In today’s digital landscape, two prominent players are set to reshape the decentralised payments scene in South Africa: MetaMask and Xion Global. Their collaboration is not just a fusion of strengths; it’s a vision, a roadmap to the future of payments in South Africa.
Web3 Payments in South Africa
MetaMask (MM), globally recognised as the world’s leading self-custody wallet with 30+ million users, serving as a bridge to the decentralised web and a primary wallet provider for web3 payments on Xion Global. With that in mind, Xion Global offers a user-friendly web3 payment solution, ensuring that both tech enthusiasts and everyday users can navigate the crypto payments world with ease.
With MetaMask’s integration into Xion Global’s web3 payment products, South African consumers will be able to connect their MetaMask wallets and perform once-off token approvals to enable 1-click web3 payments on any of Xion Pay’s client apps.
According to a Consensys and YouGov global web3 perception survey conducted earlier this year among a representative sample of over 15,000 people aged 15-64, which included 983 respondents from South Africa, the findings indicate that 21% of South Africans currently own cryptocurrencies, and 38% have had ownership of cryptocurrencies in the past. These statistics signal that South Africans are already embracing cryptocurrency and are well-prepared to take a leading role in the web3 evolution.
Scan to Pay: Modernising Transactions
Central to this partnership is the integration with Scan to Pay, powered by Ukheshe. They are the largest QR ecosystem in South Africa that is used by more than 700,000 vendors, 14 banks and fintech companies and 94 payment service providers.
This means that whether you’re ordering online, grabbing a quick bite, or making a significant purchase, it’s as simple as scanning the QR code, choosing your connected MetaMask wallet, and clicking “Pay”.
One Click, Multiple Chains
Don’t forget Xion Global’s 1-click payment solution, powered by their Cross-Chain Payments Protocol (CCPP). This ensures users can transact effortlessly across various blockchain networks with supporting AML/KYT checks to prevent illicit funds entering the Xion ecosystem. But the innovation doesn’t end there.
Xion Global is introducing a range of incentives for MetaMask users, from covering token approval gas costs to rolling out loyalty rewards and cashback offers. Every transaction is not just streamlined but also rewarding.
“Our mission at Xion Global is straightforward: to make every web3 payment as simple as a single click. Partnering with MetaMask, leveraging the robust infrastructure of Polygon Labs and Scan to Pay’s extensive user base, we’re turning this vision into reality,” shares Aeryn Quarmby – Co-Founder & COO at Xion Global.
“Thanks to the robust capabilities of the MetaMask SDK and developer APIs, we have seamlessly integrated the MetaMask wallet with Xion Global’s payment solutions. The MetaMask Provider API ensures a smooth and secure connection, enabling seamless interaction with the MetaMask wallet,” remarks Liz Mathew, Go-to-Market Lead at Consensys.
The Journey Ahead: MetaMask and Xion Global
While the immediate goal is to revolutionise South Africa’s digital payment ecosystem, there are a series of integrations in the pipeline (e.g. Embedded MetaMask, Linea, the Consensys L2 solution) to roll out web3 payment solutions across African payment and financial service providers.
The synergy between MetaMask and Xion Global is a testament to what the future of finance in Africa could look like. It’s a world where the boundaries between traditional and digital finance are blurred, offering a seamless, integrated, and rewarding financial journey for both the web3 community and traditional users.