Raise to Power Payments for Polkadot's Upcoming Mobile App

Polkadot's new mobile app will feature Raise's advanced payment solutions to streamline cryptocurrency transactions, offering users a seamless and secure platform for managing digital assets and making everyday purchases.

Partnership Details

The Polkadot mobile app has found its payment provider. Raise, a leading payment provider and global gift card giant, has partnered with Polkadot’s parent company, Parity Technologies, to provide the payment rails for the upcoming app. This collaboration aims to enhance the app's transaction capabilities by integrating Raise’s advanced payment solutions. Polkadot users can now expect a seamless and secure platform for managing their cryptocurrency transactions.

Integration and Benefits

Raise's sophisticated payment infrastructure will be integrated into Polkadot’s robust blockchain and decentralized finance (DeFi) ecosystem. This partnership is expected to streamline digital payments, offering faster and more efficient transactions for users worldwide. The integration will support various functionalities within the Polkadot app, including real-time transaction processing, multi-currency support, and enhanced security features.

Raise CEO Discusses Partnership

George Bousis, Founder and CEO of Raise, addressed the news, highlighting the bridging of the gap between digital and traditional finance. He also mentioned that Raise had already discussed its utility in customer transactions back in 2015 but was held back by technological constraints. 

Talking about the partnership with Parity, Bousis said, 

"The Polkadot blockchain provides the technical backing needed to finally bring our vision to life. Together, we are making it easier and more rewarding for people to use their crypto for everyday transactions. We couldn't be more excited to partner with the Parity team and we look forward to showcasing how crypto can be seamlessly integrated with retail and e-commerce going forward."

Future Plans

The Polkadot app is scheduled for release in Q3 of this year. Users will be able to utilize Raise’s white-label payments and gift card infrastructure API to make purchases at millions of stores, both online and offline, and earn 20% cash back in $DOT on every app transaction. The app will feature a more intuitive and user-friendly interface, facilitating easier management of digital assets. Across the remaining months in this tear, the partnership between the two companies will focus on taking these capabilities global by introducing over 33 countries and over 5000 brands to crypto payments.

Björn Wagner, Co-founder and CEO of Parity Technologies, expressed his admiration for Raise’s vision of integrating crypto with retail through their gift card platform. 

He remarked, 

"I am proud of all we have achieved through this integration, allowing all $DOT holders in our ecosystem to utilize their assets in traditional commercial systems. This partnership with Raise opens up an entirely new audience to traditional e-commerce and this is only the beginning of what we have planned for the future."

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.