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Exploring Crypto Payment Use Cases with Stablecoins: Ammer Group and Mento Labs Partnership

December 18th, 2023Victoria Calmon

Ammer Group is a Swiss company that develops innovative financial products and solutions based on blockchain technology, with a commitment to providing a decentralized payment system that empowers individuals and businesses, especially those underserved by traditional banking.

The company's mission to foster financial inclusion aligns with its efforts to enlarge its ecosystem. Ammer Group aims to enable more merchants to accept on-chain payments through their platform, and onboard more partners and users to expand the network. By doing so, Ammer Group seeks to provide diverse businesses and users who may not have access to a traditional bank account, with the essential tools to participate in the evolving landscape of decentralized finance (DeFi).

The Ammer Web3 Ecosystem features a hardware wallet (Ammer Card) and a software wallet (Ammer Wallet), a payment app (Ammer Pay) and a tokenization platform.

Ammer Cards: More Than a Card, it's a Wallet

Ammer Group introduces a unique product suite, including the Ammer Card and the Ammer Wallet. The Ammer Card is a non-custodial hardware wallet with the traditional look of a bank card, that securely stores a user’s crypto keys. However, unlike the traditional bank card, the owner of the Ammer Card holds all the funds, not the bank or any third-party intermediary. Virtual cards within the Ammer Wallet function as non-custodial software wallets, offering a familiar user experience.

Direct Crypto Payments

Through Ammer Pay, users can make direct (P2P) crypto payments without conversion to fiat. Ammer provides a convenient solution for unbanked and underbanked users without knowledge of banking technology or crypto, to seamlessly engage in financial transactions and obtain financial freedom. The Ammer Cards act as a bridge between traditional financial systems and the world of cryptocurrencies. To use an Ammer Card you don't need to have a bank account, or any knowledge of blockchain technology. You don't even need an internet connection! Ammer Cards are exclusively accepted within the Ammer Pay network, both online and in stores. The virtual card in the app allows users to make standard QR-payments with the Ammer Wallet, to manage and transfer assets, activate their Ammer Card, and create several virtual cards.

Secure and Accessible

Supporting multiple digital assets such as BTC, ETH, CELO, Mento stablecoins (cUSD, cEUR, cREAL and eXOF), and other tokens, it combines traditional bank card design with tangible accessibility. The Ammer Card is PIN-protected, certified, and compliant with industry standards, and durable enough to withstand years of use and thousands of transactions. With the Mento stablecoins and the speed of the Celo network, users can pay almost instantly by tapping the Ammer Card. The low gas fees and the ability to pay for gas in stablecoins make Mento stablecoins the perfect asset on Ammer Cards.

Making a Positive Difference in a Rural Community with Mento Stablecoins

Ammer Group recently ran a successful three month pilot with impactMarket, the Celo Foundation, and the Peruvian NGO Agape Hands to provide Unconditional Basic Income (UBI) and microcredits to empower a rural community in Peru. The objective was to expand opportunities for unbanked and underbanked users to access, manage, and use cUSD stablecoins to promote economic development. Participants in the pilot used Ammer Cards to make purchases directly in cUSD from local merchants equipped with Ammer Pay PoS who in turn, utilized their funds to make substantial contributions to the local economy.

Ammer Group and Mento Labs Partnership

At the heart of Ammer's offerings is the Ammer Web3 Ecosystem, a universally accessible payment network even for users unfamiliar with blockchain technology. The integration of Mento stablecoins into this ecosystem facilitates seamless peer-to-peer transactions in stablecoins, enhancing the overall efficiency of the payment network.

Victor Ammer, CEO and Founder at Ammer Group comments: “At the core of our vision is the commitment to providing humanity with the freedom to exchange value through a decentralized payment network. This visionary goal comes to life through our strategic partnership with Mento Labs. Together, we are ensuring a seamless currency exchange through Mento stables and Ammer Cards.”

Markus Franke, CEO of Mento Labs added: “Our collaboration with Ammer Group has been instrumental in advancing practical solutions for users seeking accessible and user-friendly options in the decentralized finance space. We appreciate Ammer Group's efforts to expand their ecosystem, enabling more merchants to accept payments through their platform. Mento stablecoins and the Ammer Web3 Ecosystem are a perfect fit: you can pay per touch, gas fees are super low, settlement is almost immediate, and since you can pay for gas fees in stablecoins you only need one asset on your Ammer Card.”

Next Steps for Ammer Group and Mento Labs

Looking ahead, Ammer Group has set its sights on unexplored markets, with a particular focus on bridging gaps for the unbanked. Their goal is to promote the wider adoption of digital wallets, fostering inclusivity and ease of financial transactions for everyone.

In addition to broadening merchant acceptance, Ammer Group is actively working on offering on/off-ramp solutions through strategic partnerships on the ground. This approach aims to create a seamless bridge between traditional financial systems and the decentralized world, providing users with accessible and user-friendly options.

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