Human Plus introduce crypto payment platform HUPAYX

South Korean crypto payment platform startup Human Plus has unveiled its human-centric payment solution with cryptocurrency utilisation ecosystem, HUPAYX.

The solution was recently released at the Future Blockchain Summit 2019 hosted by Smart Dubai.

HUPAYX has an objective to “transform traditional payment infrastructure” with all-in-one blockchain based cryptocurrency payment platform.

As Dubai’s government plans to transform the city to the blockchain capital of the Middle East, Human Plus said that HUPAYX will become its main cryptocurrency-based payment solution partner.

“Traditional payment infrastructure is not suitable to utilise cryptocurrencies in our everyday lives nor does it help us to eradicate existing cash ecosystem as a whole,” commented Human Plus head of global marketing team, Aibek Amandanov.

Human Plus said that in comparison to Visa and Mastercard, HUPAYX is significantly cheaper with just 0.5% processing fee per transaction for merchants of any size.

Retailers and merchants will have the option to purchase a proprietary point-of-sale (POS) machine which can then be used to accept payments from customers.

In addition, HupayX customers will have access to H-Exchange, a cryptocurrency exchange platform that offers real-time charts, API based trade settlements and HupayX wallet integration.

HUPAYX “strives to create an infrastructure where national governments, solution providers, businesses, SMEs and most importantly, the general public can benefit from spending their cryptos in their commercial activities.”

Human Plus also reported it has successfully signed four MOUs with companies from England, Estonia, and Australia.

The HupayX payment platform is due for beta release in Q3 of 2019, with the full launch planned for Q1 of 2020.