Getting cryptocurrencies accepted by everyday users has been a challenge to say the least. But today, the transition is just a little bit closer to happening. Thanks to the new Flex Application, a mobile app used to process payments, the world will be able to start using cryptocurrencies to purchase goods & services in stores across the globe.
The new beta app of Flexa is available for use, giving users the ability to make purchases in Bitcoin, Ethereum and Bitcoin Cash, so they can pay for goods and services in various stores. The possibilities are as wide as your imagination, coffee, clothing and everything in between can now be bought with cryptographic keys used by the app.
Mobile phones are the only devices required to use the app to make cryptocurrency purchases. People simply take their phone with them when shopping in real-time at their favorite stores. Once they make their selections for purchase, the next step is tap one time for a unique flexcode. The code will be sued at the store’s point of sale terminal to scan the item prior to deducting the correct amount of cryptocurrency.
As of now, the cryptos available for use to make purchases are Litecoin, Bitcoin Cash, Bitcoin and Ethereum. But there will be more cryptocurrencies soon enough, making the new application very useful for crypto-enthusiasts. After swiping the code and tapping, the customer has completed their end of the deal, only needing to wait a short period of time to complete the transactions. The app does all the work for the customer, communicating to the server at the POS terminal, deducting the right amount from the wallet address to convert it to the correct dollar amount or other fiat currency at the accurate rate.
The company who created the app is based out of New York, founded by Kathleen Pierce-Gilmore (former PayPal exec), and other developers from CC companies like American Express. There are currently 35,000 POS terminals around the world that will now accept cryptocurrencies as viable payment options, most of which are shops you would go to for normal purposes.
The company is looking to way we shop, making payment solutions easy once and for all. The main concern, of course is fraud, eliminating the risk has been hard but essential to make the app trustworthy to the mainstream public. Cutting out middlemen, banks and other financial institutions has been rough as well, but necessary to keep the fees for using the transaction down to a minimum. Customers also require the freedom to choose their own payment methods. If options for payment methods become limited, then the system becomes less attractive. Flexa has solved each of these issues, making the app one of the most useful cryptocurrency platforms the world has seen so far.
The company has taken the collective experience of the team, mixed it with years on top of years of experience in payment processing, and created an application that is desirable to cryptocurrency enthusiasts as well as the mainstream public. The best part is this is only the first version of the app, there are sure to be improvements and updates as customer feedback pours in. No doubt there will be a few hurdles to get over as is expected, but for now the app seams to be ready for a very smooth ride.
It’s the ease of use that makes Flexa easy to adopt by the masses. People are now able to complete transactions using cryptocurrency with ease – fast and effectively – without having to worry about the potential for fraud. It doesn’t matter if the store is brick and mortar or online, they will now be able to use cryptocurrency to buy their favorite products.
The app is only one of the projects under development at Flexa, other new protocols are being launched for the network to manage app to wallet communications for any cryptocurrency. Flexa is being designed to work for any merchant service in the world, making it one of the most useful apps being released to the market. You can learn more about the app at the company website.
Will Flexa help bring cryptocurrency to the mainstream public? Leave your opinions in the comment section below