Mcdonalds Thai and Omisego (omg) Partner to Introduce Omg Payments

Almost a year ago, OmiseGO started working together with McDonalds Thailand following a partnership announcement from its parent company, Omise. The news of this strategic move raised the hopes of OmiseGO’s community due to the high probability of exposure the altcoin would receive. As it stands, Omise has successfully proven its potential to provide website payment options for fast food chains like McDonalds. OmiseGO’s fundamental value has specifically stood out in the customer experience field as technology takes over payment methods. Mr. Hester Chev who is the current head of McDonalds Thai recently shared an insight to support the importance,

“Online and offline are integrating into one. As retailers, you have to build that ecosystem where both sales channels work together seamlessly. For us, the role of customer experience in payments is all about faster checkouts and speedy processing time. These are the key things that are crucial to customer satisfaction.”

Many are the times crypto enthusiasts overlook the suitability of blockchain to all industries. However, the developments in 2018 within blockchain and sectors like hospitality and health have brought new perspectives to light. OmiseGO’s approach to venture into the fast food chain industry is among the few cases that show blockchain and crypto coins are not just a passing fad. Quick service restaurants like McDonalds are in the adoption phase of technological payment systems making OMG and the likes just ripe for the revolution. Furthermore, Mr. Hester Chev noted an improvement since the company started working with Omise,

“We are glad that we made the move. Things have been smoother for our customers and our team that works behind the scenes. We switched to Omise last year, and shortly after the transition, we saw a dramatic increase in credit card usage. We're talking about the number of transactions that have close to tripled within the first 6 months. In April last year, we were doing around 5000-7000+ card transactions, this year, we're seeing 18,000+ transactions.”

Market Cap & Price Range Analysis

OmiseGO closed yesterday’s candlesticks on a bearish trend after the market had rallied up during the morning hours. The coin is exchanging at $8.0149 right now and has established a new support level at $7.7260.

The highest high formed by the crypto in the past week was recorded in yesterday’s market at $8.28 although the hourly candlesticks are yet to confirm the higher resistance level.

OMG has a significant market cap dominance at over $1billion and 0.3818% of the total cryptocurrency markets. Consistency has maintained the digital asset among top 20 altcoins out of the over 1500 as of press date.

OMG Price Action Indicators

The cryptocurrency markets have been highly bullish in the past 2 days making huge recoveries apart from a few coins like Tether (USDT). OmiseGo was not left out in the bull-run and at the moment the MACD’s show that the crypto coin is on an uptrend with the exception of the 5 minute candlesticks.

Relative Strength index indicate neutrality with the 4 hour candle stick at 65.22 according to Coinanalyze. This is closer to the overbought region clearly showing the volatile momentum was high towards the green zone.

Both the Stochastic K & Commodity Channel Index show neutrality and the market is currently forming a ranging zone although the 4 hour candle stick indicate an ongoing uptrend. However, the question on whether OMG will break its all-time high of $26 remains highly uncertain!