ZipZap Enables 170 Million Unbanked Users In Latin America To Buy Bitcoins With Cash

SAN FRANCISCO, July 8, 2014 /PRNewswire/ -- ZipZap, Inc. (www.zipzapinc.com), the leading global transaction network, today announced its further expansion in Central and South America enabling more than 170 million unbanked consumers to use cash to purchase Bitcoins.

Latin American countries are poised for explosive growth in digital currencies and its unbanked segment has a growing distrust in retail financial institutions due to hyperinflation and high interest rates.

ZipZap has been actively processing payments in Brazil since 2013. ZipZap will now serve consumers in other countries in Latin American including Argentina, Chile, Mexico, Peru, Uruguay, and Colombia.

"Latin America is a strategically important region for ZipZap," said Simon Nahnybida, SVP Business Development for ZipZap. "We are now able to offer millions of consumers in this region the ability to easily, safely and securely buy Bitcoins at affordable prices using cash and other payment options."

ZipZap also concurrently announced opening a regional office in Argentina in order to get closer to consumers. "We hope to introduce Bitcoins to many consumers in this region for the first time," said Joaquin Moreno, ZipZap Regional Manager for LATAM.  "ZipZap simplifies the whole process and helps consumers buy with confidence and conveniently pay using local payment options at the best possible price." 

Consumers can register online at www.zipzapinc.com, select the amount they wish to buy and the payment option (cash, bank to bank transfer, or wire transfer).  Upon receipt of payment, ZipZap will process the order with one of their exchange partners that offer the best price.

"Using ZipZap, consumers will only need to register once and have immediate access to multiple exchanges worldwide who are competing for their business," said Nahnybida. "Whether they wish to buy digital currencies for investment purposes, cross border remittances or as a hedge against inflation, consumers across South and Central America will now have more payment options, flexibility and convenience than ever before."

This announcement continues the rapid expansion of ZipZap's global network, following recent expansion in the UK and underscores ZipZap's position as the largest payment processor for digital currencies worldwide.

About ZipZap:
ZipZap, Inc. is a global payment network, enabling consumers to buy, sell or use digital currencies with cash or other payment options. Founded in 2010, ZipZap is headquartered in San Francisco, California, with operations around the globe. For more information about ZipZap, visit www.zipzapinc.com. 

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Ronjini Joshua
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SOURCE ZipZap