Category: Ethereum News

Monarch Wallet Becomes First Live Decentralized Mobile Recurring Payments App

High fees and chargebacks are a thing of the past! Monarch Wallet now allows businesses, creators and others to easily accept cryptocurrencies on custom or recurring bases while reducing fees to as low as 0.5% per transaction and eliminates chargebacks.

November 7th, 2019 Reno, NV — Monarch (https://monarchwallet.com/), the decentralized wallet and suite of crypto services, today announced the launch of their mobile decentralized recurring crypto payments being live inside of the Monarch Wallet on Android and will soon be live on iOS. This new wallet integration allows businesses, creators, charities and other entities to accept custom or recurring crypto payments, crowdfund to easily collect donations and other types of payments, with fees well below the standard rate for current payment platforms. 

At launch, the new MonarchPay integration offers the easiest way to accept custom or recurring cryptocurrency payments, solicit creative and cause-based crowdfunding, all without the “premium” fees that can reach upwards of 12-50% on services like Patreon and Twitch. Monarch has set a new standard in the payments industry, with a 1% fee across all possible crypto payment options and soon just a 0.5% fee when using their Monarch Utility Token. Patreon currently charges between 5 and 12 percent of income earned per month on its platform, while Twitch fees go up to 50 percent. 

Monarch offers benefits to any entities that wish to use crypto for recurring payments, whether those entities are businesses, creators, charities or others, without the need for much technical expertise. Among the prime benefits for Monarch users, other than those low processing fees is the “no chargebacks” freedom inherent to crypto technology and increased transparency.  All of this can also be easily managed from just one place, the Monarch Wallet—whether it’s a business managing all of their plans and users subscribed to each plan, to the individual who manages their subscriptions.

“With our new app integration, we are applying the power of the blockchain to stem one of the payments industry’s most onerous problems: processing fees,” said Robert Beadles, President of Monarch. “Beyond that very real and tangible double-digit percentage revenue users won’t have to pay back to a payment processor, Monarch offers greater transparency than currently available in the payments industry.”

Since first launching in 2018, Monarch has become a one-stop-shop for more than 315,000 users, bringing together the best blockchain services into one application for consumers, merchants, and partners. Monarch eliminates the need for multiple applications and improves security with a single wallet, delivering every service needed to buy, sell, trade, and manage digital assets.

Monarch is advised by Roger Ver, Bitcoin Foundation Founder and Bitcoin.com CEO; Eric Ly, Co-Founder of LinkedIn; David Zimbeck, lead developer at BitBay and creator of the first smart contracts; Damon Nam, Founder of CoinVest, and many of the most influential names in the blockchain industry. Monarch has acquired a broker-dealer license and is awaiting SEC and FINRA approval.

ABOUT MONARCH

Monarch offers mobile and desktop apps, a decentralized wallet and exchange, a portfolio tracker, and universal KYC integration. Monarch supports more than 3,000 cryptocurrencies. It allows qualified users to buy cryptocurrency with a bank or credit card, earn up to 8.1% APR interest on select cryptocurrency holdings, and switch between hot and cold wallets, all while maintaining their own private keys and seed.