At Pundi X, the team has always been dedicated to bringing people the best of what blockchain technology has to offer. From the day that the company first started out, Pundi X has envisioned a world where payments can be swift and seamless while staying secure. That’s why we are elated to announce that our blockchain-based point-of-solution device, the XPOS®, […]
At Pundi X, the team has always been dedicated to bringing people the best of what blockchain technology has to offer. From the day that the company first started out, Pundi X has envisioned a world where payments can be swift and seamless while staying secure.
That’s why we are elated to announce that our blockchain-based point-of-solution device, the XPOS®, will include PayPal.
Since 1998, PayPal has provided millions around the world with a way to transfer funds online and has provided an efficient alternative to traditional paper methods for online vendors, auction sites and countless more.
The idea for this came about after we ran a Twitter poll asking our followers which mobile payment app they’d like to see first supported on the XPOS®. Among the choices were other platforms like WeChat Pay/Ali Pay, GoPay and PayTM but PayPal received an overwhelming majority of the vote, with nearly 70% of all respondents choosing the California-based service.
PayPal’s inclusion on XPOS® devices will then work in pretty much the same way as anywhere else. PayPal’s basic features will be functional on XPOS® devices, including, of course, accepting payments. Accepting payment, for instance, includes the payments via email or mobile phone number. In the U.S., merchants will only have to show a certain QR code for their customers to pay. PayPal Here, on the other hand, offers features for merchants to accept credit card payment.
Yet there’s more to PayPal’s inclusion than just simply making it painless for transactions to take place. Having PayPal working on XPOS® devices also now means that users can easily purchase cryptocurrencies such as BTC, ETH, BNB, DAI, NPXS, USDT, etc. at any XPOS® merchant who has activated the device’s “Crypto Sale” feature. These digital assets can then be securely stored in an XPASS Card, which makes dealing with cryptocurrency as easy as simply tapping the card to complete a transaction. For better management, the use of the XPASS can also be paired with Pundi’s XWallet app.
The deployment of PayPal on XPOS® will be in two stages.
Starting from today, XPOS® merchants in the US can apply for PayPal Here inclusion by simply sending their IMEI numbers to firstname.lastname@example.org. Merchants are required to set up a PayPal Business account to activate credit card payment. Also, in this installation, XPOS® supports keyed transactions only. Swipe credit card transaction is not supported.
The second stage is that XPOS® merchants will have a PayPal app directly on XPOS® devices through system upgrade two weeks from now.
According to CEO and co-founder Zac Cheah, this has also put Pundi X one step closer to its vision of making cryptocurrency accessible for everyone. “It’s always been our belief that cryptocurrencies simply hold various advantages that fiat money does not,” he explains. “Aside from better transactions, of course, we see cryptocurrency as something that promotes financial inclusion. Combine PayPal’s massive user base with the fact that our XPOS® devices are now operating in 30+ markets globally and you could start seeing situations where dealing in crypto is as trouble-free as buying a bottle of water.”