Tezos users can now spend their XTZ tokens at Visa and Mastercard terminals globally through Oobit's Tap & Pay feature, marking a significant step toward mainstream cryptocurrency adoption.
Oobit's Tap & Pay Revolutionizes Crypto Payments
In collaboration with the Tezos Foundation, Oobit launched its Tap & Pay functionality in August 2024, enabling seamless crypto transactions for everything from daily essentials to luxury purchases. Key highlights:
- Global Reach: Accepted at all Visa/Mastercard merchants worldwide.
- User-Friendly: Integrated into Oobit’s iOS/Android apps for one-tap payments.
- EU-First Rollout: Expanding to Asia and Latin America soon.
👉 Explore crypto payment solutions
Why Tezos Stands Out
Tezos was selected for this integration due to its:
- Self-Amending Blockchain: Eliminates hard forks through on-chain governance.
- Eco-Friendly Design: Low-energy Liquid Proof-of-Stake (LPoS) consensus.
- Smart Contract Security: Formal verification reduces vulnerabilities.
"This partnership bridges DeFi and traditional finance," notes Siddharth Singhal of Trilitech.
Boosting Real-World Crypto Utility
The integration addresses critical adoption barriers:
| Feature | Benefit |
|---|---|
| Instant Settlements | Near real-time POS transactions |
| Low Fees | <$0.01 per transfer (vs. traditional cross-border costs) |
| Fiat Conversion | Automatic XTZ-to-local-currency exchange at checkout |
New Oobit users receive a $10 welcome bonus on first Tap & Pay purchase.
FAQs
Q: How do I start spending XTZ via Tap & Pay?
A: Download Oobit’s app, link your Tezos wallet, and tap your phone at checkout.
Q: Are there transaction limits?
A: Standard Visa/Mastercard limits apply, varying by merchant and region.
Q: What currencies does this support?
A: Currently EUR, with USD/GBP/JPY coming in 2025.
The Future of Crypto Commerce
Oobit CEO Amram Adar envisions "a world where crypto wallets replace physical cards." With Tezos’ scalability and Oobit’s merchant network, this integration could accelerate:
- Mainstream retail crypto adoption
- Cross-border payment innovation
- Web3 financial infrastructure
👉 Learn about blockchain payment trends
Disclaimer: Crypto payments may involve tax implications – consult local regulations.