The usage of digital currency like BitCoin is increasing with every passing day. It has evolved as a mainstream currency in some countries already, and people have started using it in their financial transactions. Now the retailers have also started accepting the BitCoins. Yes, the famous retailers like Whole foods, Nordstrom, and Crate and Barrel are all set for BitCoin payments.
Flexa Network made an announcement regarding the launch of an app and a digital network that will allow immediate cryptocurrency payments at particular retailers. With the help of this app, those merchants can now accept the payment in the form of Ether, Gemini Dollar, and Ether. The app is named, and as of now, it is available for only a particular set of users. The company has assured that from next week, they will make this app available for a wider set of users.
Flexa’s CEO and Co-founder Tyler Spalding have released a press release in which he has stated that “This is the first real instance of decentralized global retail payments, with the power to make commerce more efficient and accessible for billions of citizens globally. The legacy payment systems are complicated and costly. This solution provides a way for cryptocurrencies to solve these problems, and allow merchants to conduct inexpensive and fraud-resistant transactions.”
The digital scanners are used in almost all the retail shops to accept phone payments and digital wallets like Apple Pay payments. The same scanners will be used to make the cryptocurrency payments. The prominent retailers like Regal Cinemas, Baskin Robbins and Gamestop, are yet to configure their systems to accept digital currencies.
Gemini will handle all the back end work of this project while Flexa takes care of the networking. The retailers aren’t commenting anything about this project as it is still in the experimental phase.