US-based blockchain fintech startup PAYMYNT Financial has acquired cryptocurrency payments technology company LettucePay.
Financial details of the transaction were not divulged.
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LettucePay was launched last year as a cryptocurrency app for merchants.
It helps merchants settle cryptocurrency transactions as USD payments, for minimal transaction fees.
As a result of this acquisition, PAYMYNT Financial will integrate cryptocurrencies, such as Bitcoin, as a payment method at top retail locations, effectively immediately.
PAYMYNT Financial has retained two former LettucePay team members, the full-stack engineer Ari Mizrahi and blockchain adviser Brian Goldberg.
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By GlobalDataThe PAYMYNT team will integrate LettucePay’s software with PAYMYNT Rewards, its next-gen mobile commerce rewards app.
The PAYMYNT Rewards app, which will be available to download on Apple and Samsung devices, will be launched early this year.
Meanwhile, those interested can join the PAYMYNT Rewards waitlist online at paymynt.money/learnmore.
The app is designed to bring together online shopping, digital banking, peer-to-peer payments, and financial investments, all in one place.
PAYMYNT Financial CEO Michael Rosa said: “Our shopping rewards platform utilises Stellar Network’s blockchain technology.
“Approaching the winners of the Stellar Network Community Fund was an easy decision.
“Together, our team is ready to bring the benefits of blockchain to larger audiences.”
PAYMYNT Financial Group is an all-in-one online shopping and financial management platform for the underserved. It is based in Greater Boston, Massachusetts.
