Flexa introduces a new tap-to-pay feature. This enables customers to pay with cryptocurrency directly at retail point-of-sale systems. Users do not need a separate app. This development simplifies crypto payments for everyday transactions. The system works by allowing customers to tap their digital wallets, which hold their cryptocurrency, against a payment terminal. The transaction occurs instantly.
The core technology behind this feature involves Flexa’s network. This network converts cryptocurrency into fiat currency. This conversion occurs in real-time. Retailers receive payment in their preferred fiat currency. This eliminates the volatility risk often associated with cryptocurrency.
The system supports a range of digital wallets. It also works with many different cryptocurrencies. This includes Bitcoin, Ethereum, and others. Flexa states that the goal is to make crypto payments accessible. The company aims to make crypto payments as easy as traditional card payments.
Retailers benefit from reduced transaction fees. Flexa’s network offers lower fees compared to traditional payment processors. This provides a cost advantage for businesses. The company reports that merchants using the system gain access to a larger customer base. This includes crypto holders.
The tap-to-pay feature uses existing NFC technology. This technology is present in most modern smartphones and payment terminals. This eliminates the need for new hardware. This makes the system easy to adopt.
Flexa’s system uses a security protocol. This protocol secures transactions. It protects both the customer and the retailer. The security measures include encryption and fraud detection. These measures protect against unauthorized access.
The launch of this feature follows a period of testing. Flexa conducted pilot programs with select retailers. These programs provided data on system performance. The data confirmed the system’s reliability.
The company focuses on expanding the reach of its network. Flexa aims to partner with more retailers. This includes partnerships with major retail chains and smaller businesses. The company reports increased retailer interest. This interest comes from both online and physical stores.
The system’s core function reduces friction in crypto transactions. The removal of a dedicated app simplifies the payment process. This simplification makes crypto payments more practical for daily use.
Flexa’s network connects directly to existing point-of-sale systems. This connection allows for quick and easy integration. Retailers do not need to replace their existing systems. This reduces the barriers to adoption.
The company reports that the system improves transaction speed. The transactions complete in seconds. This speed rivals traditional card payments. The system’s speed also reduces wait times at checkout.
Flexa’s network operates on a decentralized model. This model ensures network stability. It also ensures network security. The decentralized nature of the network reduces single points of failure.
The company provides resources to retailers. These resources include training and support. This support helps retailers understand and use the system. Flexa also provides marketing materials. These materials help retailers promote crypto payments to their customers.
The system aims to bridge the gap between cryptocurrency and everyday commerce. This bridge makes cryptocurrency a viable payment option. It also increases the utility of digital assets.
Flexa reports that the system is compatible with a wide range of devices. This compatibility includes smartphones, smartwatches, and other NFC-enabled devices. This broad compatibility increases accessibility.
The company states that the system improves financial inclusion. It provides access to payment services for those without traditional bank accounts. This access is provided through cryptocurrency.
Flexa’s system contributes to the growth of the cryptocurrency market. It increases the adoption of digital assets. Increased adoption drives market growth.
The company plans to release updates to the system. These updates will include new features and improvements. Flexa aims to continuously improve user experience.
