Helio Aims to Rival Apple Pay as it Streamlines Cryptocurrency Payments in E-Commerce
Summary:
As cryptocurrency becomes more prevalent, platforms like Helio are arising to bridge the gap between traditional methods of payment and new digital currency transactions. Helio, founded by Stijn Paumen and Jim Walker, facilitates the setup and acceptance of cryptocurrency payments for e-commerce platforms and retailers of all sizes. Despite current limitations, Paumen sees potential for growth as customer familiarity with digital currencies increases, and mentions a potential role for crypto payments in platforms such as Vimeo and OnlyFans.
As digital currencies become more integrated into leading e-commerce institutions and retail outlets, the user experience and efficacy remain somewhat inferior to Apple Pay. In an intimate discussion with Cointelegraph, Stijn Paumen, CEO of expanding cryptocurrency transaction platform Helio, illustrates the field's early development stages. Paumen stated that although Bitcoin and Ethereum are breaking new ground in autonomous blockchain technologies, their base layers can't compete with traditional financial infrastructure's performance and versatility.
According to him, "Apple Pay sets the standard. The challenge lies in outdoing a service where a single tap of my phone completes a payment within three seconds". Helio, headed by Paumen, has a 15-person team in London. As innovative blockchain networks surface, the performance gap starts to close, albeit with initial roadblocks, as per Paumen.
London-based Helio, co-founded by Paumen and chief technology officer Jim Walker in March 2022, gears towards rectifying these challenges. Both partners had previously successfully transitioned from a start-up venture to the digital currency sector. Paumen mentioned that their interest piqued upon learning about Solana's high transaction rates and rapid closure, fuelling the development of a fresh digital currency transaction platform.
Helio permits businesses and e-commerce platforms of varying sizes to put in place and receive cryptocurrency payments. Paum states that the platform presently oversees $30 million in monthly payments but generally serves the Web3 space for merchant and user bases. The platform made significant advancements in the Solana ecosystem by aiding in the sale of 80,000 Solana mobile phones through their payment plugin.
However, Paum asserts that digital currency wallets and transactions may gradually become more popular as users become increasingly curious about digital currencies. He also stated that the onboarding experience needs improvement to cater to a large user demographic.
Paum shared a company-specific term, "crypto granny," which describes a novice crypt user. According to him, "Even a crypto granny should be able to buy a Bored Ape sweatshirt for her grandson without necessarily owning or understanding blockchain."
Paum ended the conversation by predicting a future where Apple Pay might finalize payments using their blockchain. Despite this, he remains a staunch supporter of a decentralized way to transfer money globally, with minimal to no intermediaries, quick or immediate settlement, and low costs. Finally, he believes that streaming platforms such as Vimeo and OnlyFans could prove advantageous for cryptocurrency payments.
Published At
4/22/2024 4:19:39 PM
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