Qi Announces Web3 Functionality
Qi CEO, Mann Matharu Reveals Web3 Integration for ‘Traditional’ Payment Service Providers
3 March 2022, London UK – Qi, a blockchain focused FinTech from the UK’s CEO and Founder, Mann Matharu, today announced that Web3 functionality will be incorporated into the company’s Synergy API, which enables almost any ‘traditional’ payment processing provider to instantly add crypto payment options for consumers and merchants alike. The company has recently announced a major partnership with Cardstream, UK’s largest independent payment gateway provider.
Web3 represents the next iteration of the evolution of the web. Built upon the core concepts of decentralization, openness, and greater user utility, the most visible change will be the removal of the internet’s powerful middlemen. Capabilities like Semantic Web, AI, and machine learning that are at the core of Web3 have the potential to greatly increase application in new areas and vastly improve user interaction.
New blockchain uses are constantly emerging as more companies research ways to incorporate it into their industries and internal procedures.
“Not a single hour goes by where crypto or blockchain related activity is not mentioned in the media (mainstream or social). The last couple of years has seen a surge in interest in crypto based projects”. Matharu wrote in a recent blog post. “…we are focused on our vision to enable blockchain based payment tools to the business world, my vision is to continue building blockchain infrastructure so that DeFi can sit alongside traditional payment services, in a mutually complimentary manner” he added.
Qi’s Synergy API was first released in 2021 and is designed specifically for system integrators and FinTech’s who wish to embed crypto payment processing solutions into their own technology stacks. The very same API can be also used by card processing service providers. The API is expected to be updated with Web3 functionality over the coming few weeks. A full rollout is anticipated to be sometime in Q2 of 2022.
Qi’s technology enables businesses, developers, Payment Service Providers and Fintech partners of every size to use their blockchain connected platform as an integrated solution to accept and offer digital currencies as a payment method.