Belgian digital parking business, Seety has added crypto payments support for parking tickets. The company says it expects Bitcoin and other cryptocurrencies will find greater use in the future.
According to a story published by DataNews on Thursday, the company, which is one of the startups supported by the Belgian accelerator program Start it @KBC, has launched a crypto payment service in Antwerp and Brussels.
Users will be able to pay for parking tickets in both cities using Bitcoin (BTC) starting on Thursday.
Customers can also utilize cryptocurrencies such as Ether (ETH), Bitcoin Cash (BCH), Dogecoin (DOGE), and Litecoin (LTC), as well as stablecoins like Dai (DAI) and USD Coin, in addition to Bitcoin (USDC).
Customers who want to pay for parking using cryptocurrency will use the “coins” to purchase Seety credits on the company’s app platform. According to the article, customers will not be charged any additional fees for utilizing cryptocurrency.
By 2022, the Seety app is expected to have over 355,000 users in Belgium and the Netherlands, with an annual turnover of over 2 million euros.
Using cryptocurrency to pay for a parking spot is symbolic of how cryptocurrencies could eventually acquire broader adoption in everyday microtransactions, according to the company. Seety believes that as tokens become more environmentally friendly, crypto use will increase.
Using Bitcoin to pay for parking tickets dates back to 2014, when the Brawker app was still active. Crypto payment solutions for microtransactions are getting more popular these days, despite the fact that considerable barriers remain in the way of wider use.
Crypto credit cards and stablecoins are also making it easier for merchants to accept cryptocurrency payment options on their platforms by simplifying the process of spending cryptos.
Visa just announced that its crypto-enabled cards processed over $1 billion in bitcoin spending in the first half of 2021, as previously reported by Cointelegraph.