Panda Group Launches Multi-Purpose Xeler Crypto Point of Sale (PoS) & ATM in Colombia
Colombia’s crypto industry recently marked a major milestone with the launch of Xeler Crypto ATM. This innovation by Panda Group was set up in Bogota for its premier operation; the Point of Sale (PoS) terminal is set to scale the use of digital payments in Colombia. Today, clients at La Tortata sweet shop can purchase baked products using their crypto coins. In addition, they can exchange DAI, BTC & BCH digital currencies for fiat Colombian pesos through these PoS.
Panda’s Multi-purpose PoS Cryptocurrency ATM
Panda Group, the mother company to Panda Crypto Exchange launched this PoS on 22nd January 2019. The firm’s goal is to allow retail clients leverage digital assets for small payments in their day to day lives. Xeler, the PoS service, was installed in Bogota’s La Tortata sweet and facilitated the first crypto payment through BCH. One of its notable features is the service of buying and selling crypto coins, this will enable clients to evade volatility if need be within a few minutes. Arley Lozano, the firm founder, detailed on the launch of Xeler’s PoS saying that the innovation has so far been a success.
In an interview with Bitcoin.com, Lozano further added that they are set to scale operations through 20 additional Xeler PoS IN Bogota. This follows recent partnerships with a number of popular pharmacies in the area. Panda Group’s multi-purpose PoS/ATM is price friendly when it comes to the commission charged; users will only be deducted the amount used to process sales. Xeler will gather data for price reference from the Colombian peso and Localbitcoins prevailing crypto prices.
Xeler’s Latin America Crypto Market Prospects
Xeler goes by the initials of BTM or CTM according to its creators, this is simply short for Crypto Teller Machine. Users of this PoS terminals will have full control of their cryptocurrency funds as the system is designed to hold no custody of a merchant’s digital assets.
Panda Group made it clear that Xeler devices are built for crypto trading and payment processing. Based on their logic, the innovation enhances the user interface for PoS activities across markets that accept crypto payments today. Furthermore, the ecosystem design focused on providing top-notch security for its platform users.
Going forward, Panda Group plans on increasing the range of digital assets within its ecosystem. The firm is set to acquire more clientele with flexible features such as Xpay which can allow a retailer to make payments in both crypto and fiat. This goes a long way in including risk averse crypto enthusiasts into the growing digital currency payment arena. To get started with Xeler, one will have to undergo a straight forward registration channel. They will then be eligible for crypto trading and use other Xeler devices within a given region without registering again. Crypto funds will be sent to one’s preferred digital wallet upon payment or be held in a redeemable voucher to be accessed later.
The PoS/ATM merging is one of Panda Group’s pride in this innovation. According to the team, this move is geared towards penetrating the Latin America market;
“Panda Group is thinking about the needs that exist in the Latin American market, because the ability to buy or sell cryptocurrencies makes it easier for those people who want to begin their voyage into the crypto world — They don’t usually do it because they think they should invest a lot of money but the minimum default amount for using the Xeler device is 50,000 COP ($15).”