New Payment Application Uses Gold for P2P Transactions
Canadian company GoldMoney Inc. recently launched BitGold’s Request Gold Payment app, which allows users to send payments that are processed and settled as vaulted gold. Transactions can be one-time or recurring payments, such as installment paybacks, subscriptions or service retainers.
The app offers an alternative to traditional bank money transfers. Gold Money Inc., a gold-based financial service company, believes sending and receiving money can be simplified using gold and the app’s automated payment tools. BitGold’s app allows users to send and request funds from any currency, transfer funds to any currency or keep the monetary value in gold. There is a 1% transaction fee.
“Gold has always been a great savings currency,” said Darrell MacMullin, CEO of BitGold. “Now we add utility to gold with an easy to use operating system utilizing the latest payments technology. The BitGold Request Gold feature provides a truly global, efficient alternative to conventional bank or money transfer services and their ‘hidden fees’ in order to request or transfer value cost effectively. As a onetime payment request, or recurring in subscriptions, installments or retainers, this new feature has been designed to take the complexity and hidden costs out of requesting or sending funds globally, saving users both time and money.”