Mobile app shot of Uber

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Vendit, a cryptocurrency firm, now supports Uber. The announcement specified that users will be able to add credits to their Uber App by buying with cryptocurrencies. According to AMBCrypto, this will allow cryptos to be credited to the user’s Uber wallet, which can be used to pay for cab rides.

A public announcement, along with a video showing how the transactions works, on Vendit’s website said,

“It is with great pleasure for Vendit to announce that Uber has been added to Vendit’s payment system allowing people to be able to add credits to their Uber App by purchasing with cryptocurrencies. We believe this will set the benchmark in the use case scenario for cryptocurrencies and hope others believe it as well. We look forward to continuing the goal of mass adoption and adding more merchants in the near future. Stay tuned.” (Vendit Team)

Last January 25, Vendit Exchange said in a tweet, “In case you were wondering… Uber has been added to the payment system of Vendit allowing people to add credits to their Uber App by purchasing with cryptocurrencies. We look forward to continuing the goal of mass adoption!” which garnered some positive reactions and even some questions from other Twitter users.

BTC Wires added that multiple companies, such as Bitcoin and Ethereum, had been making attempts to do the same, but Vendit is the first and only crypto firm to successfully link Uber to a wallet credited by any digital currency. As shown on Vendit’s website, a special merchant processor software which can be adopted into a POS or Point of Sale merchant system is being used by the Vendit payment system, enabling itself to be smoothly and continuously integrated with applications such as Uber. As of the moment, Vendit also supports other well known apps and services such as IHOP, Panera and Domino’s Pizza, the popular American pizza chain.

This is actually not new for the world’s largest ride-hailing service app as it had been affiliated already with the crypto-world before. As reported by Cointelegraph in 2016, Uber had declared its acceptance of Bitcoin as payment for its services in consideration of the Argentinian government blocking the use of credit cards, as reported CNN, especially in Buenos Aires. Still, even after many protests by Argentina’s local cab services, Uber was restricted in the country.

Vendit’s founder and CEO, Mike Hu, said that they are not stopping at Uber. Based on Vendit’s white paper entitled Enabling Instant Merchant Transactions Using Any Cryptocurrency, Hu emphasised that the company has thought out milestones in the future that would aid in quickening the widespread adoption of digital currency while, eventually, more popular apps will join the bandwagon and be supported by the online crypto payments system.

Will Vendit’s initiative encourage other popular apps and services to accept cryptocurrency as well? Will it eventually be accepted as a norm? Or will it just show the potential problems people might encounter with the online payment system and cryptocurrencies? Share with us your thoughts on the comment section below!