Abra, a renowned cryptocurrency wallet application, has begun selling digital currencies for cash across all the 7-Eleven stores based in the Philippines. The company has achieved this feat through its latest collaboration with ECPay, Philippines’ eminent electronic payment service provider. Abra officially announced the update on September 18, 2019, through a blog post.
According to the announcement, the collaboration will enable all the Abra users to add money into their Abra wallet conveniently via any of the 6,000 retail branches under the network of ECPay located all across the country, including the 7-Eleven outlets.
The company believes that using newer digital tools which offer financial access, moving fiat to crypto or any other digital asset should be simple, fast, and easy. The aim is to make digital currency usage and investments simpler and accessible to everybody, highlights the official blog.
In an official statement announcing the new partnership, Bill Barhydt, the Founder-CEO of Abra, stated that they are thrilled to take the next step which brings them closer to their vision of a financial system that is easy-to-use and open for everyone. Abra users can now easily and quickly add pesos to Abra and utilize the same for making investments into cryptos or other popular stocks, such as Facebook, Amazon, or Google, opening new doors of building wealth, Barhydt added while divulging more details.
With this new rollout, Philippines consumers can purchase digital currency through CLIQQ kiosk or CLIQQ mobile application wherein they will discover Abra listed under the option of “Bills Payment.” Users can then add the amount they wish to deposit in their Abra wallet app. The maximum and minimum deposit amount per day is PHP 100,000 and PHP 500, respectively. The platform has also levied 2 percent charges as transaction fees.
Once the details of the transaction are confirmed, the receipt printed, and the transaction completed with the cashier, funds would be added as PHP to users’ Abra wallet within one-to-two business days’ period, except for holidays or weekends.
ECPay’s general manager, Trisha D. Pascual, said that this collaboration expands ECPay’s service offerings to its Partners such as 7-Eleven, LCC Malls, Supermarkets, and Department Stores, as well as other Remittance and Pawnshop partners. In addition to that, ECPay will also be providing Abra wallet customers with extensive top-up options, making it all the more accessible and convenient, added Pascual.
While concluding, the Abra blog post revealed that more exciting announcements are coming soon to make money easier.