Xion Global, a South African based fintech company, has developed a decentralized payments gateway that allows online businesses to accept multiple payment options, including cryptocurrency, which skips the scrutiny of traditional card payment providers.
Xion Global was founded by South African brothers Ronan and Aeryn Quarmby and Brent McMahon-Panther, who developed the payment gateway after experiencing frustrations with payment options currently available for online businesses. They felt the system was too complex and the high fee structures automatically excluded smaller business owners.
Having spent the last four years in research and development, Xion Global has been registered in the British Virgin Islands but offers a global option in the e-commerce space. The company secured funding from 2 Cape Town based angel investors as well as a coveted investment from Swiss crypto investor, Crypto Valley Venture Capital (CV VC).
Global Blockchain Project
With expert team members based across 3 continents, but with their roots firmly based in South Africa, Xion is a global company going places. Beta testing of this first of its kind blockchain-based payments option is nearing completion and is set to launch early in the second quarter of 2021.
By simply adding 2 lines of code to a company website, Xion Global allows a business to be instantly transformed into an online store with payments taking place immediately. It offers 0% transaction fees for merchants.
The hyper secure financially integrated system removes cumbersome know-your-customer processes and middlemen and allows businesses in any industry to accept payments from anywhere in the world. There are no sign up fees and business registration is not required.
The Xion Ecosystem
The all-encompassing payments solution has been developed to not only make life easy for SME’s but offers retailers rewards and recurring revenue models which will bring together new ways for brands to interact with their customers.
Xion Global has a vision of building an ecosystem of payments, rewards, shopping and logistics are all available through one global interface. Xion Finance, a division of the Xion group, is the group’s next step and forms part of the goal to build a customer base that is ready and waiting for new merchants and their products. Xion plans to build a customer base through decentralized finance (DeFi) which aims to reward customers with a rewards mechanism that they will able to redeem with all merchants.
As well as allowing merchants to earn interest on their received payments and to transact within the system using Xion’s Native XGT token on the xDAI sidechain which aims to reduce costs and fees associated with a traditional business model.
Any cryptocurrency investor, no matter how big or small is welcomed at Global Finance, who have built finance on the XDAI chain to reduce costs meaning anyone can invest and anyone can receive rewards, from as little as a $1 investment. Xion Finance currently has over $400’000 locked in and over 4’000 wallets with almost 40’000 transactions to date.
With e-commerce growing rapidly due to the Covid-19 pandemic, and businesses and buyers around the world changing the way they spend and make money, Xion Global and Xion Finance offer a simple and seamless solution that also brings practical functionality to blockchain and cryptocurrency for real-world usage.