Bitcoin Forum

Hi there.
Didn't find any topic about digital currencies for Merchants. The idea is simple - who are developing such kind of currencies for merchants needs. I'm not a developer but looks like it must have POS integration SDK and be fast enough to pay for cup of coffee in a second. Of course free or low fees prefered, merchants will choose them. What do you think what other features it should have?

Currently i know only few:
Pundi X
Nano

If merchants want to buy digital currency all they need to have is a dedicated piece of hardware which will accept all the transactions they will make. This could be any trusted digital wallet.

Actually there are plenty of coin that has your criteria, the most famous is DOGE i think, though the developer started it as "not really serious" project, but seems like they are get people attention, the fee is 1-2 doge for each transaction, and the transaction usually less than 3 minutes. Other alternative will be NANO Raiblock, (XRB before they rebrand) it is faster and I have read that they have zero fee transaction feature, but from my experience it cost 0.5 - 1 NANO.

Your suggestion is excellent. If this is implemented then there will be a dynamic change in business. If there is POS integration SDK, the transaction will be faster and faster. I think people in digital currency would expect such services.

There is still many exchange service that supports merchant to premium using coins in merchandising. Coinbase commerce is one of them, and it is perhaps is a good shot to go for merchants. What do you think, please let me know...

Great idea and it sounds useful for me, the 2 coins you've mentioned are doing great and it has purposes for merchandising business, looking forward that a lot of developers would think for coins that could be integrated in merchandising business. Maybe, if not all coins out there can be used also in payments of goods and services, but not totally intended for that matter. Later on, this will develop from time to time, and i am sure this idea would boost other developers to think this way. Its much better than the rest of the useless platforms.

Not only for merchants, it might be great for travelers too. This will enable them to transact from anywhere and at any place. A good idea indeed. Maybe this post might grab any developer's attention.

There are various payment processing sites already available, then why waste an extra for merchant specialized digital currencies? Sites like CoinPayments, gives you the opportunity to convert into any currency preferred, crypto or fiat, whichever. And the conversion rate is minimal.

With this project can help many people who don't have fiat money when they visiting a country. It will be new technology that can interest other people to use it, cashless method payment.
Other feautures it should have like can paying taxi's argo or grab.

You don't really need separate coins for the merchants since there are various payment processor sites available like CoinPayments, UTRUST, PumaPay etc. These sites accept almost all the major cryptocurrencies as payment from the buyer and convert them to either fiat or the crypto that merchant wishes to accept payment it. Also they have very low conversion/transaction fees compared to others.

It does sound good. In fact, it will be a great thing if this does get enabled to the merchants. Not only to them but the people in all general sense. Getting the existing coin to do this but tweaking their algorithm could do the trick I think since I'm not an expert developer either.

It should have a stable value, The volatility has been giving a lot of chance to the merchants to lose their money just in some seconds. The only possible thing the build a blockchain that will help the merchants to liquidate their amount just in a second.
Flogmall.
plaza (soon)
Scalability has become the main problem why merchants are still not adopting crypto.

REBL is making a plug n play blockchain infrastructure which could be utilized by merchants and businesses according to there specific needs. They can make business required centralized as well as decentralized blockchain as in accordance to the business needs whereas eventually the token metrics will still point towards the decentralized REBL currency.

I don't know if there are on going transaction with this kind of modus but for me it is unlikely to happen due to the volatility of digital currency. Although the transactions are fast but there are times when it would be so slow that your hot coffee will become cold before transactions will be completed. But it is a nice idea, we just have to find ways to control volatility in the future.

You are probably thinking of an infrastructure similar to what the usual debit/credit card companies are offering where it is easy for merchants to integrate into the system and accept payments from those who are bearing the cards. This has been the basis of many projects before and I think if you look closely at the ICO scene right now there are also who are offering the same kind of infrastructure though in the implementation things can unravel and there will be many challenges that have to be faced head-on. Merchants have been looking for something like this but of course there has to be done to cope up with volatility also as this is another big concern many merchants are scared of.

We all know that the value of cryptocurrencies are too volatile and the volatility crypto is it possible to cause of losing the money of merchants and it should be need an stable price of currency.

The work around for that is a simple solution that allows merchants to convert all payments in crypto into fiat currency or even into a stable coin in real time as the payment is made.

Another project you should consider if you are looking at POS tokens is STK Token. They use a software solution to bridge between cryptocurrencies and existing payment infrastructure with a mobile Tap To Pay app. Here is link to a page that explains how it works. https://stktoken.com/platform-technology.html

Merchant coins does not really make sense to me. I think there are already options available of making your payment using coins like BTC, ETH, LTC, XRM etc. which merchants accept too. You just need to use a platform like PayBear which makes the transaction possible. So, I don't really see the need for a separate coin right now.

So I'm familiar with these coins, but they do not have their own terminals yet, so you can not pay for coffee, and you'll pay off bitcoin in StarBucks!

Maybe for now they deduct for that little pricey. Might as well use other cryptos or try to use Pundi X. Let's wait what the future holds into us.

Maybe you can use Travelbybit one of the best app in Australia You can buy bitcoin or any other cryptocurrencies all you need to do is scan a Qr code and that's it.

I don't think merchants will need separate coins as long as there are coin processors available. Coin processors make it possible for consumers to pay in any cryptocurrency they allow and the merchants can convert the payment to their preferred currency which includes fiat too. In that way, it removes all the need for having a separate coin for merchants.

If as merchant you want to accept crypto then two options you will have one is accepting payment from cell phone wallet or another is by simply buying Point of sale machine or POS.

The acceptance of cryptocurrency as a merchant by buying point of sale machine is very beneficial. The process method of bitcoin or crypto currency in Pos is very dedicational another facility come along is their hardware and software.

In addition to Pundix there is also a payment system in many stores with Utrust cards https://store.utrust.com/ please check the truth, maybe you are interested