Those who have been wishing to process crypto-payments in stores might finally have their dream come true.
This is possible because of a collaboration between FOIN and Cyclebit. These
two companies are responsible for developing solutions involving virtual money.
According to a press release, FOIN a decentralised peer to peer virtual money for the finance
sector and 20 other major cryptocurrencies are accepted at more than 200,000
points of sale in Europe, Asia, and Canada. Holders will be now able to utilise
their digital assets to complete payments in stores, cafés, restaurants and
even in service companies such as barber shops. This innovative facility can be
enjoyed by both e-commerce businesses and offline retailers. The advantages
offered by this system are the same as those of blockchain transactions,
that is, this infrastructure is fast, simple, secure and private. There are no intermediaries
and data is not sent to third parties.
How would the process work? This procedure is quite similar
to completing an operation with a traditional bank card. After choosing your
product, its price will be converted into FOIN or another cryptocurrency
based on the exchange rate. You will then have to pay with your virtual money
wallet. The checkout terminal will print a paper receipt. After that, you will
receive your goods and the merchant his money.
It
is now easier to pay with crypto at stores
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