Colombian delivery app Rappi, which offers on-demand deliveries of food and other goods across Latin America, said on Monday it has launched a cryptocurrency payment pilot program in Mexico. Rappi teamed with cryptocurrency platforms Bitpay and Bitso to back the new service, which will let users turn crypto into credits within the app to make purchases, Rappi said.
According to Sebastian Mejia, Rappi co-founder and president, this project is the company’s first step into the cryptocurrency world. “We are studying the crypto world with interest and believe that the future is the intersection of the crypto with traditional non-crypto businesses, with easy and uncomplicated user experiences,” he said.
The currency conversion into credits will be done by the partner platforms, not by Rappi. The company will be responsible for certifying the conversion and giving due credit to the app users. To use the new service, it is necessary to have an account with Bitpay or Bitso to integrate with Rappi’s platform. In this first phase, the cryptocurrency conversion limit is 2,000 Mexican pesos per transaction.
For now, Rappi users in Mexico will be able to pay with cryptocurrencies for Rappi credits, which can then be spent on any of the products and services offered by the app.