We are ready to talk about and introduce to you the all new native mobile app named "Nimiq Pay". It is entering late stage development and we want to provide insights into our vision and its features.
Nimiq's grand vision is to provide an easy-to-use means of payment that retains the self-custodial nature, censorship-resistance, and decentralized aspects inherent to properly conceived cryptocurrencies. As smartphones dominate our daily lives, especially in financial transactions, it's only natural for Nimiq to expand in this direction.
The Nimiq Wallet (web) app is designed as the most censorship-resistant and globally accessible way to manage your NIM, BTC and USDC in a self-custodial manner. The native mobile case is already different, simply through the fact that it requires passing through app store requirements and having app store access as a user. So we took the opportunity to focus the Nimiq Pay app specifically on the mobile payment use case: INSTANT payment at a physical point-of-sale while maintaining self-custody. This app is designed to harness the full potential of native mobile capabilities such as NFC, fingerprint, face recognition, and beyond. Our primary goal is to introduce an app that becomes an essential instrument for daily transactions.
Our brainstorming sessions for Nimiq Pay have indeed been a melting pot of innovative ideas and possibilities:
Point-of-Sale payments are all about speed and convenience. Recognizing the importance of multiple payment avenues, we're exploring integrations of various methods into Nimiq Pay. Through innovative technologies like OASIS/SuperSimpleSwap, we're set on giving users the freedom to use their NIM even in places that traditionally accept other payment methods, broadening the scope of NIM's application.
We cannot disclose the specifics of these payment methods at the moment. However, we are committed to sharing updates as soon as possible.
Locating places that accept NIM should be as easy as finding a coffee shop nearby. We're in the process of fine-tuning the Nimiq Crypto Map for mobile users, ensuring that they can swiftly identify establishments and services that welcome NIM. It’s not just a tool for our users, it's an opportunity for businesses to tap into the thriving world of cryptocurrency.
You can track our progress with this initiative at map.nimiq.com. Keep an eye out for more updates, and if you're aware of any stores that should be on our map, please don't hesitate to reach out to us!
The user choice of one form of payment over another is often tied to incentives provided to the user. As a first in crypto, Nimiq Pay will introduce a way for Sponsors to unlock a rewards program for users. We’re building and integrating the infrastructure that supports a form of “loyalty” program, which will allow Sponsors to target specific areas (cities, etc) or merchants (brands, etc) with adoption campaigns. Users that opt-in may receive cashbacks from transactions and bonus points by spending their NIM at sponsored locations and engaging with the app, learning more about the Nimiq ecosystem, or participating in tasks.
While a first campaign sponsor is already secured, this feature is an open initiative: it will be open to businesses and community members who might want to sponsor a campaign in their city, ensuring a collaborative growth of the Nimiq ecosystem. We are still in the optimization phase of the program, and encourage Nimiq Community Ambassadors from across the globe to reach out and inquire about adoption campaigns and how sponsoring will work!
Nimiq Pay has already entered it's late development stage, with our team putting in their best efforts to realize the vision we've set. We'll keep you updated as significant milestones are reached. We appreciate the continued trust and support of our community and are eager to present a first version of Nimiq Pay that you can test out. Stay tuned, and here's to the exciting journey ahead!
None of the statements must be viewed as an endorsement or recommendation for Nimiq, any cryptocurrency, or investment product. Neither the information, nor any opinion contained herein constitutes a solicitation or offer by the creators or participants to buy or sell any securities or other financial instruments or provide any investment advice or service. All statements contained in statements made in Nimiq’s web pages, blogs, social media, press releases, or in any place accessible by the public, and oral statements that may be made by Nimiq or project associates that are not statements of historical fact, constitute “forward-looking statements”. These forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause the actual future results, performance, or achievements to be materially different from any future results, performance, or achievements expected, expressed, or implied by such forward-looking statements.