PayBear, a Zug-based cryptocurrency payment processor

claiming over 3,000 merchant customers, has rebranded to Savvy and announced

the release of two products: an update to its core merchant API offering, Savvy

Merchants, and a new multi-currency crypto wallet, called Savvy Wallet, the

company said on Monday.

The rebrand comes at the time when the company, which says

it has already processed over US$10 million worth of transactions, is expanding

its offering outside of e-commerce and the merchant market, and into the

consumer market.

Savvy said it will continue to develop and improve its core

merchant offerings but also make further investments into “other areas

representative of how cryptocurrencies are and can be used today.”

“We want to make things simple. Deliver on the promise of

cryptocurrencies as a superior medium of exchange,” said Dr. Rolf Hoefer,

founder of Savvy.

“Our expansion into the consumer market, together with our

commitment to educate users, drove a lot of the thinking behind the rebrand.”

Both the updated Savvy Merchant and the Savvy Wallet are now

live.

Hoefer said Savvy Merchant “aims to be the cheapest, easiest

and most trustless payment processing solution for merchants to accept and

manage cryptocurrencies today.”

“Yet, we believe cryptocurrencies should be more than just a

medium of exchange, and we plan to help educate our users to navigate this

fascinating landscape,” he continued.

Savvy Wallet is a multi-currency crypto wallet supporting

more than 50 currencies. The company says the platform will form the foundation

on which Savvy will continue to expand its services.

Savvy Wallet has been designed from the ground up to be easy

to use and built with merchants in mind. It supports sending, receiving and

exchanging of currencies. The wallet uses industry standard encryption

protocols, and includes a consolidation feature to help unite clients’

scattered ERC-20 token balances.

“Savvy Wallet strips away the complications and brings order

and clarity for users,” Hoefer said.

“Savvy Wallet plans to become a one-stop-shop for people

entering, navigating, and exiting crypto, educating users while helping them

earn, borrow, and manage their digital wallet with the peace of mind that they

are taken care of in savvy ways.”

Savvy Merchant supports Bitcoin, Bitcoin Cash, Bitcoin Gold,

Ethereum, Ethereum Classic, Litecoin, Dash, and most recently stablecoin Dai

and Binance Coin. The addition of Dai comes as part of a move into stablecoins

in 2019.

Savvy Merchant is delivered to customers via shopping cart integration including Magento, Opencart, PrestaShop, and WooCommerce, targeted at non-technical merchants who want to accept cryptocurrencies as a form of payment, and developer API. The solution is available to customers at no charge and zero fees with the option of settling in non-volatile assets like stablecoins as well.

“Savvy is looking to increase the breadth of

cryptocurrencies and fiat accepted on the platform while enabling passive yield

and maintaining the industry’s lowest payment processing fees for merchants at

0%,” Hoefer concluded.