A mobile app that pays crypto at any Visa terminal

In 2021, paying with crypto required an exchange, a bank transfer, and a card. Oobit wanted a single tap. Five years later, its app is built into the phone's native language to let you pay right at the checkout counter (the till): you just hold your phone next to the card reader (the tap), and the crypto rate is locked at that exact second.

2021

crypto-to-fiat payment engine

payments per active user/month

~12

70%+

payments completion rate

13x

monthly payments volume

USDT of total volume

50%+

Overview on the project

Duration:

2 years (CI/CD)

Company size:

51–100

Industry:

Financial Services (FinTech)

Country:

Israel

Challenge

Direct crypto payments were impractical when Oobit started in 2021. Prices moved three or four times a minute, every market needed its own crypto licence, and no native app offered a simple tap at a Visa or Mastercard terminal. Converting meant an exchange, a bank transfer and a card, slow and costly at each step. The payments infrastructure itself was still in testing worldwide, and the backend would stay with the client, in PHP.

Solution

Oobit's customers tap their phone at any Visa terminal and pay from their crypto balance. We built a native iOS and Android app, written in each phone's own language, so the tap runs straight through the phone's contactless chip. A virtual Visa card is issued in seconds. The converter fixes the price at payment, and the shop is paid in its own currency. Mid-build, in February 2024, Tether and CMCC Global led Oobit's $25M Series A. For Oobit, that meant a working payments product, plus the native code and a clear path into its own React Native app.

Amram Adar

CEO, Oobit

They were there for us every step of the way. I don't think we would get the same from any other provider or partner. They listen, understand and want us to have the best result and never cut any corners.

Amram Adar

CEO, Oobit

Technology stack

Kotlin

Google Pay

Modules & Integration

Tap to pay with a Visa card at any terminal

150M+ Visa merchants

The card works wherever Visa contactless is accepted, so Oobit reaches merchants without signing a single one.

Ready in under 20 seconds

A newly verified customer accepts the card terms and gets a virtual Visa Platinum (a card number with no plastic) in the phone's wallet within 20 seconds.

Pre-routed payments

The asset conversion happens automatically in the background as the customer taps. For the shop and the customer, it's just like a normal debit card transaction.