New Pundi X Technology will make Crypto Easier to Spend
Pundi X, a point of sale network has finished its trial of hardware devices for consumers and shoppers in Hong Kong. This network allows users to pay in Bitcoin and other cryptocurrencies at any physical store including restaurants, cafes, and shops.
Originally based in Indonesia, Pundi X is planning to start 5500 POS units in Hong Kong. This is despite the fact that regulators don’t qualify bitcoin as a method of payment.
However, Pundi is not challenged by this resistance from the regulators and wants to provide a method that makes buying and selling using cryptocurrency as easy as buying a bottle of water. It wants to be the next 7 eleven or Walmart of cryptocurrency by allowing cryptocurrency to enter the everyday shopping domain.
Zac Cheah, the co-founder of Pundi believes that Hong Kong is the perfect place for this expansion. He says,
Hong Kong is the perfect place for us to do a test drive before a large scale roll-out as there are many tourists, expats, and early tech adopters.
These devices are set to install next month. While currently there are 3476 bitcoin ATMs around the world, this Pundi XPOS network will add 5,500 devices in Hong Kong alone to expand and provide people with a platform to buy food, coffee, and clothes with crypto. Pundi XPOS is also connected with Apple Wallet, WeChat Pay, Ali Pay, Visa, MasterCard, and others.
For sellers wanting to enter the cryptocurrency domain, the Pundi platform allows them to use several payment channels through just a single device. Stores can then attract crypto enthusiasts who will be willing to make payments in Bitcoin, Ethereum, Nem, Qtum or Achain.
The company released a video showing the CEO buying a coffee using his Pundi X Card. It looks similar to using your debit card and just tapping it for payment.
By the first quarter of 2019, Pundi X plans to install at least 50,000 XPOS units across different countries.
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