Pundi X Tech Makes Bitcoin Spending Easier
Pundi X has just concluded its new tests involving hardware devices operating on a PoS network designed to simplify everyday payment methods and plans to integrate the technology into many physical outlets, restaurants, shopping malls and more.
Although regulatory authorities stating that Bitcoin is unqualified for a method of pay, the Indonesia-based company is preparing to over 5000 of its PoS devices throughout Hong Kong.
Despite the regulatory issues, Pundi X’s development team is adamant in initiating a system designed to ease the purchase of digital coins as well as spending. The team’s main objective is making it as easy as it is to buy a cup of coffee, for example, using these devices as payment methods. Utilizing blockchain technology, Pundi X plans on making their PoS network available at as many outlets as possible, including shopping centers, bars, restaurants and more.
Zac Cheah, the company’s head executive, and co-founder stated that given how high tourism and the number of new technology integrators within Hong Kong, it provides an excellent testing platform for the company’s new devices and tech before full public release. Pundi X also plans on releasing launching its test phase next month after releasing their devices.
As of now, almost 3500 Bitcoin ATM’s are currently operational on a global scale. The new Point of Sale network will see more than 5000 of the company’s devices essentially creating a new platform to aid the average citizen in purchasing everyday things like coffee, jewelry, clothes and more.
The new network is connected to several online wallets like WeChat, Visa, Apple Pay and other digital wallets. The device allows many traders, investors and everyday citizens to access many payment services from one source. Through the network, stores and businesses can utilize its features and accept payment in cryptocurrencies such as BTC, ETH and many more.
As it stands, given Hong Kong’s current regulations regarding payment systems and methods within Hong Kong, digital currencies do not meet the current regulations.