TORONTO, April 12, 2018 (GLOBE NEWSWIRE) -- Peeks Social Ltd. (TSXV:PEEK) (OTCQB:PKSLF) ("Peeks Social" or "the Company") is pleased to announce that the Peeks Social wallet is now accepting Bitcoin transactions. The ability to instantly interact and transact using Bitcoins represents an important shift by the Company towards the future of online currency transactions.
Users of Peeks Social are now able to fund their wallets with Bitcoin for use within the Peeks Social platform, allowing them to use their Bitcoin to purchase paid content, tip broadcasters, and contribute to crowdfunding campaigns, amongst other uses. Broadcasters are able to receive rewards they earn in a number of ways including directly to their prepaid Peeks Social Prepaid Cards. Users loading Bitcoins into their wallets are able to subsequently transfer the unused cash balance of their Peeks Social tokens to their prepaid Peeks Social Prepaid Cards instantly to spend at online and bricks and mortar retailers around the world.
Since cryptocurrency purchases are not subject to payment processing fees, the addition of cryptocurrency transactions are expected to reduce the aggregate payment processing fees currently associated with processing payments within the Peeks Social platform. The majority of deposits received by the Peeks Social platform are processed through in-app payments, which are subject to a 30% payment processing fees from their respective app stores.
Peeks Social will be evaluating the addition of other cryptocurrencies for use with the Peeks Social wallet.
The Peeks Social app can be downloaded in either the Apple or Google app stores, or by visiting www.peeks.social.
For further information, please contact:
Peeks Social Ltd.
Chairman & Chief Executive Officer
Director Investor Relations
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this Release.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Peeks Social Ltd. via Globenewswire