Delivery App Rappi Launches Pilot Project to Accept Crypto Payments in Mexico – Rappi, one of the most prominent delivery services in Latin America, has decided to include cryptocurrency into its app. Customers will be able to acquire Rappi credits directly from the app using cryptocurrencies as a payment method, according to the business, which earned a valuation of more than $5 billion in its Series G fundraising round last year.
These Rappi credits can then be used to pay for delivery services using the app. The Colombian company, which became the first Colombian unicorn in 2018, has a presence in practically every country in Latin America, including Costa Rica, Mexico, Colombia, Ecuador, Peru, Chile, Uruguay, Argentina, and Brazil.
Rappi, on the other hand, has stated that this new pilot project will be exclusive to Mexican customers and has made no mention of a possible extension.
The use of cryptocurrencies reacts to the growing importance of the digital world and the necessity for innovative ways for users to interact with the app. Rappi’s president, Sebastián Mejia, spoke about the importance of innovation and cryptocurrency for the company’s future:
“One of Rappi’s foundations is innovation. We’re interested in the crypto world, and we feel that the future lies in the intersection of the crypto world with non-crypto firms, with simple user interfaces and minimal complexity.”
Despite the fact that the pilot project is still in its early stages, the company has indicated that it’s working with local exchanges to completely integrate their offerings and make it easier for users to use their cryptocurrencies in the app. Rappi mentioned Bitpay and Bitso, two exchanges with a presence in the region, as participants in this case.
Delivery App Rappi Launches Pilot Project to Accept Crypto Payments in Mexico – Rappi also noted that the company is working to improve the app’s and exchanges’ transaction security. Other Latin American businesses are also dabbling with cryptocurrencies in their business structures. This is the situation with Nequi, a Colombian fintech company that intends to enter the bitcoin industry in the country.