PayTezo, an Indian cryptocurrency payments app, has announced plans to launch operations in April this year.
The app will enable customers to make fund transfers, manage money, make purchases, and pay bills using cryptocurrency.
It will convert cryptocurrency to fiat currency at nearly zero exchange rate, with the conversion process being instant.
Users can make payments through PayTezo by scanning QR code. They will also be allowed to make direct crypto payments to PayTezo partners, which include Vodafone, Uber, and Amazon.
“PayTezo’s main aim is to make the crypto-currency useful for day to day life of common people. PayTezo envisions to be the Alipay of Southeast Asian and the Indian market,” the firm said in a statement.
Initially, the app will facilitate payments in Bitcoin, Ethereum, and Litecoin and plans to add support for another four cryptocurrencies later on.
The project will be financed by large private investors, and also through an ICO, which will held later this month and aims to raise $30m.