FAMA Group in Hong Kong Makes It Possible to Pay With Cryptocurrency Via Pundi X Payment Devices
FAMA Group holds its own in the organic food business. In order to keep up with the latest innovations in across multiple industries, they now have the option for consumers to pay with their cryptocurrency with the addition of POS devices from Pundi X. FAMA managed to get in early with Pundi X, which have had 25,000 of the devices pre-ordered since they promoted their ICO.
These POS devices are easily integrated into the physical stores and are available for use with any everyday purchase. When it is time to pay, the device shows the price, and the QR code is taken from the user’s phone. This kind of technology has been used for fiat currency already, allowing the payment to be processed before providing the customer with a receipt.
On the Pundi X website, it is shown that the device can process payments through other crypto wallets and can be programmed with additional applications for a wider range of benefits. CEO of Pundi X, Zac Cheah, said in a statement to ZDNet Korea that, “In the next three years, we aim to shorten the supply of at least 100,000 units of fund-based POS terminals worldwide.” He also discussed the ways that this product will help countries where most locals lack a bank account or credit to make payments. With blockchain technology, consumers without credit can show their customer history as a form of security, much in the way a credit rating does.
Right now, the company uses NPXS tokens, and CoinMarketCap.com reports that they have a market cap of $298.5 million right now. However, just last month, $19.6 million of the tokens were involved in a small-scale theft from Coinrail, which is based in South Korea. However, consumers may find solace in the fact that this amount was only 3% of the total tokens in circulation. Luckily, the exchange to receive the theft was kind enough to freeze the funds so they could not continue to be lost.