On 23 Jan, AXS announced in a press release that customers using its mobile app can now pay bills using popular cryptocurrencies.
Through a partnership with cryptocurrency payment firm Triple-A, AXS has made the option available for 550 of its 600 services.
Users can choose to make the payment via four currencies: Bitcoin, Ethereum, Tether or USD Coin.
According to a press release on Tuesday (23 Jan), AXS revealed it has partnered with Triple-A to enable users to pay their bills in four digital currencies — Bitcoin, Ethereum, Tether or USD Coin.
The option is only available for 550 out of 600 AXS services, not for the 50 services covering credit cards and bank loans, reported The Straits Times (ST).
AXS app users can thus top-up or pay recurring bills such as road taxes.
Triple-A acts as a gateway that receives the payment before converting the cryptocurrency into Singapore Dollars (SGD) and crediting it into AXS’ bank account.
For now, the option to pay using crypto is only available on the AXS mobile app.
Source: AXS Pte Ltd on Facebook
In a Facebook post revealing the new payment method, AXS said that customers will be charged a 2% service fee upfront.
According to ST, AXS and Triple-A aim to introduce the service to the 650 AXS machines across Singapore. They also target its release on the AXS website by Q2 2024.
AXS Services CEO Chin Mun Chung said the collaboration will allow the firm to cater to users’ evolving preferences.
“This partnership reinforces AXS’ position as a forward-thinking and customer-centric payment solution provider, ensuring that our users enjoy utmost flexibility in their financial transactions,” he said.
In addition, Triple-A CEO Eric Barbier noted that the mode of payment comes with newfound efficiency.
He said that the collaboration with AXS will offer users more convenience and choice when paying their bills.
“By accepting digital currencies, AXS can enjoy reduced processing times and fees,” he explained.
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Featured image adapted from AXS Pte Ltd on Facebook and André François McKenzie on Unsplash.
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