ShakePay-Bitcoin Payments App Enters Canadian Market: Report

A bitcoin payment app has just entered the Canadian market dubbed ShakePay, for irreversible fiat mobile payments that will continue focusing on crypto so let’s find out more in our latest Bitcoin news.

Shakepay, a Bitcoin-buying mobile app launched peer-to-peer payments since services like Cash App and Venmo are unavailable in Canada. The mobile payments system is based on Canadian dollars. The app, a regulated mobile app that lets Canadian customers buy Bitcoin and Ethereum announced that it publicly launched a peer-to-peer payments feature in the iOS and Android app. The Americans have mobile apps like Cash App and Venmo for faster mobile payments but they don’t work in Canada. The country has an interface-transfer payments system via banks and other financial institutions which are used for paying bills and rent but unlike that system, Shakepay will require only a username or phone number. As such, the company claims that it is Canada’s first peer-to-peer payment system. CEO Jean Amiouny said:

 “It’s time that we bring payments to the 21st century in Canada. Right now, it’s a hassle to do something as simple as paying back a friend for dinner. With Shakepay, sending cash to a friend is as easy as sending a text.”

Every time you shake your phone, central bankers lose some of their money printing powers.

Every time you shake your phone, you get a little closer to financial self-sovereignty.

— Shakepay — Buy/Sell Bitcoin 🇨🇦 (@shakepay) October 7, 2020

ShakePay launched two years ago and has amassed more than 100,000 users to date via the BTC and Ethereum buying service. The peer-to-peer payments features were available in beta testing in recent months with more than $2 million in Canadian dollars that are sent and received to date, as Amiouny said:

 “We realized that customers love it because it’s just so easy. It arrives instantly, transactions are irreversible, and there’s just no headache to transacting on the platform. We’ve already had millions of dollars in transactions between customers.”

The peer-to-peer system is based in fiat currency so Shakepay will continue the core focus on crypto sales and education. He said that the app is designed for the average Joe and that the average Bitcoin transaction is about $100 with the app making it clear that they will educate users about how to transfer, buy and control their cryptocurrencies. Adding peer-to-peer payments is just the next step on the path:

 “Our mission is to create open access to building wealth, and we believe Canadians are doing that by buying Bitcoin and learning about this new monetary technology. It allows people to be self-sovereign to their own wealth, and Shakepay is very much about that. This P2P feature is really just an extension of being able to control and own your own wealth.”