Home Finance Latest Technology Is Making Crypto Easier To Spend – Thousands Of Stores...

Latest Technology Is Making Crypto Easier To Spend – Thousands Of Stores Will Implement It

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Point-of-sale payment network Pundi X managed to complete its successful trial of hardware devices that enable shoppers and consumers in Hong Kong to use crypto.

It seems that the network will allow users to pay with Bitcoin and other cryptos at any physical store: restaurants, cafes, shops and more.

Pundi X  is based in Indonesia, and it is planning to implement 5,500 POS units in Hong Kong, even if regulators stated that Bitcoin doesn’t qualify as a payment option.

But the team at Pundi X plans to create a network that makes buying and spending crypto as comfortable as possible. Their goal is to become the “Wal-Mart or 7-Eleven of cryptocurrency”, transforming blockchain and crypto tech talk into everyday orders.

According to Zac Cheah, co-founder, and CEO of Pundi X, “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 adaptors,” according to the reports released by the South China Morning Post.

The plan will start to materialize in August, and it’s also worth knowing that currently there are 3,476 Bitcoin ATMs all over the world according to Coin ATM Radar.

Pundi XPOS network has 5,500 devices

The Pundi XPOS network of 5,500 devices would add another widespread platform in order to help everyday people buy their favorite coffee drinks, meals and various items with crypto.

Pundi XPOS is also linked with Apple Pay, WeChat Pay, AliPay, Visa, MasterCard and other mobile wallets.

Regarding the upcoming regulations, the South China Morning Post reported that the Hong Kong Monetary Authority said that the “existing legal framework, under the Payment Systems and Stored Value Facilities Ordinance, which provides for the regulation of stored value facilities and the designation of retail payment systems in Hong Kong, does not apply to cryptocurrencies.”

In the video above, you can watch the CEO buy a chocolate coffee and some Bitcoin using his Pundi X card.

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