SatoshiPay and Axel Springer cooperate on blockchain technology usage

Commencing on 31 January 2019, SatoshiPay and Axel Springer SE will begin working on a joint offering, enabling users to pay for content with the digital SatoshiPay wallet. Powered by blockchain technology, the wallet will be used to send direct payments from the user’s device to the publisher without an intermediary.

As part of the project, SatoshiPay’s payment solution is to be integrated into Axel Springer products in order to gain experience in user acceptance and generate initial revenues.

Dr Valentin Schöndienst, Senior Vice President New Business, Axel Springer SE states:

“Blockchain payments can significantly reduce transaction costs and thus enable new monetisation systems for content. SatoshiPay offers a turnkey solution that allows us to instantly use blockchain technology and offer it to our customers”.

Meinhard Benn, Founder and CEO of SatoshiPay says:

“We are excited to work with Axel Springer, who recognise the immense potential of blockchain technology. As one of the few companies with a market-ready blockchain
payment solution, we are focused on bringing this technology from laboratories and into the mainstream. This has been SatoshiPay’s mission since its foundation in 2014, and a partner with the tremendous reach of Axel Springer gives us the opportunity to deliver on this promise.

We would also like to thank the Stellar Development Foundation, which supports this cooperation with a seven figure partnership grant.”

SatoshiPay uses the Stellar blockchain for secure worldwide payment processing in a matter of seconds. This is possible for any form of value, including Euro and Dollar transfers.

SatoshiPay, which had completed the Axel Springer Plug and Play startup program in 2015, offers tailor-made solutions for blockchain-based payment and customer loyalty systems to companies, especially in the areas of online publishing, gaming, IoT, and telecommunications – for integration into their own products, websites, or apps. Going forward, SatoshiPay will transfer the advantages of the different blockchain ledgers into the simplicity and stability of a standardised programming interface (API).