Cryptocurrency has now gone advanced over the years since its first appearance in the market. Though crypto rates are still unpredictable as of today due to the rapid changes, a lot of tech and blockchain companies continue to extend crypto on their businesses to showcase what these virtual currencies can do for an ordinary citizen.
Surprisingly, BitPay, a popular blockchain payment services company and also one of the first blockchain companies to entertain cryptos, has announced recently that BitPay is now planning to take their crypto business into a higher level, using point-of-sale (POS) devices.
How does point-of-sale help the crypto industry?
It is not commonly known for people that point-of-sale or POS is a significant thing when a person shops or buys products in a store.
As reported, “a point-of-sale (POS) terminal is a computerized replacement for a cash register and can include the ability to record and track customer orders, process credit and debit cards, connect to other systems in a network, and manage inventory and more.”
As crypto emerges in the market, several point-of-sale registers also spread out all over the world, offering a speedier, safer, and more transparent way of receiving and sending payments.
With the trend of the said services continued to rise in the market, BitPay now joins the team of various companies offering POS through the help of their commence platform called Poynt.
BitPay and Poynt partnership for POS services
“It’s a massive growth opportunity for BitPay,” said BitPay CEO and co-founder Stephen Pair, “and an important milestone in our now nine-year mission to make payments faster, more secure and less expensive for people and businesses.”
BitPay was launched back in 2011, wherein a lot of achievements in the crypto sector happened. Today, another milestone was marked by the company as they now allow the integration of BitPay’s Bitcoin and cryptocurrency payments with Poynt’s Smart Terminal point-of-sale devices for claimed more than 100,000 Poynt retailers worldwide.
“With just the scan of a QR code at checkout, consumers can now pay merchants using Poynt’s devices with the currency of their choice, including Bitcoin, Bitcoin Cash, Ethereum, and three dollar-pegged stablecoins. BitPay’s blockchain payment rails integrate seamlessly with Poynt’s smart terminals to make the checkout experience quicker, easier and more secure than paying with legacy methods like credit cards or cash,” said in the press release.
Last month, BitPay also supported XRP cryptocurrency to appear on their crypto wallet– increasing the population of crypto users that can now enable more convenient access to payment transfers. As BitPay joins the team, are we going to see other blockchain companies to do the same thing?