Benzinga | Aug 11, 2021 09:45AM EDT

Borqs Collaborates With Blockchain Firm Zippie For IoT Autonomous Payment Solutions

* Borqs Technologies Inc (NASDAQ:BRQS) agreed to develop solutions for IoT autonomous payments with blockchain company Zippie to service the rising demand for digital currency transactions.

* Zippie enables businesses to send and receive programmable payments with money and other digital assets, like airtime, loyalty points, tokens, and gift cards.

* By the end of 2021, the Zippie payment system will likely be connected to 1.3 billion mobile wallets and 3 billion bank accounts globally.

* Price Action: BRQS shares traded higher by 7.88% at $0.85 in the market session on the last check Wednesday.