AirFox has Partnered with Via Varejo for Payments Solutions
Airfox Brazilian subsidiary of CarrierEQ Inc has confirmed a partnership with Via Varejo through Reuters. The partnership will see the development of mobile digital payment solutions to those with limited access, underbanked or unbanked. Airfox successfully completed an ICO in 2017 with Launch Capital and Next Ventures leading investments.
The application will use your mobile phone as the wallet making it easily accessible. The app can be used to pay for services whilst on the move. AirToken is an ERC-20 utility token used to expedite the transfer of mobile airtime, data and currency whilst also used as payment for goods and services. A user could buy crypto to pay for their utility bills such as water or electric.
Tokens are currently available for purchase on three exchanges only paired with other cryptocurrencies. Someone looking to purchase AirTokens may require a broker such as BC Bitcoin to buy Bitcoin first to trade for the tokens. Availability of the token will grow as it is listed on more exchanges.
It is reported by The World Bank over two billion people do not have a bank account having to pay for utilities using traditional methods which are time consuming and inefficient. Most unbanked people do not know how to buy Bitcoin or where. These people also cannot access conventional financial services due to this.
The platform also acts as a lending service to those that do not have a bank account or credit rating. AirTokens permit the transfer of capital from peer-to-peer lending to users of the app in the form of microloans. A trader could buy cryptocurrency to lend through this platform and generate a return. Users of the app can build a trustworthiness score which will determine their risk and amount they can borrow. Capital is lent anonymously using AirTokens, paid back in instalments to the lenders.
Airfox is addressing the limitations in access to financial services people experience such as institutions being too far away or accounts being too expensive. A financial service is currently required to buy crypto to get involved with the project but aspire for easier access in the future.
To make sure you keep up with the latest news or to buy crypto, head on over to BC Bitcoin your trusted UK Cryptocurrency broker.