Hello Team, can you elaborate on the Physical POS Terminal i read on Ann page? Does it means that there will be POS on mobile as well?
Do you have a bounty program?
here is bounty >>
https://bitcointalk.org/index.php?topic=4426676Regarding Physical POS terminal which comes in a desktop and a handheld (for smaller shops) I would suggest to have a look to white paper for more details but here some highlights for your reference
Currently the Agate POS terminal is available in two types, for mobile users and for physical stores, which both come with unique features, including but not limited to the following:
I. Borderless
Unlike traditional POS terminal solutions, which are limited to a specific region, Agate POS terminals can be used everywhere in the world without infrastructure limitation! These terminals use the Internet to securely connect to our POS server hosted in the cloud on five continents, and users can use mobile Internet (i.e., 3G/4G) or any other type of common Internet connection (e.g., LAN, WiFi, ADSL) in order to connect their devices to our network.
II. 0% transaction fee
While currently merchants have to pay between 0.5% and 3% transaction fees to their bank, financial institute or POS providers, Agate’s POS terminal sits on Agate iFiat’s Ecosystem, which runs Agate blockchain. This means merchants will not be charged when they receive the funds in their iBucket wallet, and as iBucket is a decentralised wallet, they can spend it anywhere they like—for example, to pay their suppliers or buy items for themselves—or, alternatively, they can request to deposit it to their bank accounts or to load onto their debit cards.
III. Instant settlement (24 x 7 x 365)
In legacy POS terminal systems, banks or service providers usually limit their merchants to only perform settlements once or twice in a day . Even after 24 hours of this settlement, they may not access their funds for various reasons—for example, if the merchant’s business bank account is different than the POS provider or if they settle after the bank’s deadline (usually 10:00 p.m.) or over the weekend. Running transactions on Agate iFiat Ecosystem resolves these issues with real-time settlement, because as soon as a customer pays the funds become available and spendable in the merchant’s wallet.
IV. Secure connection
This is a decentralised ecosystem, and because there is no middleman to handle transactions, all transactions are performed on the Agate iFiat Ecosystem blockchain with unique and traceable TX ID, which is trackable in Agate block explorer. For other connections (commands, user data, etc.) from a POS terminal to our cloud hosting, we have used a secure method that included hashing all data with a public key and a nonce; then the hashed payload and nonce would be sent to the cloud, and a server would decrypt it by using a private key while the whole process runs on SSL context with valid CA certificate, which is a symmetric 256-bit encryption on X.509 certificates .
V. No lock-in contract, no exit fee
In order to encourage merchants to use Agate POS terminals and, as a result, to grow the Agate POS network, there won’t be any lock-in contracts. They will only need to pay a one-off fee in AGT token to have this service, as shown in the table below, plus a small monthly fee in AGT token for maintaining this infrastructure. Also, merchants can return the terminal as soon as they like without penalty.
VI. No monthly fee (optional)
Merchants have the choice to own POS terminals by paying a one-off fee to avoid recurring monthly fees; to do so, they can pay from their iBucket wallets or with AGT token.
VII. NFC/RFID support
In-store terminals (desktop) can support NFC payments, so instead of showing QR codes, users can use NFC to pay (similar to Visa PayWave or Mastercard PayPass ).
VIII. Selling virtual goods
In order to incentivise merchants to use the Agate POS terminal, they can also sell virtual goods (e.g., phone charge, iTunes, Google play, Skype credit and similar items) directly on the POS and get commissions for them. As all these transactions would happen on the iFiat Ecosystem using Agate API Suite, these items can be provided by any supplier who is willing to sell their services to Agate users. However, this option is planned for after the ICO. When the Agate merchant app is updated, this feature would immediately be available on all merchant POS without extra hardware or cost.
IX. Never lose a dollar!
In legacy POS terminals, if for any reason a terminal is damaged either physically, through faults in their applications or because of electronic shock, it’s quite possible that merchants may lose their whole day’s income if they do not settle on time. In the Agate POS terminal, this is prevented because of its decentralised nature; as soon as users pay, the Agate POS terminal will sign into the iFiat Ecosystem and, as all the funds are logged in Agate blockchain, the merchant can access it from any other device and spend it or cash it out.
Great reply! That's a lot of useful information that should be pinned to the first page of the thread.
Show Posts
