El Salvador’s latest move towards Bitcoin [BTC] has been lauded by many. Prominent digital payments gateway, Flexa is showing support by partnering up with Bancoagrícola, the largest bank in El Salvador.
While several dissed El Salvador for adopting Bitcoin as a legal tender, a few others went on to praise the government for being accepting towards a nascent market. Giving Bitcoin a legal stature came as a much-needed boost for the currency in terms of adoption. Just a couple of days ago, the government went on to purchase its first 200 BTC. With all this Bitcoin, banks in the country were still figuring a way to facilitate payments.
Flexa revealed that it had partnered with Bancoagrícola in order to facilitate Bitcoin payments in the region.
Flexa to aid El Salvador’s Bitcoin transition
In the announcement, Flexa noted that customers of the bank would be able to make credit card payments through the payment gateway. Both, retail as well as merchant clients of the bank will be able to use this option. Additionally, no extra fees would be imposed on these payments.
The COO of Bancoagrícola, Carlos Mauricio Novoa claimed that they were the first financial institution in El Salvador to enable Bitcoin access to their customers. Further speaking about its association with Flexa and El Salvador’s latest move, the COO added,
“At Bancoagrícola, we seek to innovate to promote sustainable economic development; we work tirelessly to satisfy our customers’ financial needs in the most responsible, respectful, and caring way possible. Flexa has been instrumental in helping us prioritize our customers’ experiences using bitcoin as legal tender in El Salvador; we look forward to continuing to innovate alongside them for a long time to come.”
The latest version of the Bancoagrícola mobile application allows users to make payments in Bitcoin. However, customers would have to get in touch with their respective account managers at the bank in order to enable this option.