The company has started the rollout of a completely cash-less ATM which accepts both debit and credit cards rather than bank notes for Bitcoin and expects delivery next week from touchmate.com.au
The device dispenses plastic Bitcoins that are about the size of a standard metal coin. The machine also provides balances and a sell Bitcoin feature with a cash docket that can be redeemed for cash through participating merchants.
To address the security issue your secret account number is stored on the Tag. A password is stored in the company’s database but not the secret account number. This means that a thief would need the tags and the database to make a getaway with your Bitcoins.
Your pubic account number, the one you give out to people that want to send you money to is also stored on the tag which is safe. These tags broadcast your account number to nearby mobile phones so that others can send you Bitcoins. Tags come in a range of shapes and sizes including wrist bands, pendants and key fobs.
The company offers both variable and fixed price Bitcoins. The fixed price Bitcoins are not affected by price volatility as the company charges a small premium to hedge against price variations.
The Tags can also be used to purchase goods and services at retail merchants that have installed the company’s Merchant Point of Sale solution which costs about $100.00. The company also provides an exchange web site to allow users to change their PIN, report lost tags, add bank accounts to sell their Bitcoins for up to $1,000 without requiring any identification documents.
For added security and convenience the company offers a reader that can be used at home with the tags which gives peace of mind since it’s not connected to the Internet.
“For those that travel frequently and buy from overseas stand the benefit the most”, said Stephen Rowlison CEO of the company. “Our network means that you’ll never need to pay for a foreign currency charge or fall victim to exchange rates when you buy our Bitcoins from our global ATM fleet”. When you land in a new country you can pay in Bitcoin in the shops. Merchants like it also because they can buy supplies in Bitcoin and not get hit by charges either and reduce cash on hand. Our ATM operators earn % but are required to keep the machines full of Bitcoin tags which we supply at no charge”.
http://diamondcircle.netThanks for the update. I think the work your doing along with the likes of Cointike, Neo&Bee, Lamassu, Bitcoin Kinetics, and others, are the much needed first steps to bring the btc network to a tangible place for the masses. I hope this will all culminate in some really innovative and groundbreaking Bitcoin POS technologies.
Cheers!
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