Monarch Wallet Becomes First Live Decentralized Mobile Recurring Payments App
CommPRO Editorial Staff
The decentralized wallet Monarch just announced the launch of their mobile decentralized recurring crypto payments, now live on Android and soon to launch on iOS. This new wallet integration allows businesses, creators, charities and other entities to accept custom or recurring crypto payments or crowdfund to easily collect donations and other types of payments, with fees well below the standard rate for current payment platforms.
The new MonarchPay integration offers the easiest way to accept custom or recurring cryptocurrency payments and solicit creative or 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. Aside from low processing fees, Monarch offers transparency in the payment process and no chargebacks. All of this can be easily managed from the Monarch Wallet, either by a business managing all of their plans and subscribers, or by individuals who manage 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.