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Venezuelans to be Able to Pay for Taxi Services with Crypto

  • As of April 12th, crypto payment options have been available in Venezuela for ‘Yummy’ delivery application and taxi services.
  • Users of the service, which is available in all major cities in the center of the country, are pleased with the new payment options.

The delivery and taxi services application ‘Yummy’, which operates in Venezuela, is accepting cryptocurrency payments through the Binance Pay platform. The news was revealed on the Legal Rocks’ Twitter account, indicating that Binance had joined the Yummy Rides taxi service.

The CEO of Yummy, Vicente Zavarce, confirmed the story and offered more details about the new service.

“Now you can move around with Crypto on Yummy thanks to our new integration with Binance Pay. Ridesharing with stablecoins? Only at Yummy,” Zavarce wrote.

The executive clarified that, for now, the company only accepts payments with stablecoins such as tether (USDT), one of the most used and commercialized digital currencies in Venezuela.

Before the integration, the Yummy taxi services could only be paid for through traditional banking and financial platforms such as Mobile Payment, Yappe, Zelle, credit cards and PayPal.

Responding to User Requests

The option to pay for taxi fares using cryptocurrencies through Binance was brought to fruition due to the growing use of cryptocurrencies in Venezuela and the regular requests made by Yummy’s users.

To enjoy the benefits of the new payment method, users have only to update the Yummy app, with which the Binance Pay service has already been integrated.

The Binance Pay platform, created by the crypto exchange, allows users to send and receive cryptocurrencies, including stablecoins, without paying commission. Yummy payments can be made by simply scanning the recipient’s QR code in the app.

Users of the taxi service are reportedly pleased with the integration and hope that crypto payments will be extended to other services such as deliveries, according to local crypto news site cryptonoticias.com.

The CEO of Yummy specified that cryptocurrency payments are only available for transport services, so it is not yet clear if crypto payment options will be extended to other services later.

Why You Should Care

  • Yummy Rides, which has been operating in Venezuela since July 2021, offers Venezuelans a service similar to that of Uber.
  • The taxi service is available in cities such as Caracas, Valencia, Maracay and Barquisimeto, but also includes extra-urban transportation to any part of the country.
  • The transportation services app is also operational in other Latin American countries such as Chile, Peru, Bolivia, Ecuador, and Panama.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

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