Ziglu Launches P2P Payments for Fiat and Crypto

Ziglu, the UK-based challenger bank, has officially launched its peer-to-peer (P2P) payments service, enabling customers to send and receive fiat and cryptocurrency with ease. As of September 7, users can leverage Ziglu’s intuitive mobile app to make lightning-fast money transfers without the hassle of traditional banking methods.

This launch follows Ziglu’s acquisition of an e-license, positioning it as a leader in simplifying digital and fiat payments.

Key Features of Ziglu’s P2P Payments Service

Ziglu’s P2P service aims to redefine how users exchange money, focusing on simplicity, speed, and security.

1. Easy Fiat Transfers

• Transaction Limit: Users can exchange fiat currencies (e.g., GBP) up to £10,000 per transaction per day.
• Use Cases: Splitting bills, sharing rent payments, or sending funds to friends and family with ease.

2. Cryptocurrency Support

• Alongside fiat, Ziglu supports cryptocurrency payments, creating a seamless bridge between traditional and digital currencies.
• Future Plans: The platform plans to add more digital assets later this year, broadening its crypto capabilities.

3. Intuitive App Design

• The app eliminates the need for account numbers and sort codes, enabling payments via contacts stored on users’ mobile devices.
• Users simply select a contact, making transactions quick and error-free.

4. No Hidden Fees

• Transfers are free of charge, ensuring accessibility for users of all financial backgrounds.

How Ziglu Ensures Data Privacy

Ziglu emphasizes data security and privacy, particularly for its contact-based payment feature:

• Hashing Technology:

  • The app uses cryptographic “hashing” to protect user contact information.
  • Phone numbers are converted into secure hashes, which are cross-referenced with Ziglu’s database without sharing personal data.

• Opt-In Discoverability:

  • Users can choose whether they want to be discoverable for payments via contacts.
  • This feature can be turned off at any time in the app’s settings.

Ziglu’s Vision: Bridging Fiat and Crypto

Ziglu aims to create an ecosystem where traditional and digital currencies coexist as equals.

• Support for Additional Currencies: Ziglu plans to expand its offerings by adding more fiat and crypto options in the near future.
• Seamless Exchange: Users will be able to move and exchange digital assets freely within the app.

How Ziglu’s P2P Payments Simplify Transactions

Traditional payment methods often involve cumbersome steps like copying and pasting account details, which can lead to errors. Ziglu eliminates these challenges:

1. Contact-Based Payments: Users can send money directly to friends or family members saved in their phone contacts.
2. Secure Transactions: Cutting-edge encryption ensures that data and funds remain safe.
3. Fast Processing: Payments are executed in real-time, offering unparalleled speed.

Benefits for Users

1. Convenience

• The app simplifies everyday tasks like splitting bills or paying rent.
• Users avoid dealing with complicated banking details or third-party apps.

2. Cost-Effectiveness

• Free transfers make the service accessible for all users.

3. Accessibility

• By supporting both fiat and crypto, Ziglu caters to a diverse audience, including digital asset enthusiasts and traditional banking users.

Future Plans for Ziglu

Ziglu’s roadmap includes expanding its currency offerings and adding new features to enhance user experience:

• More Digital Assets: Additional cryptocurrencies will be integrated, offering greater flexibility.
• International Payments: The platform is exploring global capabilities to support cross-border transactions seamlessly.
• Enhanced Crypto Services: Future updates will enable a broader range of crypto-to-fiat and crypto-to-crypto exchanges.

FAQs About Ziglu’s P2P Payments

1. What is Ziglu’s P2P payments service?
It’s a platform that allows users to send and receive fiat (e.g., GBP) and cryptocurrencies through a secure, intuitive app.

2. Is there a transaction limit for fiat payments?
Yes, users can transfer up to £10,000 per transaction per day.

3. How does Ziglu ensure privacy for contact-based payments?
Ziglu uses cryptographic hashing to protect contact information and allows users to toggle discoverability.

4. What fees are associated with P2P payments?
All transfers are free, making it cost-effective for users.

5. Can I use Ziglu for cryptocurrency payments?
Yes, Ziglu supports crypto payments and plans to add more digital assets soon.

Conclusion

Ziglu’s P2P payments service represents a significant step forward in making digital and fiat transactions more accessible, secure, and user-friendly. By focusing on simplicity and leveraging innovative technology, Ziglu is bridging the gap between traditional banking and cryptocurrency adoption.

As the platform expands its offerings and integrates more currencies, it is set to become a go-to solution for seamless money transfers in the UK and beyond.

To learn more about the latest innovations in fintech and cryptocurrency, stay tuned to our updates.