Cryptocurrency Payments Debuts for Parking Tickets By Belgian Startup
The organization anticipates Bitcoin and other cryptocurrencies to be more widely used, particularly as tokens become more eco-friendly. Seety, a Belgian digital parking company, has added parking ticket crypto payment functionality.
According to a DataNews article on Thursday, the organization, one of the Belgian accelerator programs, Start it @KBC, developed in the Antwerp and Brussels, the cryptocurrency payment function.
Seety customers may use Bitcoin (BTC) to pay for parking charges in both cities from Thursday onwards. Customers may also utilize cryptocurrencies like Ether (ETH), Bitcoin Cash (BCH), DOGE, and Litecoin (LTC), as well as stabilizers like Dai and USD Coin in addition to Bitcoin (USDC).
Customers who want to pay for a parking spot using crypto will utilize “coins” to purchase Seety credits on the organization’s app. According to the reports, while using bitcoin, consumers will not suffer extra charges.
The Seety application has more than 355,000 users in Belgium and the Netherlands. Moreover, it has a high expectancy to generate a yearly revenue in excess of EUR 2 million ($2,372,002.28) by 2022.
Wide Acceptance in Daily Microtransactions
Using bitcoin to pay for parking spots shows how cryptocurrencies will ultimately acquire more acceptance in daily microtransactions. Seety expects crypto adoption to increase when tokens become greener.
The use of Bitcoin to pay for tickets dates back to 2014 with the discontinued Brawker app. Crypto payment alternatives for microtransactions are becoming more popular nowadays, even though major obstacles still hinder broader adoption.
Crypto credit cards and stablecoins may also make it simpler for merchants to spend cryptocurrencies on their platforms easier.
As mentioned in the news earlier, Visa has announced that in the first half of 2021, its crypto-enabled cards handled $1 billion in crypto spending.
