Cryptocurrency payment platforms are slowly making their way into major e-commerce platforms and retail stores, but according to Stijn Paumen, CEO of Helio, they still have a long way to go to match the user experience and performance of Apple Pay.
In a recent interview with Cointelegraph, Paumen discussed the challenges facing the crypto payment sector, noting that while Bitcoin and Ethereum are leading the way in decentralized blockchain protocols, they still lag behind traditional financial infrastructure in terms of speed and functionality.
Paumen pointed to Apple Pay as the benchmark for payment platforms, highlighting the ease and speed of transactions with just a tap of a phone. He emphasized the need for newer blockchain networks like Solana to address congestion issues and improve performance.
Helio, founded by Paumen and CTO Jim Walker in March 2022, aims to bridge the gap between traditional payment methods and crypto payments. The platform supports various cryptocurrencies, including Bitcoin, Solana, and Ethereum-based tokens, and has facilitated millions of dollars in monthly payments.
Despite the progress made by Helio, Paumen acknowledges that the user experience for crypto payments still needs improvement to attract a wider demographic of users. He envisions a future where mainstream industry players like Apple Pay may adopt blockchain technology for faster and more secure transactions.
While onboarding major e-commerce platforms is a step towards mass adoption, Paumen sees potential in streaming platforms like Vimeo and OnlyFans for the utility of crypto payments. As the crypto payment sector continues to evolve, Paumen remains optimistic about the future of decentralized finance and the role of blockchain technology in revolutionizing the way we send and receive money.