Mosquito Pay Joins Forces with Touchpoint Open Builders Program to Revolutionize Blockchain Payments

• Mosquito Pay collaborates with Touchpoint Open Builders Program to improve IOTA mainnet and Shimmer network payments.
• Programmable money technology aims to streamline payments, reduce fees, and enhance security.

In a strategic move, Mosquito Pay, a pioneering force in blockchain-based payment solutions, has recently merged with the Touchpoint Open Builders Program, heralding a significant advancement in the world of programmable money.

At the core of Mosquito Pay’s mission is to simplify manual payments using computers or smartphones on the IOTA mainnet. This includes a wide range of use-cases, such as online shopping, in-store transactions, and in-app and in-game purchases. Simultaneously, the Shimmer network is poised to host automated machine-to-machine payments through the use of smart contracts.

This joint venture is strategically aimed at capitalizing on the first-mover advantage and targeting widespread adoption. Mosquito Pay has been meticulously engineered to accommodate various payment methods, encompassing fiat, digital currencies, and automated transactions. Its primary goal is to provide a secure, rapid, and dependable platform for cryptocurrency transactions, bridging the gap between buyers and sellers. Notably, Mosquito Pay introduces an intriguing feature known as the ‘Pay With IOTA’ plugin, available for testing on their official website.

Leveraging the capabilities of Shimmer, Shimmer EVM, and multi-chain technology, Mosquito Pay envisions a future where blockchain-based monetary transactions seamlessly integrate into both the digital and physical worlds. Examples of such integration include Electric Vehicle charging stations, parking facilities, and smart metering devices. This paints a picture of a landscape where blockchain technology significantly reduces the friction traditionally associated with financial transactions.

Key Benefits of Mosquito Pay

• Notable fee reductions for sellers, particularly in micro-transactions under 10 euros, in comparison to traditional FinTech and credit card payment providers.
• Utilizing programmable money to automate everyday financial interactions within smart cities, ultimately saving time, energy, and resources.
• Providing a safeguard against the volatility often associated with cryptocurrencies. Mosquito Pay offers a feature to automatically swap volatile assets for stablecoins, ensuring retailers remain insulated from unpredictable market swings.

Established in 2019, Mosquito Pay has since expanded to an eleven-member team, boasting diverse expertise spanning mechanical engineering, legal, and financial domains. They actively collaborate with IOTA and Shimmer ecosystem projects, with aspirations to become a Software-as-a-Service provider in the emerging field of programmable money.

Mosquito Pay envisions a future where the boundary between digital and physical transactions blurs, enhancing the utility of cryptocurrencies in day-to-day financial interactions. The partnership with the Touchpoint Open Builders Program signifies the evolution of blockchain technology into a mainstream transactional framework. The venture is already on a trajectory toward real-world adoption, with plans to integrate with points of sale that accept a variety of cryptocurrencies alongside traditional payment methods.