Pay for Taxi with Crypto in UK and Scandnavia

05/04/2021

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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