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Paytaca Marketplace, P2P Exchange Launches in Tacloban

Photo for the Article - Paytaca Marketplace, P2P Exchange Launches in Tacloban
  • Paytaca is launching its Marketplace and Peer-to-Peer Exchange at Robinsons malls in Tacloban City on March 15-16.
  • The Marketplace allows users to use Bitcoin Cash (BCH) to purchase products from partner merchants, with prices approximately 20% lower due to reduced payment processing overheads.
  • The Peer-to-Peer Exchange enables secure buying and selling of BCH with fiat currency within the Paytaca app, operating on a non-custodial basis with funds held in escrow using smart contracts.

Local fintech firm Paytaca is set to unveil its Marketplace and Peer-to-Peer Exchange to the public at Robinsons malls in Tacloban City on March 15-16. These events aim to bring together mall tenants, business owners, local leaders, and supporters to introduce innovative platforms integrated into the Paytaca app. 

Marketplace and Peer-to-Peer Exchange

The launch events will happen on March 15, 2024, at 5:00 PM at the Robinson’s Place Tacloban Activity Area, and on March 16, 2024, at the Robinson’s North Tacloban Activity Area. it will be hosted by Paytaca Brand Ambassadress Demi and will be led by Mitch and Cladge, Paytaca Brand Evangelists.

According to the firm, these new platforms are crucial parts of its #BitcoinCash Revolution and are set to reinvigorate the peer-to-peer economy.

Photo for the Article - Paytaca Marketplace, P2P Exchange Launches in Tacloban

“The launch is a culmination of almost a year of development work and also marks the beginning of a new stage in our company. The marketplace is going to be a major revenue source, a model that not so many crypto wallet apps have explored before, if any. We will see the numbers 3 months down the road but we are confident that the savings, convenience, and the much-improved experience our marketplace offers over competitors is going to result to massive growth within a few years,” Paytaca CEO Joemar Taganna told BitPinas.

Paytaca Marketplace

As per the firm, the Paytaca Marketplace is poised to revolutionize cryptocurrency payments with Bitcoin Cash (BCH), aiming to generate substantial commercial value. 

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Through the Marketplace users can utilize BCH to purchase products from partner merchants. Moreover, Paytaca noted that the use of BCH reduces payment processing overheads, leading to prices approximately 20% lower than other platforms. 

Paytaca anticipates drawing the interest of many businesses and government agencies with this platform as it will showcase substantial cost savings in e-commerce, resulting in more accessible products and services for consumers.

Photo for the Article - Paytaca Marketplace, P2P Exchange Launches in Tacloban

“Many of the merchants we have onboarded that have now been accepting Bitcoin Cash payments will be selling through our Marketplace. In the next 2 weeks up to 10 shops will be live as they complete the training,” Taganna added.

Additionally, the company has previously revealed to BitPinas its intentions to broaden the Marketplace’s presence to Ormoc, Cebu, and Metro Manila within the year. Through this expansion, Paytaca aims to demonstrate the concrete advantages of using cryptocurrency payment systems and aims to attract billions of new cryptocurrency users.

Peer-to-peer Exchange

According to Taganna, the Peer-to-Peer Exchange within the Paytaca app enables users to securely buy or sell BCH with fiat currency. It operates on a non-custodial basis, with funds held in escrow using smart contracts, ensuring a truly peer-to-peer experience. 

“This p2p exchange is our primary on-ramp platform so people can load up BCH into their Paytaca wallet or vice-versa,” he added.

Recent Paytaca News

Last month, Paytaca engaged students at St. Paul’s School of Professional Studies’ BizRed Days event in Palo, Leyte, showcasing Bitcoin Cash (BCH) transactions through a campus vending machine. 

In 2023, the firm introduced CashTokens Studio, a platform allowing users to generate both fungible and non-fungible tokens (NFTs) on the Bitcoin Cash blockchain using the Cash Tokens protocol. The studio, backed by the BitCats Heroes NFT mint, is currently live on the mainnet.

Paytaca also co-hosted a Bitcoin Cash gathering in Hong Kong last year, where people shared their views and experiences regarding Bitcoin Cash and its future. 

Last July, Paytaca secured $450,000 (₱24.5 million) in seed funding to advance peer-to-peer payments and advocate for Bitcoin Cash adoption in the Philippines. The investment is intended to revolutionize the local payment sector by offering innovative solutions.

This article is published on BitPinas: Paytaca Marketplace, P2P Exchange to Launch in Tacloban

Disclaimer:

  • Before investing in any cryptocurrency, it is essential that you carry out your own due diligence and seek appropriate professional advice about your specific position before making any financial decisions.
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