Digital Debit Group (DDG), a division of Qondado LLC, today announced the selection of Coinbase as the closed loop payment network of its mobile app. The company’s integration of the Coinbase banking system with the Digital Debit QR platform delivers the first global off-blockchain P2P mobile payments ecosystem for the Coinbase growing user base and provides the added benefit of tokenized QR transaction codes for real-time bitcoin account-to-account transactions.
DDG believes the opportunity to build Digital Debit with Coinbase will give their QR payment system a competitive boost in the growing real-time payments space and become an instant competitor to other mobile payment apps such as Zelle, Venmo, Square Cash, and Western Union. DDG designed the Digital Debit app with simplified features the company believes will better connect with new users, such as a single panel of operation for sending and receiving payments and the ability to personalize the app with custom background images.
The company also designed an innovative visual confirmation system for successful transactions that allow the sender and receiver of bitcoin to deal fast in rapid transaction environments such as in public venues, mobile food locations, passive donations, restaurants and courtesy tipping.
The company states that by coupling the app to the Coinbase platform, the app will allow users to instantly purchase bitcoin, load their linked accounts and seamlessly associate their bitcoin values with other bitcoin-enabled products such as the Shift Visa card. Digital Debit uses real-time bitcoin conversions to localized fiat currencies utilizing the BitcoinAverage index to offer the best continuity with global exchanges and wallets. Bitcoin values transferred to the Digital Debit app using tokenized QR codes exchanges payment off blockchain in real-time between Coinbase accounts. The app also supports legacy on blockchain transactions, third-party wallets, and cash deposit bitcoin ATM machines.
DDG roadmap with the Digital Debit app model includes integration with other banking platforms such as the EMVCo QR, The Clearing House Real-Time Payments, and PayPal with Qondado’s Digital Credit brand.
“We evaluated over 10 banking APIs to build our flagship Digital Debit app and found the Coinbase open banking platform to offer an exciting opportunity to reach a global audience. We are delivering an easy to adopt app that hides the complexities of Bitcoin behind fiat currency values that users understand. With the assurance that users can pay and get paid using local currency translation with one globally backed store of value, we see Digital Debit playing a significant role in the adoption of Bitcoin for day to day transactions.”