Pay It Now Plans Offering to Accept Crypto for B2B

Pay It Now token (PIN) has rolled out a business development offering and hired an in-house specialist business development team, according to a Jan. 1 CoinPedia report.

The company is ramping up its product suite to give businesses and website owners a new way to utilize layer 2 technology to accept cryptocurrencies, and customers will also be able to access rewards.

The business-to-business (B2B)-focused creation of the new offering comes after a variety of industries said they could make use of it. Per the report, there will be an initiative to put in place a way to mass-onboard businesses, bringing the PIN token to as many businesses as possible.

This comes after a problematic launch, but PIN says it has now resolved those issues and is looking to drive volume from businesses making use of the PIN token through outreach strategies. It will look at various specific businesses and markets which can use its suite of products for things such as data storage, payment processing and rewards.

With more merchants accepting PIN-related payments, daily buys will be up and will be backed by projects which have to use the token to boost their own offerings, per the report.

The new team will be led by “one of New Zealand’s top mortgage brokers,” along with an Australian territory team led by the former owner of a worldwide franchise. Business will be done internationally with companies who can qualify to use PIN.

The team also plans to add more blockchain development capability by hiring another developer. PYMNTS wrote recently that the advantages of using crypto for B2B could allow for new ways to pay and get paid.

Read more: Will Cryptocurrencies Convert Skeptics, Gain Momentum In Business Payments in 2022?

Christophe Lassuyt, co-founder at Request Network, said it was important for businesses to adapt to new ways of paying. Request Network had worked on an app for billing customers in crypto, which Lassuyt said had seen activity from “internationally remote” businesses which have found crypto a boon for them, thanks to its speed and efficiency.