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The adoption of crypto as a payment method for everyday goods and services has risen in recent months. Digital parking startup, Seety, has made it possible to pay for parking tickets with Bitcoin in some Belgian cities. According to a report by DataNews on Thursday, the Belgian startup released this crypto payment feature in Antwerp and Brussels.
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In addition to Bitcoin, users can also use other digital currencies to make payments. The options include cryptocurrencies such as Ethereum, Bitcoin Cash, Litecoin, Dogecoin, and stablecoins like DAI and USD coin.
The company expects cryptocurrencies to become more environmentally friendly in due course, meaning they will increasingly be used to pay for everyday goods and services.
How Seety Works
To use crypto coins to pay for a parking space via Seety, users can purchase Seety credits on the app. The transaction costs are the same as for the payment by credit card.
Seety features an interactive map on its app that helps users locate the cheapest or free parking spots. Additionally, they can determine the prices and parking regulations for any street or parking lot in town. A community feature notifies a member in case a parking officer is spotted near their car. With Seety, users can find the cheapest parking zones, avoid parking fines and pay for their parking in two clicks.
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The company also recently introduced its app in more than a hundred Dutch cities and municipalities. The app, available for iOS and Android, now has 355,000 active members and expects a turnover of 400,000 euros in 2021. For 2022, the startup aims for a turnover of 2 million euros.
The startup is one of the firms bootstrapped by the Belgian accelerator program Start it @KBC.
Using Crypto For Everyday Transactions
Using crypto to pay for parking services dates back to years ago. In 2014, a Reddit user posted that he had paid a parking ticket with Bitcoin using the online marketplace Brawker.
Related Reading | Visa Customers Have Spent Over $1B On Crypto-Linked Cards This Year
Recently, Visa stated that its crypto-enabled cards processed over $1 billion in crypto spending in the first half of 2021.
Featured image from AppWikia.com, Chart from TradingView.com