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Payroc, Ethos Announce U.S. Cryptocurrency Payments Partnership

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07/16/2018 | 10:13am EDT

Agreement to Enable Consumer Crypto Payments at Participating Merchant Locations

Payroc, LLC, a leading merchant services and payment processing organization, and Ethos.io PTE, a leading cryptocurrency services platform, today formally announced their partnership to create a best-in-class cryptocurrency merchant payment processing service. The Ethos Bedrock platform will be integrated with Payroc’s payment gateway platform, enabling a simple “Pay with Crypto” button to be placed on merchant websites, giving consumers the option of paying with cryptocurrency in addition to traditional payment forms. The companies made their partnership intentions known late last week during Digital Currency Con in Park City.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180716005176/en/

“We're excited about partnering with Ethos as it brings together the traditional payments world Payroc operates in with new digital currencies,” said Jared Poulson, chief integrations officer for Payroc. “Our merchants will be able to accept payments via traditional credit cards, ACH, PayPal and now popular cryptocurrencies,” added Poulson. “We have been tracking Ethos for quite some time. Their commitment and vision of bringing the benefits of blockchain technology to the mass market aligns with Payroc’s culture of innovation, trust and stability.”

The partnership will facilitate direct consumer-to-merchant crypto payments, encompassing common cryptocurrencies such as Bitcoin, Ethereum and Bitcoin Cash, as well as the Ethos token which acts as the gas for the Ethos ecosystem. Ethos Bedrock also abstracts blockchains, and therefore can support other cryptos such as Ripple and Litecoin.

Benefits to participating merchants include instant crypto payments and settlement made directly from consumer crypto wallets, plus immutable transactions with no chargeback risk. Consumer benefits include the opportunity to pay from mobile devices in cryptocurrency with the security and convenience of Ethos Universal Wallet’s easy-to-use, decentralized self-storage that keeps tokens, coins and digital assets safe and secure on the blockchain.

“Payroc is a stable, trusted and visionary partner,” said Ethos Chief Executive Officer Shingo Lavine. “Ethos is dedicated to bringing cryptocurrency to the masses, and partners such as Payroc are an integral part of our delivery.”

About Payroc LLC

Payroc, headquartered in the Tinley Park suburb of Chicago, drives commerce for its merchants with anytime, anywhere payment solutions. Payroc serves its referral partners and merchant clients with integrity as trusted advisors and recognized experts in payments, providing transparent pricing clarity, and developing personal relationships while delivering exceptional technology. Payroc has registered to become an ISO of MB Financial Bank, N.A., Chicago, Illinois; is a registered ISO and payment facilitator of Fifth Third Bank, Cincinnati, Ohio; and is a registered ISO of Wells Fargo, Concord, California. Payroc services and supports more than 30,000 merchants throughout North America, providing stability in payments by safely and securely processing more than $8 billion in annual volume. For more information, please visit payroc.com or telephone 844-PAYROC-4.

About Ethos.io PTE LTD

Ethos is a leading cryptocurrency services provider that is building a bridge between the blockchain and existing financial institutions and systems. The Ethos Universal Wallet enables anybody to securely safe-keep their own crypto assets easily, safely and for free. The Universal Wallet is decentralized, with consumers creating and owning their own private SmartKeys that secure personal digital vaults. The Universal Wallet is built on Bedrock, a foundation platform that abstracts and makes blockchains more accessible, secure and compliant for both people and financial institutions. Ethos has built a blockchain dream team of financial and technology executives with experience at companies like Blackrock, Citrix, Deloitte, Freddie Mac, Merrill Lynch and UBS. Ethos is headquartered in Singapore with a global presence and community. Learn more at ethos.io.


© Business Wire 2018
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