It’s undeniable that Web 3.0 use cases such as NFTs and cryptocurrencies are on the rise today. A survey conducted earlier this year by management consulting company Deloitte found that almost 75% of retailers are planning to accept either cryptocurrency or stablecoin payments within the next two years. 87% of merchants broadly agree that organizations accepting digital currencies have a competitive advantage […]
It’s undeniable that Web 3.0 use cases such as NFTs and cryptocurrencies are on the rise today. A survey conducted earlier this year by management consulting company Deloitte found that almost 75% of retailers are planning to accept either cryptocurrency or stablecoin payments within the next two years. 87% of merchants broadly agree that organizations accepting digital currencies have a competitive advantage in the market. In fact, 93% of those who currently accept cryptocurrency as a payment instrument have already seen a positive impact on their business’s customer metrics, such as customer base growth and brand perception, and they expect this to continue next year.
To help accelerate mainstream Web 3.0 adoption, blockchain solutions startup Pundi X is excited to announce the release of XPOS Web 3.0 at the Singapore Fintech Festival 2022. This new feature builds off the XPOS, which is a unique point-of-sale machine enabling brick-and-mortar retailers to accept crypto payments and transact on the blockchain. With the XPOS, ordinary retailers can accept top coins like Bitcoin and Ether with just a scan of the QR code or a tap of an NFC-enabled card.
The XPOS Web 3.0 gives an exciting new spin on the original XPOS’ unique proposition. This is because the XPOS Web 3.0 will support multiple blockchain networks including Bitcoin Lightning Network, Binance Smart Chain, Ethereum, Polygon, and Avalanche.
With the cross-chain capabilities of XPOS Web 3.0, users can buy and pay for all sorts of crypto with their blockchain wallets. For example, the new Cashier Pro function accepts BTC, ETH, BNB, and USDT crypto payments from 3rd party wallets supporting their relevant blockchain networks.
Yet, XPOS Web 3.0 is good for more than just individual use cases. Merchants will be able to use the p(x)Change dApp powered by Function X technology to connect their blockchain wallets to accept crypto payments and sell crypto via multiple blockchain networks.
Finally, XPOS Web 3.0 doubles down on its commitment to enable easy Web 3.0 transactions by introducing the p(x)Card, a Near Field Communication (NFC)-empowered hardware wallet card developed jointly with renowned semiconductor manufacturer Infineon. The NFC technology facilitates secure and efficient two-way communication in a transaction and ensures that transacting with crypto is as easy as swiping a card.
The launch of XPOS Web 3.0 hopes to be a game-changer in enabling decentralized payments that give people back control over their assets. One of the biggest draws to Web 3.0 digital assets like crypto and NFTs is that data regarding ownership is stored on blockchains rather than private companies. The idea is that users will be able to decide on their own who they share their data with, the level of access granted, and until when this data should be shared.
“We see our work with the XPOS Web 3.0 as a big step in revolutionizing what we own,” concluded Pundi X CEO and co-founder Zac Cheah. “With the XPOS Web 3.0 as our contribution to the web3 movement, it will certainly be interesting to see how this technology our lives will change in the coming years.”
Pundi X will showcase the XPOS Web 3.0 in Blockchain Association Singapore Pavilion during Singapore Fintech Festival from November 2–4 2022.