Coinpip is to launch a new payment option, enabling anyone to send Bitcoins to anyone in the world via SMS.
The Singapore based payment processor is collaborating with US based 37coins, who have developed an SMSWallet, meaning people shall be able to send Bitcoins through a CoinPip Merchant Point of Sale from a mobile phone; and it doesn’t even need to be a smartphone – since the technology shall be using SMS, therefore any mobile phone will work.
CoinPip’s co-founder, Anson Zeall, wants to enter the Hong Kong and Indonesian markets very soon, with an eye for the entire South East Asia region later on, elaborating,
“The mobile market in South East Asia is extremely massive but the usage of smartphones is still lagging. So QR code scanning is not that useful. Thus the collaboration with 37coins is going to make payments more convenient for everyone else.”
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Whilst Johann Barbie, CTO of 37Coins explained,
“The 37coins gateway system is distributed, and modeled after Bitcoin itself. A person that deploys a gateway gets a tiny % of the transaction which turns it into an entrepreneurial opportunity.”
The 3G market in a lot of countries is still very limited, and it’s particularly these regions that CoinPip are looking to target, I think this is an excellent idea. I wrote an article in late April, explaining that for Bitcoin and altcoins to really become what they seek to achieve, will take some time, due to their very innate nature of virtualizing the economy. However, with SMS being perhaps the only technology that can be considered truly ubiquitous, it will no doubt make this underlying goal more achievable and realistic.
The official launch shall take place in two days time, at the BOOST Bitcoin Event in Singapore.