skyrocketed from 498 million in 2017 to over 675 million in 2022, representing a remarkable 82% of the population, according to a Boston Consulting Group study. This mobile revolution has placed the power of digital payments directly into the hands of millions of Southeast Asians. As access to affordable smartphones has become more widespread, so too has the adoption of convenient and user-friendly payment methods like QR codes. This trend is particularly pronounced among younger generations, who are accustomed to the seamless nature of mobile-first experiences and are driving the demand for digital payment options. The rapid proliferation of smartphones has not only created a massive potential market for QR code payments but has also laid the groundwork for a fundamental shift in payment preferences across the region.

2. The Pandemic: A Catalyst for QR Code Payment Adoption

The COVID-19 pandemic, while disruptive on a global scale, became an unexpected catalyst for the widespread adoption of digital payments, including QR codes, in Southeast Asia. More than half (56%) of Southeast Asian consumers reported using cash less frequently after the pandemic, signaling a significant shift in payment preferences. Indonesia and Vietnam, two of the region's most populous nations, accounted for nearly two-thirds of these consumers, highlighting the widespread nature of this change. This decline in cash reliance coincided with a rapid uptake in digital payment solutions. One-third (33%) of consumers embraced e-wallets, while over a quarter (26%) used QR code payments for the first time during the pandemic, demonstrating a growing comfort and familiarity with these technologies.

After a decade of steady growth, QR code payments have become one of the most popular electronic payment methods in Southeast Asia. With over 80 e-wallets connecting over 205 million users and 25 million merchants across the region, the infrastructure for a digital payments-driven economy is firmly in place. Indonesia, in particular, stands out as a regional leader, boasting over 90 million users and 15 million merchants engaged in e-wallet and QR code transactions.

3. Cost-effectiveness of QR Code Payment

Unlike traditional point-of-sale (POS) systems, which often come with a hefty price tag—including installation fees, merchant discount rate (MDR) charges, and ongoing maintenance costs—QR codes offer a refreshingly low-cost alternative. Merchants can simply print and display a QR code, eliminating the need for expensive hardware, complex setup procedures, and ongoing fees. This affordability has been a game-changer for small businesses and street vendors across Southeast Asia, allowing them to accept digital payments without incurring significant financial burdens. QR code-based e-wallets are also remarkably accessible for consumers. Opening and operating an account is typically a quick and straightforward process. This stands in stark contrast to the often cumbersome and exclusionary process of opening a traditional bank account or applying for a credit card, which can be a significant barrier for many in the region.

4. Southeast Asia's Digital Economy Boom

Southeast Asia's economy is booming, and its digital sector is leading the charge. Projected to grow from US$3.8 trillion to US$20 trillion by 2047, ASEAN's economic expansion is fueling a parallel surge in digital payments. The region's digital economy itself is experiencing explosive growth, with its gross merchandise value (GMV) growing from US$102 billion in 2019 to US$194 billion in 2022, driven largely by e-commerce. This rapid digitization, coupled with the ASEAN Digital Economy Framework Agreement (DEFA), has the potential to propel the digital economy to a staggering US$2 trillion by 2030. This thriving digital economy is intrinsically linked to the rise of digital payments, including QR codes. As more consumers and businesses engage in online transactions, the demand for secure, convenient, and accessible payment methods is skyrocketing. QR code payments, with their ease of use and low cost, are perfectly positioned to capitalize on this growth, becoming an integral part of Southeast Asia's digital transformation.

5. Fast Growing in Fitech E-wallets

Southeast Asia, with its youthful demographics, tech-savvy population, and rapidly expanding economies, has become a magnet for fintech innovation, particularly in the e-wallet space. These e-wallets, largely powered by QR code technology, have found fertile ground for growth due to a confluence of factors:

• Low Barrier to Entry: QR codes are easy to implement and require minimal technical infrastructure compared to alternatives like NFC, making them ideal for rapid deployment across diverse markets.

• Favorable Regulatory Environment: Southeast Asian policymakers, recognizing the potential of fintech to drive financial inclusion and economic growth, have adopted a proactive approach, making it relatively easy for e-wallet providers to obtain operating licenses.

• Open Competition: Regulatory reforms promoting a "same activity, same risk, same regulation" principle have leveled the playing field, allowing non-financial institutions to participate in the e-wallet space, fostering innovation and competition.

• This combination of factors has led to a surge in fintech e-wallet providers leveraging QR code technology, creating a vibrant and dynamic ecosystem that is reshaping Southeast Asia's payments landscape.

QR Code Payment Market Highlights in SEA’s Countries

QR code payments are experiencing explosive growth across Southeast Asia, transforming how consumers and businesses transact. Here's a glimpse at the remarkable adoption rates in several key markets:

Singapore:

• In 2018, the Monetary Authority of Singapore (MAS) introduced SGQR, a unified standard combining 27 different payment QR codes into one, simplifying adoption for consumers and businesses.

• In 2023, the value of mobile payment transactions using QR codes reached an impressive $83.5 billion USD, representing over 70% of all mobile payments in the country, according to Statista. This upward trajectory is expected to continue, with QR codes projected to capture over 80% of the mobile payments market share by 2025

Cambodia:

• QR payments surged 29% in 2023, reaching 601 million transactions, a tenfold increase in just three years.

• This growth is driven by the national unified QR code, KHQR, which is accepted at 3.3 million merchant locations nationwide, including small vendors in major cities like Phnom Penh and Siem Reap.

Malaysia:

• DuitNow QR, launched in 2019, has rapidly become a cornerstone of the digital payments ecosystem.

• In the first half of 2024, there were 1.5 billion DuitNow QR transactions totaling RM1.37 billion (USD 320 million), representing year-on-year increases of 64% and 37%, respectively.

Indonesia:

• QRIS, Indonesia's unified QR code system, saw a remarkable 226% year-on-year growth in transactions during Q4 2023.

• The system boasts 50 million users and 32 million merchants.

Vietnam:

QR code transactions in the first half of 2024 surged 104.23% in volume and 99.57% in value compared to the same period in 2023.

Vietnam's robust digital financial ecosystem, with its 24/7 bank transfer systems and numerous e-wallets, has facilitated widespread QR code payment adoption across various platforms.

Philippines:

• Digital payment transactions reached 2.6 billion in 2023, a 28.1% increase from the previous year.

• QR Ph, the unified QR code standard, saw an impressive 17.2-fold increase in transactions, reaching 73.8 million in 2023.

These figures demonstrate the rapid and widespread embrace of QR code payments across Southeast Asia, transforming the region's financial landscape and paving the way for a more inclusive and digitally-driven economy.

Part 2. Fizen: Bridging the Gap Between Web2 and Web3 Payments

While QR codes have undeniably revolutionized payments in Southeast Asia, their reliance on traditional financial systems presents inherent limitations. These limitations, rooted in centralization, high costs, and inefficiencies, hinder the full potential of QR code payments, especially in a region striving for greater financial inclusion and digital innovation.

The Traditional Financial System Bottleneck

• Centralization and Control: Traditional QR code payments often rely on e-wallets or bank apps that operate within centralized financial systems. This means users don't have complete control over their funds, as they are subject to the rules, fees, and potential vulnerabilities of these centralized institutions.

• High Costs: Centralized financial operations are inherently expensive. Intermediaries, regulations, and compliance requirements all contribute to higher fees for both businesses and consumers, limiting the accessibility and affordability of digital payments.

• Low Efficiency: Traditional payment systems, burdened by layers of intermediaries and complex processes, can be slow, cumbersome, and prone to delays. This inefficiency creates friction in transactions, especially for cross-border payments, and hinders the seamless flow of value within the digital economy.

Fizen's Blockchain-Powered Solution for the Future of Digital Payment

Fizen recognizes these limitations and offers a powerful solution: bridging the gap between Web2 and Web3 payments. By leveraging blockchain technology, Fizen empowers users with greater control, transparency, and efficiency, while still maintaining interoperability with traditional financial systems where necessary.

Here's how Fizen's blockchain-powered QR codes revolutionize payments:

• Decentralization and User Control: Fizen's platform allows users to store and manage their crypto assets directly on the blockchain via a non-custodial wallet, giving them true ownership and control over their assets.

• Reduced Costs and Increased Efficiency: Blockchain transactions can be significantly cheaper and faster than those processed through traditional systems. Fizen leverages this efficiency to reduce fees for both merchants and users, making payments more affordable and accessible.

• Seamless Cross-Border Transactions: Cryptocurrencies, by their nature, transcend geographical boundaries. Fizen's QR Code Payment facilitates seamless and cost-effective cross-border payments, eliminating the complexities and high fees associated with traditional international transfers.

• Unlocking the Power of Crypto Assets: But the revolution goes even further. Fizen empowers users to utilize their crypto assets—like Bitcoin, Ethereum, or stablecoins like USDT—for everyday purchases. Imagine paying for groceries, coffee, or even your rent with the crypto you already hold, anytime and anywhere Fizen is supported. This eliminates the need to constantly exchange crypto for cash, exchange fiat for fiat, or manage multiple e-wallets and bank accounts, simplifying the payment experience and expanding the utility of digital assets.

Fizen is not about replacing traditional finance entirely but about enhancing it. By integrating blockchain technology into the QR code payment experience, Fizen offers a hybrid approach that leverages the strengths of both Web2 and Web3. This allows for a more gradual transition to a decentralized future, providing users with the benefits of blockchain while maintaining familiarity and interoperability with existing systems.

Video about payment with crypto by using the Fizen Super App:

Part 3: Fizen's Proposition and Roadmap

Fizen's blockchain-powered QR code payment system isn't just about making transactions easier; it's about creating a more inclusive, accessible, and efficient financial world.

Here's how Fizen empowers different user segments:

For Travelers and Expats:

Effortless Cross-Border Payments: Travel light and worry-free. No need to exchange currencies, deal with high card fees, or open bank accounts in each country you visit. Your phone and Fizen app are all you need.

For Unbanked Users:

Financial Inclusion: Participate in the digital economy without a bank account. Use stablecoins like USDT as a secure store of value, protecting your savings from high-inflation countries. Access decentralized finance (DeFi) applications directly through the Fizen app and explore the growing world of Web3 opportunities.

For Remittance Senders and Recipients:

Fast, Affordable, and Borderless: Send and receive remittances with ease by using stablecoin like USDT, directly to a recipient's Fizen wallet, even if they don't have a bank account. Spend received funds instantly on the Fizen app or convert them to local currency as needed.

Gift Card Flexibility:

Send and receive gift cards through the Fizen platform, expanding gifting options and providing a convenient way to share value.

Fizen's Roadmap: Building a Pan-Asian QR Code Payment Network:

Fizen's ambitious roadmap reflects its commitment to bringing its innovative payment solutions to a wider audience:

• Q3/2024: Proof-of-concept launch of QR code-based crypto payments in Vietnam.

• Q1/2025: Expansion to Thailand, Malaysia, Indonesia, and the Philippines, building a strong presence in key Southeast Asian markets.

• Q3/2025: Integration with JPQR, Japan's unified QR code standard, enabling Fizen's services in Japan.

• Q3/2025: Expansion to Singapore, Cambodia, and India, leveraging the JPQR standard for wider interoperability.

With a focus on 9 key markets - Vietnam, Thailand, Malaysia, Indonesia, the Philippines, Japan, Singapore, Cambodia, and India - Fizen is strategically positioned to become the leading blockchain-powered QR code payment network in Asia, driving financial inclusion and innovation across the region.

Reference:

• https://www.gminsights.com/industry-analysis/qr-codes-payment-market

• https://www.statista.com/statistics/330695/number-of-smartphone-users-worldwide/

• https://www.worldbank.org/en/news/feature/2022/07/21/covid-19-boosted-the-adoption-of-digital-financial-services

• https://web-assets.bcg.com/9c/ac/72af6ed244c39123f679ffc899ee/bcg-asean-interoperable-qr-code-payment-ecosystem-in-asean.pdf

• https://paytm.com/blog/payments/upi/india-achieves-10-bn-upi-transactions-in-august/

• https://www.finextra.com/blogposting/26351/why-developed-economies-are-benefiting-from-qr-payments

• Download Fizen Super App at: https://fizen.io/download

Visit us: Website | 𝕏 | Telegram | Discord | LinkedIn | Facebook | Youtube

According to a 2024 Triple-A report, around 6.8% of the world's population are crypto users, translating to more than 560 million people. Furthermore, the crypto industry has a compound annual growth rate (CAGR) of 99%. This is relatively high compared to the growth rates of traditional payment methods, which averaged 8% from 2018 to 2023.

Crypto payments are also speculated to increase. Subsequent data from the report shows predictions of crypto payment gateways rising by 14% till 2033. Platforms like Uquid and Fizen are already positioned to adapt to changing dynamics. However, Fizen brings a more disruptive and innovative spirit to crypto users.

Market Overview of the Crypto Payment Sector

From the Triple-A report,  over 85% of US merchants consider enabling cryptocurrency payments a high priority. Indeed, this is because of the numerous benefits crypto-friendly businesses gain. Merchants who support cryptocurrency payments saw an average ROI of 327%.

A verified survey shows that 65% of customers are likely to purchase from a crypto-friendly business. Also, 43% said they would spend more money online if cryptocurrencies were accepted. Cryptocurrencies are becoming pivotal in e-commerce. However, this also applied to remittances.

Remittances

Digital cross-border remittances are speculated to grow from $295 billion in 2021 to $428 billion in 2025. Moreover, 15.8% of remitters are now utilizing cryptocurrencies for money transfers. The increase in remittances with crypto is due to its speed and scalability. Remittances made with crypto are 388 times faster and 127 times cheaper than traditional methods.

Gaming

The gaming sector is not left out in crypto payments. The Gaming Market attained and surpassed $222 billion in 2022. Nevertheless, projections from Triple-A are that the value will reach over $340 billion by 2027. Since 2021, 25.1% of cryptocurrency owners have used cryptocurrency to make purchases for online gaming and gambling. Moreover, 48.6% of crypto owners consider spending more on gaming and gambling in the future.

Travel and Retail

70% of respondents from a Triple-A survey say they are interested in making payments with crypto for traveling. Another 80% say they would prefer to make payments with crypto for retail products.

The data from diverse sectors indicates that crypto payments are gaining wide acceptance. Subsequently, platforms like Uquid and Fizen.io stand a chance in the market. Uquid already has a reputation as a pioneer, but Fizen is more positioned to revolutionize the crypto payment sector.

Uquid vs Fizen - Business Model

Established in 2016, Uquid claims to be the world's first smart shopping platform in Web3. With over 160 million products available, Uquid is a web-based e-commerce platform that supports crypto payments and gift cards. According to their website, their services are available in over 200 countries.

Customers can make bill payments and other financial transactions, creating real value for users and businesses on the platform. They can decide to pay with either fiat or crypto. The NFTD supermarket offers free NFT minting and trading. Also, their OMGFIN exchange allows customers to buy and sell crypto.

The 2.5 million registered users on the platform also get to access the Buy Now and Pay Later with Uquid. This interest-free loan lets customers split their basket into three payments. Moreover, numerous rewards and incentives drive over 50 million monthly traffic to the platform.

Fizen.io - The Crypto Super App Bringing Innovation and Revolution to Crypto Payments

Fizen provides a mobile app-based platform, integrating different solutions, such as the Fizen Super App, Fizen Pay - Crypto Payment Gateway for Business, and Fizen Ramp​​​​ - Buy/Sell Crypto with fiat money. Offering its services in over 178 countries, Fizen creates an ecosystem where businesses can connect with customers.

Fizen can make crypto payments for over 3 million products and services. Businesses can also expand to a global audience by integrating their crypto payment gateway.

For users:

• They can buy and sell crypto using bank transfers or credit cards. Scanning and purchasing items with QR codes helps integrate crypto into their daily lifestyle. For instance, after purchasing from a shopping mall, they can utilize the Fizen QR code to checkout. Also, they can quickly pay for a cup of coffee or food at a restaurant just by scanning the QR code in the Fizen app to make a payment.

• Fizen allows users to make cross-border payments and transfers faster and with lower fees than traditional methods.

• With over 40+ supported blockchain networks, Fizen allows for easy management of cryptocurrencies, NFTs, and other digital assets.

• Booking of hotels, mobile top-ups, airlines, electricity bills, and e-Sims are some services users get access to. There are over 2.5 million hotels, 4,000+ gift card brands, 200+ airlines, and the e-sim in over 178 countries.

• Fizen partners with many DeFi protocols allowing users exposure to more decentralized financial services via staking, savings, and soon lending and borrowing on the Fizen Super App.

  Check out the comprehensive solution of Fizen at:

https://mirror.xyz/0x24EA0Ff88fc2833f55bF2b226Db3A89b2Ae9b912/VfmoIjYZrlKTirlNuVGZE0tSfpc8JcijGubK3Dslgl4

Tokenomics

The Uquid Coin (UQC) has become an integral part of Uquid’s ecosystem. Users can stake, pay, and earn rewards with UQC. It is an ERC20 Token that supplements the growth of the Uquid ecosystem. The token was listed in December 2017, and its all-time high price ($33.71) was about 112,366.67% greater than its ICO price of $0.03.

According to CoinMarketCap data, UQC is up by more than 90% over the past year. Moreover, there's an increase in market valuation, from $37 million on August 1st, 2023, to $69 million on July 30th, 2024. With a total supply of 40,000,000 UQC, it has a Full Diluted Valuation (FDV) of $279 million.

The Fizen Token ($FIZEN) Tokenomics and Utilities

The Fizen Token (FIZEN) is slated to launch within 2024. This token's Full Diluted Valuation (FDV) will be $15 million at launch. Fizen will issue a limited total of 100,000,000 tokens.

33.50% of the $FIZEN distribution goes to investors, which is relatively high compared to other projects. For instance, Wirex Token (WXT) only has a 9% reservation for investors. $FIZEN reservation for investors includes a vesting period of 2 years, long enough to ensure commitment to the project.

Fizen reports that $FIZEN will be the lifeline of their ecosystem. Hence, $FIZEN will have many functions, including:

• $FIZEN will be used to pay commissions on the platform and reward users.

• $FIZEN will also serve as a payment option for gas fees and the goods and services on the platform.

• $FIZEN savings will also be a thing. Fizen shows users can earn up to 8% interest annually when they save with their native token.

• With $FIZEN, users will get membership benefits, such as huge discounts, early access, and exclusive services. Participation in decision-making, gifts for holidays/birthdays, and reduced shipping fees are added benefits.

Evaluating Fizen's Potential for Success

Uquid and Fizen have a successful business model. One whose revenue comes from transaction and service fees, creating a healthy cash flow. Nevertheless, Fizen has shown more potential than Uquid in so many ways, including:

Comprehensive Crypto Payment Ecosystem

Uquid is a pioneer in crypto payment and has shown that blockchain technology has an actual use case. However, Fizen has a more comprehensive crypto-payment ecosystem. It has a well-organized ecosystem compared to Uquid.

First, there's the Fizen Ramp for users to buy and sell cryptocurrencies. There's also Fizen Pay, which allows merchants to receive crypto payments from users. Finally, there's the Fizen Super App, a connector between users and businesses.

Fizen partners with other Web3 projects to enable crypto payments for their tokens. Some of these projects include Bitcoin.com, Funtoken, and soon, Monad and Berachain. The integration of these platforms increases token utility and token holders’ loyalty.

Fizen Is More Convenient Than Uquid

Uquid is web-based. Users must download browsers or open their laptops to use their services. This is highly inconvenient for users, especially for shoppers, travelers, and digital nomads.

Conversely, Fizen integrates itself into users' lives with its mobile application. It offers the best solution to accessing gift cards and purchasing goods and services more conveniently. Digital nomads and travelers won't worry about cash exchange while moving with crypto.

Tokenomics

$FIZEN has room for growth compared to the Uquid Coin (UQC). Although $UQC is currently having an FDV 16.7x higher than $FIZEN, the latter is yet to be listed.

Strong Community

Fizen has a strong community spread across Telegram and Discord. Despite having fewer followers on X (formerly Twitter), Fizen receives more engagement than Uquid. This is primarily because of the community engagement activities on their social media platforms.

Fizen will issue many NFT collections to benefit loyal users.

Partnerships

Uquid has partnerships with brands like Binance and Tether. Nevertheless, Fizen, still new to the market, is already building solid partnerships with big brands. Binance Gift Card, TON, Tether, Monad, Berachain are some of their partnerships.

Focus on Web3

When Uquid set out in 2016, the plan was to develop an outstanding Web3 shopping infrastructure. In 2024, there's a slight deviation from that plan. Connecting e-commerce, metaverse, and NFT are the new objectives for Uquid.

Unlike Uquid, Fizen focuses on only 1 thing; to make crypto payment easier for mass users. It aims to develop a platform that onboards Web2 users to Web3. It creates a bridge that connects traditional finance systems with crypto.

Conclusion

Uquid already demonstrates that crypto payment has become a transformative use case of blockchain technology. Its successful business model is evident. Uquid proves that a crypto company can sustain itself with real profit from a correct business model. This differs from many Web3 projects, as it relies on users' engagement and investment for revenue. However, Fizen, a newcomer in the sector, has more potential to grow into one of the world's biggest crypto payment platforms.

6.8% of the world's population (560 million) already uses crypto. Nevertheless, Fizen's type and manner of services make it stand out for many reasons.

It has a comprehensive crypto payment ecosystem consisting of the Fizen Ramp, Fizen Pay, and Fizen Super App. Furthermore, unlike Uquid's web-based access, its mobile application guarantees users convenience.

The $FIZEN token also has more potential than $UQC. The FDV of $FIZEN will start at $15 million. On the other hand, $UQC's FDV is already stable at $250 million, with its highest at $1.32 billion. Still, $FIZEN could go a minimum of 16.7 times to 88 times from its listing price.

Regarding community support, Fizen also surpasses Uquid. Their Telegram, Discord, and X communities create more engagement and interaction than Uquid's. Moreover, partnerships from Binance Gift Card, Bitcoin.com, KyberSwap, TON, and Tether boost the success rate of this platform. Fizen is safe and convenient for users and provides an ideal environment for investors and businesses to thrive and expand.

• Download Fizen Super App at: https://fizen.io/download

Visit us: Website | 𝕏 | Telegram | Discord | LinkedIn | Facebook | Youtube

But it is not the only one. Below is a summary of numerous works by crypto organizations to advance crypto payments globally.

Tether Investments Across Crypto Payment Startups

Tether's major objective has always been to develop a transparent, more connected, and accessible global financial system, focusing on emerging markets. Indeed, its numerous investments in crypto payment startups support this claim.

In February 2024, Tether led the $25 million funding round for Oobit, a crypto payment mobile app that enables users to pay with crypto using Visa and Mastercard POS. Tether also invested in Citipay to advance crypto payments in Eastern Europe.

Citipay is a payment processing company with more than 2,000 locations across Georgia. Moreover, these investments made by Tether will enable them to provide users with platforms where they can make payments with cryptocurrency globally.

Besides Oobit and Citipay, Tether also collaborated closely with Fizen, which led to the Tour de USDt event. Thanks to Fizen, this was the first time Tether officially came to Vietnam and Southeast Asia. The event was explosive, with numerous projects participating in the GM Vietnam Blockchain Week 2024. Tether could expand this collaboration with Fizen in the future, investing in their innovative project if possible.

TON Collaboration With Tether to Advance Crypto Payments

In April 2024, the TON Foundation announced its partnership with Tether to provide cross-border USDT payments for users. According to details provided on X (Twitter), the primary objective of the deal is to make crypto payments faster, cheaper, and more accessible.

Since it is stable, USDT on TON will be ideal for daily transactions. Part of their plans is integrating global off-ramps, allowing users to withdraw supported fiat currencies directly from bank accounts. Furthermore, the TON Foundation said the partnership will provide the 900 million Telegram users with an integrated and seamless financial service.

Tether isn't the only collaboration TON Foundation has made to advance crypto payments. Fizen recently launched a mini app on Telegram, which the TON Foundation announced. Users can add credit or data to mobile phones with the USDt Gift Shop Mini App on Telegram. In the future, Fizen plans to add other services like gift cards, hotels, airlines, and eSIM.

TON 💎

@ton_blockchain

@fizenapp launches USDt Gift Shop on Telegram!

Fizen, known for one-stop solutions for travelers and expats using crypto payments, now offers QR code scans, access to 50K gift cards in 178 countries, as well as hotel and airline bookings.

Today, Fizen launched the USDt Gift

609

11:30 AM • Jul 30, 2024

Coinbase Rallies Behind Stablecoins

Coinbase, in its new research, stands firmly behind stablecoins' ability to disrupt traditional finance systems. The company says stablecoins could be used to develop a robust crypto-payment system that facilitates cross-border payments and remittances. Indeed, it has lots of data to back up this claim.

The average cost of sending $200 globally using traditional payment methods is still 6.35% of the transfer, which translates to approximately $54 billion in fees annually. In comparison, Coinbase found that crypto payments are relatively cheaper. In fact, the average transaction cost of sending remittances using stablecoins is around 0.53% to 3.0% of the transfer amount, which is incredibly cheap compared to traditional methods.

Binance Sees a Better Future for Crypto Payments

In a July 2024 analysis of the crypto payment sector, Binance admitted that it has an excellent future ahead of it. Their study was based on the recent approval of the spot Ethereum ETFs. According to Binance, the Ether ETFs will boost crypto's acceptance and market stability.

Hence, the approval will increase the trust and legitimacy of the cryptocurrency ecosystem, leading more people to accept crypto payments.

Uniswap and Circle Back DeFi to Make Crypto Payments Better

Research by Uniswap Labs and Circle in 2023 highlighted the importance of DeFi in improving crypto payments. According to them, on-chain foreign exchange (FX) will provide a cheaper, faster, and more efficient cross-border payment for consumers and businesses. This is mainly because it could reduce remittance costs by as much as 80%. If this happens, the underbanked could save as much as $30 billion annually.

In conclusion, many organizations and companies are aware of the mind-blowing potential of the crypto payment sector. Hence, they are spreading the word, creating partnerships, and investing in the industry. Companies like Tether, Binance, TON Foundation, Coinbase, Uniswap Labs, and Circle are optimistic about the potential crypto payments. Hence, as a consumer or investor, you wouldn't want to miss out on this innovation.

40 Giant Alliances are with us to bring Fizen's crypto payment solution to life

Fizen brings a novice solution to Web3 projects with tokens by instantly enabling their token for real-world payments, which have been welcomed by many big names like Tether, Angle Protocol, Monad, Berachain, Kima, Lingo, Bitcoin.com, FunToken, HyperGPT, WOW Earn, Unizen, AI.S and more.

OORT | The Data Cloud for Decentralized AI

@oortech

Ta-da! You can now use $OORT to various purchase gift cards in 178 countries on the @fizenapp. From Uber to Starbucks, explore a world of options and enjoy seamless transactions with $OORT!

Here's a step-by-step guide on how to do it: oortfoundation.org/news-updates/u…

Video

135

9:17 AM • Aug 6, 2024

Lingo

@Lingocoins

Lingo is building the world’s largest rewards ecosystem, bridging crypto benefits to real-world products and experiences.

$Lingo will be redeemable for @Magic_Eden digital collectibles, @Travala hotels and flight bookings, and @fizenapp gift cards for real-world rewards such as

899

1:11 PM • Jun 26, 2024

Fizen welcomes all Web3 projects to integrate their tokens, allowing users to utilize them to:

• Access hundreds of thousands of gift cards from global brands in 178 countries

• Pay for electricity, water, internet bills, phone top-ups, eSIMs, and data in over 120 countries

• Make QR code payments

• Book 2.5 million hotels worldwide (available Q4 2024)

• Purchase flights with 200 airlines and private jets (available Q4 2024)

and much more through our extensive network of providers. See more in detail at our article below.

https://mirror.xyz/0x24EA0Ff88fc2833f55bF2b226Db3A89b2Ae9b912/VfmoIjYZrlKTirlNuVGZE0tSfpc8JcijGubK3Dslgl4

Contact us for more information: business@fizen.io

Conclusion: The Collective Push Towards Mainstream Crypto Payments

In conclusion, the global push towards crypto payment adoption is a collective effort by some of the biggest names in the industry, including Tether, the TON Foundation, Coinbase, Binance, Uniswap, and Circle.

These companies are recognizing the potential of crypto payments but are also actively investing in, collaborating on, and developing innovative solutions that could reshape the financial landscape.

As these efforts continue to mature, crypto payments are set to become a mainstream option for consumers and businesses alike, offering faster, cheaper, and more accessible financial services worldwide.

• Download Fizen Super App at: https://fizen.io/download

Visit us: Website | 𝕏 | Telegram | Discord | LinkedIn | Facebook | Youtube

Fizen Super App allows people to spend their cryptocurrencies seamlessly. From buying a cup of coffee to topping up their mobile phone credit, the Super App will enable them to use crypto daily. Moreover, integrating the Fizen Payment Gateway provides a broader reach to businesses that accept crypto. At the same time, the Fizen Ramp enables better management of cryptocurrencies in a user's portfolio.

The features Fizen offers benefit users, businesses, and blockchain project developers.

For Users

• They can buy and sell cryptocurrencies using bank transfers and credit cards.

• Buying products and services with crypto is smooth and convenient, as users can efficiently utilize QR codes to scan and purchase quickly, as seen in the video below.

• The Fizen Super App offers many services. Over 2.5 million hotels and 200 airlines are set to be available on the platform. Furthermore, eSim services are available in 100 countries, with options for paying electricity bills and mobile phone top-ups.

• Making cross-border payments with Fizen is incredibly cheaper and faster than traditional methods.

• With the Fizen Super App, users benefit from decentralized financial services like staking, savings, and soon lending & borrowing.

• The Fizen Super App also allows users to buy gift cards. Not only do users earn rewards for doing so, but more than 4,000 gift card brands are on the platform. Furthermore, over 50,000 gift cards are available in 178 countries.

• Users can also manage their crypto assets in over 40 blockchain networks, including NFTs and other rewards earned while using the app.

For Businesses

• Business owners can benefit by offering their products and services on the Fizen Super App.

• With Fizen Pay (https://pay.fizen.io/), they can easily accept cryptocurrencies, expanding their offerings to a global audience. This translates to a profit increase.

For Blockchain Project Owners

• Blockchain project developers can benefit from Fizen by integrating their coins and tokens into the Super App. This allows users on the platform to utilize them while making payments for products and services. https://fizen.io/rwaecosystem

• The major benefit is that it improves the utility of their tokens without affecting the token price, as most transactions are microtransactions. Furthermore, it helps strengthen their connection with the community and increases user loyalty.

How Users Around The World Are Using Fizen Daily

The global adoption of Fizen is rapidly growing, with users across various regions utilizing the platform to simplify their daily transactions. Whether it's paying bills, shopping online, or making international payments, Fizen's user-friendly features are making cryptocurrency more accessible than ever.

Watch how people worldwide are seamlessly integrating crypto into their lives here: https://fizen.io/uservideos

Shop Using Giftcards

Fizen makes it easy for users to shop with cryptocurrency by offering a vast selection of over 4,000 gift card brands in 178 countries.

Scan to Shop With Crypto

Shopping with cryptocurrency has never been easier. Fizen allows users to scan QR codes to make USDT Real-time Off-ramp. Purchases are completed quickly and securely.

Top-up Phones Globally With Crypto

With Fizen, users can effortlessly top up their mobile phones using cryptocurrency, no matter where they are in the world.

TON 💎

@ton_blockchain

@fizenapp launches USDt Gift Shop on Telegram!

Fizen, known for one-stop solutions for travelers and expats using crypto payments, now offers QR code scans, access to 50K gift cards in 178 countries, as well as hotel and airline bookings.

Today, Fizen launched the USDt Gift

609

11:30 AM • Jul 30, 2024

Community building at Fizen focuses more on people, not numbers

The number of users joining our X, Telegram, and Discord channels is steadily increasing.

However, we don't just focus on those social networks. Many of our activities are highly interactive, including offline meet-ups and weekly online Zoom calls. Our users are active on multiple social and chat platforms. We go where our users are.

Fizen’s community includes users of all ages from various regions, encompassing both Web2 and Web3 users. GenZ users are excited to try crypto in real life. Millennial users are eager to learn new technology and spend crypto remittances sent by family members from overseas. The Fizen Super App concept is easy to understand, and the UI is so user-friendly, even for grandma.

We also keep our community highly engaged by issuing NFT collections that people love

The latest NFT collection achieved impressive results:

• 5,000 whitelist registrations in 3 days: Demonstrating strong interest and appeal from the community. You can learn more here.

• Sold out in 2 minutes 46 seconds: All NFTs were immediately sold out upon launch. Learn about the details here.

• Other statistics:

  • 1,300 transactions within 24 hours.

• Top trending & featured on Element’s first page: With thousands of tweets and hashtags related to the project.

Alongside other NFT collections, there are about 7,000 Fizen NFT holders. Holding an NFT not only provides benefits but also allows users to earn $FIZEN token airdrops.

The mobile app is an effective way to block airdrop hunters from cheating the system. We focus on real app users rather than showing off millions of unreal users. Various tactics have been implemented, and we are confident that most of our users genuinely use and love the app and will support us in the long run.

Numerous games have been deployed both within the community and the Super App to keep users engaged. Returning to the app daily, spending, and inviting more friends will earn FiPoints, which can be converted into $FIZEN token airdrops. This is an excellent way to incentivize users.

Conclusion: Revolutionizing Everyday Crypto Use for All

In conclusion, Fizen is setting a new standard in the crypto space by making digital currencies more accessible and usable for everyone, whether you're a casual user, a business owner, or a blockchain developer.

With its integrated Super App, Fizen transforms everyday transactions, offering a seamless experience for spending and managing cryptocurrencies. The platform's comprehensive set of services, including payments, financial management, and community engagement, positions it as a leading solution for crypto utilities.

As the global adoption grows, Fizen continues to innovate and connect users across generations, regions, and technological expertise, making crypto a part of everyday life.

• Download Fizen Super App at: https://fizen.io/download

Visit us: Website | 𝕏 | Telegram | Discord | LinkedIn | Facebook | Youtube

Author: Leo Vu - CEO & Co-Founder of Fizen.io.

We rely on cards and cash because we have no better alternatives

Having lived in Singapore, France, the USA, Japan, Korea, and traveled to numerous other countries, I know firsthand the hassles of currency management as an expat and tourist. This frustration inspired me to build Fizen.io, a solution to make transactions faster, cheaper, safer, and more convenient through blockchain technology.

Many people still believe that cash and card payments are sufficient. However, after extensive research and personal experience, I can confidently say that crypto payments offer significant benefits.

In April 2024, I traveled from Vietnam to Dubai for the Token2049 conference. Like any traveler, before the trip, I needed local currency, so I exchanged 11,000 AED (Dirhams), costing me 74,800,000 VND (Vietnamese Dong), an exchange rate of 6,800 VND per AED. Additionally, during the trip, I used my Visa Debit card (issued by a Vietnamese bank) for various purchases, keeping all receipts. The total spent in AED was 8,356.27, and my bank charged 60,167,127 VND, translating to an exchange rate of 7,200.24 VND per AED.

This means using my card costs an extra 5.89% due to various fees and a high cross-border currency exchange rate. Cross-border card payments involve numerous intermediaries, each adding a small fee, ultimately inflating the cost for consumers.

Merchants accepting card payments also face fees ranging from 1.5% to 4.0%, costs they often pass on to customers.

When I returned to Vietnam after a month and checked, the exchange rate for AED/VND had not changed. This means that the 5.89% is entirely due to intermediaries' charges, not fluctuations in the exchange rate.

You can check out all the details HERE.

Crypto payments can save you significantly

In an ideal world where many people own crypto and merchants also want to accept crypto payments, transaction fees will be optimized for all parties. Stablecoins like USDT are truly useful because they are widely accepted, and their value does not fluctuate. A crypto payment transaction is made directly from buyer to seller without involving intermediaries. A transaction on a blockchain like BNB Smart Chain costs just 0.00003 BNB or roughly $0.019 most of the time during my trip. Many other chains offer even lower fees. For merchants using a crypto payment gateway like Fizen Pay to manage the payments, the fee is only 0.5%.

Imagine the savings for both merchants and consumers. Merchants can lower prices, offer cashback, or provide reward points, all while enjoying faster and more secure transactions. Consumers save on fees and enjoy seamless global payments.

Crypto payments aren't just a novelty—they're a practical, efficient, and cost-saving alternative to traditional payment methods. The future of money is here, and it's on the blockchain.

It is a huge financial savings. The total amount you could save is up to 9%! Let's say you spend $100,000 using crypto instead of a card—you would save $9,000!

There are many more advantages of crypto payments over cash or cards.

CASH:

• Inconvenience: You have to travel to a currency exchange shop. Many shops only deal in major currencies like USD, Euro, and Yen. This means you might need to find a smaller shop to exchange AED, or exchange USD first and then convert USD to AED in Dubai, incurring fees twice.

• Safety: Cash is cumbersome and unsafe to carry, especially in large amounts.

• Management: Handling change and converting leftover currency back after your trip is a hassle.

• Increasingly Less Popular: Many merchants no longer want to accept cash payments due to concerns about counterfeit money, the inconvenience of making changes for large denominations, and hygiene issues.

CARD:

• High Fees: As shown, card payments come with high fees.

• Security Risks: It's not difficult for someone to steal your card number.

• Privacy: Card payments offer limited privacy.

Crypto payments eliminate these issues, offering a seamless, secure, and cost-effective alternative. By embracing crypto, you're not just adopting a trend—you're stepping into the future of finance.

We are in the early stages of the development of crypto payments. The number of people owning crypto is around 560+ million (2023) and is expected to reach 1 billion by 2030. Fizen.io strives to apply new technology to improve speed, fees, and convenience in cross-border transactions.

Crypto Payments Set to Get Traction - Key to Crypto Adoption

Three primary factors contribute to the fast adoption of crypto payments. Indeed, they are simpler, risk-free, and essential for users.

You can easily buy things at shopping malls or food at your favorite restaurants by scanning QR codes to make payments. Moreover, unlike banks, crypto payments are not limited to a geographical location. They are risk-free and provide an avenue to spend your money.

The Fizen Super App has made it easy for travelers, shoppers, and digital nomads to make crypto payments. You can use crypto to pay for online purchases, utility bills, phone top-ups, gift cards, eSIMs, hotels, and airlines.

Crypto payments are becoming essential, as 65% of people in a reliable survey confirmed their interest in using them. What's fascinating is that countries, large organizations, and companies are interested in crypto. You wouldn't want to be left out.

Apple Opens NFC Payment Chip for Bitcoin Payments

One of the biggest tech giants in the world, Apple, is aware of the potential of crypto payments. Hence, their latest integration of NFC Payment Chip to third parties makes Crypto payments possible with "Tap to Pay." With over 2.2 billion iPhone users worldwide, it guarantees massive traction for crypto payments.

Dubai and Russia Allow Crypto Payments

World powers like Dubai and Russia recognize the benefits of crypto payments. Dubai now allows salaries to be paid in Bitcoin and other cryptocurrencies. Even Russia is loosening up its tight regulations on cryptocurrencies. Due to the lack of geographical limitations, Russia will allow crypto payments and mining from September 1st, 2024.

Conclusion - Crypto Payments Are A Necessity

Crypto payments are now a necessity. Individuals need them in their daily lives to buy things online and offline. Due to the lack of geographical limitations, countries and large organizations are integrating crypto payments for faster remittances. No one should be left out of this innovation, and it even gets better with the Fizen Super App. Operating in over 178 countries, the Fizen Super App provides an ideal environment to spend crypto!

Crypto payments are a necessity

• Download Fizen Super App at: https://fizen.io/download

Visit us: Website | 𝕏 | Telegram | Discord | LinkedIn | Facebook | Youtube

Tether’s USDT and Telegram’s TON: Setting the Pace for Crypto Exploits

USDT by Tether is one of the pioneer stablecoins in the crypto industry, making its way to the top with the quest for financial inclusion and innovation. Tether created USDT in 2014, and it has quickly grown to become one of the most used digital assets by individuals, organizations, and even governments.

It brings innovation and disruption to the traditional financial system, breaking boundaries and modernizing money. In fact, the USDT is no longer considered a crypto but a digital dollar. Especially in emerging economies, it has built a reputation as a transparent and low-cost way to transact money. Moreover, it is widely regarded as a savings account for those living in countries with extreme inflation.

Enter Telegram and TON (The Open Network), an instant messaging platform and a blockchain working closely together to expand crypto adoption. Like Tether’s USDT, Telegram, and TON plan to revolutionize digital transactions with crypto.

The two giants announced their collaboration just two days earlier at the Token2049 event in Dubai, with $60 million of USDT now issued on the TON blockchain. Thanks to these efforts, the crypto industry is seeing one of the biggest onboarding of new users into the sector in 2024 with the tap-to-earn projects and many other Web3 utilities on-boarded on Telegram.

Paolo Ardoino 🤖

@paoloardoino

This #TOKEN2049 in Dubai will be
@telegram / @Tether_to

369

9:16 AM • Apr 8, 2024

How Fizen Is Connecting Crypto Lovers and Travelers with Tether USDT and Telegram TON

Tether USDT and Telegram TON have already created a pathway to crypto adoption. People have learned that cryptocurrencies offer more security, lower transaction fees, and faster processing speeds than the legacy financial system.

But there's still a problem. There's a hurdle with adopting cryptocurrencies as a mainstream payment tool.

This is where the Fizen Super App comes in to support the two giants’ missions. Fizen offers a revolutionary experience that integrates crypto payments into our daily activities. Indeed, Fizen is beneficial not only to users but also to businesses.

For Users like Fizo

Fizen provides a comprehensive tool and platform where users can buy and sell cryptocurrencies and use them for travel and shopping. With Fizen, users can seamlessly spend their crypto funds through various convenient methods, including QR code scans, phone top-ups, bill payments, and gift cards. Users can also book directly for 2.5 million hotels, 200 airlines, and eSIM services in 120 countries.

Fizen (💜, ℤ)

@fizenapp

COOL STUFF ALERT!

You can now enjoy USDT Real-time Off-ramp at any shops with Fizen Super App, starting in Vietnam and soon across Southeast Asia.

How-to: Scan the QR & Wink

More details
fizen.substack.com/p/new-in-usdt-…

#Fizen #RWA #RWU #cryptocommerce

90

11:00 PM • May 15, 2024

Additionally, travelers can send love, gifts, and care to family and friends across the globe with USDTGiftShop, a mini app on Telegram powered by Fizen.io and TON. This truly highlights the power of Tether and TON in driving crypto mass adoption. Experience the convenience and freedom of using crypto on your travels while spreading the love - all in one with Fizen.

USDT Gift Shop

🎁 Send love to your friends and family, powered by TON & Fizen. Enjoy a seamless crypto shopping and giving experience.

https://t.me

For Businesses

Fizen provides an opportunity for companies and organizations to expand their businesses to a global audience. It helps businesses sell their goods and services to people who use cryptocurrencies, extending their market reach and enhancing their revenue stream.

Let’s elevate Fizo’s Mission to Travel the World Using Only Crypto

Fizo began his journey on March 19, 2024, with a special mission: to travel the world, connect with different cultures, and demonstrate how to use crypto for everyday activities.

https://mirror.xyz/0x24EA0Ff88fc2833f55bF2b226Db3A89b2Ae9b912/HmSiL3sGFF2z3Yv_wINiA5P_55FHHXpskVHKaNjMwHg

Now, with his new bike and the Fizen Super App, he can effortlessly enjoy the journey, and pay for hotel bookings, airline tickets, shopping, and eSIM services—all with crypto.

Collect the first piece of Fizo on The Wheel and unlock the next thrilling chapters of his crypto travel adventure

Don’t miss out on being part of this exciting journey—join Fizo and experience the future of travel and finance. Whether you are a digital nomad or like to take occasional vacations, the Fizen Super App presents an opportunity for seamless crypto use.

Join Fizo’s Biking Crew

• Crypto Travel with Fizen Super App at: https://fizen.io/download

• Send love to your friends and family with USDT Gift Shop by Fizen and TON at:

USDT Gift Shop

🎁 Send love to your friends and family, powered by TON & Fizen. Enjoy a seamless crypto shopping and giving experience.

https://t.me

Visit us: Website | 𝕏 | Telegram | Discord | LinkedIn | Youtube | USDTGiftShop X

Fizo’s Journey Begins

Fizo’s journey started on March 19, 2024, and has captured a vibrant community's hearts and imaginations. As he takes his first steps into the world, traveling across the globe, he seamlessly brings crypto into people’s everyday lives.

A true beacon of travel passion with technological innovation, Fizo inspires thousands of crypto enthusiasts worldwide and fuels even greater interest in blending crypto with travel. Let's say “Hello" to Fizo!

A Special Mission

Fizo’s adventures around the world aren’t just about seeing the world and exploring new places. They are about connecting with diverse cultures, sharing crypto experiences in everyday life, and showcasing the limitless possibilities of the crypto world. Each destination he visits is a testament to his passion for travel and his unyielding spirit. Everywhere he comes, he brings a sense of excitement and discovery to the crypto community.

Fizo embodied the living spirit of crypto, bravely navigating the stormy seas of the money-hungry crypto markets. Through thick and thin, Fizo's adventurous heart beats with unwavering determination, pushing toward a more exciting future.

Join Fizo on his Adventures!

So, what’s next for our intrepid traveler? Well, the world is his playground! Fizo is always on the move, exploring new places and meeting new people. His adventures are a testament to his unquenchable thirst for discovery and his belief in the limitless possibilities of the future of crypto. And with Fizen Super App as his trusty travel buddy, Fizo will pay with crypto for his shopping, eSIM, hotel bookings, and airlines - ALL WITH CRYPTO.

Join us as we follow Fizo around the globe, one exciting destination at a time. Whether you’re a seasoned crypto enthusiast or just getting started, Fizo’s journey is sure to inspire and entertain. After all, in the world of Fizo, every day is an adventure, and every adventure is a step towards a brighter, more exciting future.

Keep an eye out for Fizo’s latest escapades and join him on this incredible journey. Who knows? You might just find a bit of Fizo’s adventurous spirit in yourself, ready to take on the world of crypto, one step at a time.

Say “Hello” to Fizo

• Download Fizen Super App at: https://fizen.io/download

Visit us: Website | 𝕏 | Telegram | Discord | LinkedIn | Facebook | Youtube