The Dash Investment Foundation (DIF) recently bought into CrayPay, a loyalty payment platform that lets users earn instant savings after spending at various stores. Through investing in CrayPay, DIF created a gateway for the DASH Core Group to develop a white-label version of CrayPay’s instant savings app for DASH users, as detailed in a January 12 press release. Reportedly, the Dash Core Group will develop a white-label version of CrayPay’s application, which would let DASH users spend their funds at CrayPay’s 155,000 partner merchant stores and in more than 75 national US retailer websites.
According to the press release, the Dash-enabled version of CrayPay’s application will have extra benefits than the regular CrayPay app. For instance, it will offer access to more merchants and more savings. This is because the DASH network features low transaction fees. Commenting on this development, Dash Core Group’s CEO, Ryan Taylor, said that CrayPay provides the best way for DASH users to spend their funds conveniently at numerous merchant stores.
Taylor added that the application would also offer a great purchase experience because users will enjoy more spending opportunities while saving more than they could when paying with a cash-back credit card. As a result, Taylor believes this move would incentivize DASH users to spend their coins regularly. In turn, the Dash network will achieve specific milestones.
The best option for payments
Speaking on behalf of CrayPay, its CEO, Marshall Greenwald, said,
“We’re excited to work with the Dash community to bring our loyalty program to Dash users. Dash’s InstantSend technology eliminates chargeback risks, which enables CrayPay to instantly authorize payment to our merchant partners, so Dash really is the best option for instant low-cost payments on our platform.”
Touting CrayPay’s business model, Darren Tapp, DIF’s supervisor, said the company had built a high-quality business. He added that on top of having massive potential as a business, CrayPay also offers DASH users a lot of value.
At the time of writing, DASH is changing hands at £95.6 after surging 0.27% over the past 24 hours. The coin has a daily volume of £ 1,013,570,494.4. It has a market cap of £948,833,308, which has seen it occupy the 31st position in the list of leading cryptocurrencies in terms of market capitalization.
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