Another big step for mass adoption of cryptocurrencies has been announced. Now more than 30,000 other retailers and 15 founding companies can be paid with Bitcoin, Ethereum and Bitcoin-Cash. A new point-of-sale solution makes this possible.
“Instead of tracking cryptocurrency payments on debit cards, we followed the reverse approach. Last year, we built new connections to tens of thousands of dealer funds across the country. Thanks to these new connections we can bypass the existing payment infrastructure. This allows crypto-currency-based payment authorizations to be forwarded directly to merchants in your name, “said Flexa.
Flexa describes itself as “a new payment network that builds on cryptocurrency and brings buyers and sellers closer together. This reduces processing costs, fraud and protects your privacy. “
The app includes an interface to the well-known crypto market Gemnini
The company operates the so-called Spedn app. This apparently does not allow much more than the deposit at the Gemini crypto exchange.
As you can see above, this is essentially Apple Pay, but with crypto. The same infrastructure is used here, and Gemini manages the conversion to Fiat money.
The merchant using this infrastructure probably does not even know if you're paying with Bitcoin, ETH or BCH.
“Large retailers pay billions of dollars in processing costs each year. These are costs that are often at least partially borne by the consumer. With Flexa, traders receive (i) significantly cheaper and fraud-resistant transactions. In addition, (ii) they can use the same payment hardware they currently have. And finally, (iii) they receive payments in fiat money, not in crypto, “says Gemini's Tyler Winklevoss.
The app itself seems to have AML / KYC requirements.
There are other solutions that provide only the tools for accepting crypto payments, especially for online commerce.
In addition, there are payment providers such as BitPay or Coinbase Commerce. With these you can choose how much you want to receive in crypto and how much in fiat money.
Well-known online retailer Overstock.com has converted 25% of its payments into Bitcoin since 2015. At that time, the price was $ 300 per Bitcoin. This must be considered one of the best investments ever.
All of these solutions are now beginning to make crypto payments more general and popular. They are also very useful as a backup option for traders if a card should not work for some reason. Whether the service is also possible for payments in Germany remains to be seen.
– Display –
Bitcoin, Ripple XRP and other crypto currencies have posted strong price gains in recent years. If you also want to know how to invest in cryptocurrencies, read our instructions here .
Author: Peter Joost – Source Post: https://www.kryptovergleich.org/bitcoin-btc-ethereum-and-bitcoin-cash-jetzt-bei-starbucks-amazons-whole-foods-and-30-000-weiteren- einzelhaendlern-accepted /
Disclaimer: CoinNewsDesk.com is a crypto news portal, financial discussion forum, and content curator / aggregator. Articles on Coin News Desk are provided for entertainment and information purposes only. We are not an investment advisor and do not provide financial advice.
We can not review all articles posted on CoinNewsDesk.com. Please independently research and verify any information here before relying on it as fact. It is also important to do proper due diligence and analysis, including consulting a professional financial advisor. No content on Coin News Desk makes any recommendation to enter into any type of investment or engage in any investment strategy on this website.