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Pay for Taxi with Crypto in UK and Scandnavia

Thousands of taxis in Scandinavia and the UK will soon be able to accept payments with cryptocurrency. Expected to begin with a beta rollout in November, Hips, a provider of e-commerce/mobile payment solutions, and The Payment House ...

Jay Sharma

8 minutes

Thousands of taxis in Scandinavia and the UK will soon be able to accept payments with cryptocurrency.

Expected to begin with a beta rollout in November, Hips, a provider of e-commerce/mobile payment solutions, and The Payment House, a European-based payment processor for taxi companies in Scandinavia, will enable payment with cryptocurrency in over 20,000 taxis in Scandinavia and 10,000 taxis in the UK.

This solution will use the Hips Merchant Protocol (HMP) and Hips Merchant Gateway (HMP-gateway) over Ethereum. HMP, HMP-gateway, and the governing Merchant Token (MTO) is a solution that introduces consumer protection concepts from traditional card payments to the Ethereum blockchain, among others.

"With this important partnership, Hips provides another avenue for crypto payments to have market penetration. The consumer-oriented features of the MTO will further allow crypto currency to gain worldwide mass-adoption among mainstream consumers."- John Cavebring, CEO of Hips

Merchant Token (MTO) and USD Coin (USDC) will be the only tokens available to pay with at this time. Support for other cryptocurrencies will be evaluated after the beta time period

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Written By

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Jay Sharma

Jay is a seasoned crypto entrepreneur and technology innovator. As the Founder and CEO of Botsfolio, he has been at the forefront of the blockchain revolution since 2017. His practical experience extends to the technical nuances of crypto mining, having successfully built and managed a substantial GPU mining operation. Jay developed a groundbreaking decentralised application for fractional real estate NFTs. This innovative project garnered significant recognition. Through his hands-on experience and analysis, he aims to provide valuable guidance and empower others to navigate the dynamic crypto landscape.

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