Saturday, December 3, 2022

ChromePay will provide various Web3 payment services based on the foundations of a decentralised identification solution powered by Fuse, a top 10 blockchain regarding the number of daily active wallets interacting with its dApps.

  • ChromePay introduced its pay solution app in 2021 in Nigeria. 
  • The launch DIDs represents a critical first step in this connection between Fuse and ChromePay
  • Fuse has stated that its partnership with ChromePay intends to improve blockchain-powered payments in Africa.

On September 30, 2022, Fuse revealed a business alliance with ChromePay. The alliance will help build a decentralised identification service allowing millions of African users to interact with the Web3 economy.

ChromePay introduced its pay solution app in 2021 in Nigeria.  The app helped retailers, and other consumers accept and make payments at one by scanning a QR Code.

READ MORE: Inside EkoLance partnership with TechonomyAfrica to boost the growth of web3 and blockchain

Notably, ChromePay’s cloud-based financial system is packed with features and is accessible to iOS and Android users. The system contains a marketplace where merchants may display their items. The QR code scanner helps in accepting payments. Moreover, the bulk payment function allows users to make multiple purchases.

ChromePay began with a successful pilot in Nigeria and is currently preparing the first deployment of a decentralised identification (DID) on Fuse in Ethiopia.

Opportunities for African youths

Many African youths previously excluded from meaningful income-generating opportunities on the internet now have opportunities thanks to blockchain technology. Africa has had the third-fastest growing cryptocurrency economy in the world, with an incredible surge in crypto payments, thanks to exceptionally high adoption rates in some locations.

ChromePay will provide various Web3 payment services based on the foundations of a decentralised identification solution powered by Fuse, a top 10 blockchain regarding the number of daily active wallets interacting with its dApps.

ChromePay has received funding from Fuse to expand its DeFi and DID operations on the blockchain. Moreover, the company has received support from the Israeli Ministry of Economy, Google SDG, and other organisations.

According to Mark Smargon, CEO of Fuse, ChromePay is perfectly aligned with Fuse’s mission of giving companies and customers the choice to conduct payments the way they desire. The launch DIDs represents a critical first step in this connection. ChromePay will decrease entry barriers to financial services throughout Africa with Fuse’s continuous support, resulting in vibrant, next-generation economies.

Fuse and ChromePay to capitalise on the potential of blockchain in Africa

Blockchain offers a lot of untapped potential for helping underrepresented populations. The relationship between Fuse and ChromePay stems from the fact that their blockchain is economical, consumer-friendly, and has a shared purpose of promoting financial inclusion, according to Gabriel Saunyama, CEO of ChromePay.

Saunvama is confident that merging ChromePay’s Digital Identity solution with Fuse’s Charge API would encourage digital economy growth and provide value for the underserved.

Fuse offers a blockchain as a service platform that allows companies and developers to integrate payments within their products, even if they have no previous blockchain programming knowledge. Ethereum Virtual Machine (EVM) powers this integration. It is compatible with the Fuse Network blockchain.

Fuse has stated that its partnership with ChromePay intends to improve blockchain-powered payments in Africa. The improvement can overcome significant faults in the current payment system. This includes exorbitant transaction costs, excessive intermediation, regional fragmentation, frequent lack of platform compatibility, chargebacks, hidden interest, and other issues.

READ MORE: The recent crypto slump and the tough lessons on custody and control

Newsletter

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

Leave a Comment

Web3 Africa

Community

We believe that the most important thing in the Blockchain revolution is the ability of people to understand and embrace the change. Our journalism standards – impartiality, truthfulness, transparency, and accuracy – will help you navigate this extremely dynamic world.

@2022  All Right Reserved.

[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]