Crypto conversion in the point of sale

[DeluxeJR]

Hello guys!

I would like to exchange some ideas and thoughts about having the opportunity to pay with crypto for an item directly in the point of sale.

for example you give input the type of crypto and the amount of it you want to give, and then the application processes the transaction and pays the retailer in fiat automatically.

Of course, many will think that this may take a lot of time to do it (scalability issues) but what if this transaction happens offline and processed later on to the blockchain?

This is a simple description of the app, I just want to know if you would embrace an idea of crypto payments.


Any opinion is welcome! Thank you!

[1715488688]

1715488688

[1715488688]

1715488688

[Pentagramis]

This idea is already know from projects like PundEX, STACK etc. I don't know if this can actually work as I think that it needs specific POS for this kind of transactions

[Slow death]

This idea is already know from projects like PundEX, STACK etc.

it is very difficult for someone to create an idea that has not been created and implemented by other people, I remember that one day I was thinking about some business idea to do in my country, I already did transportation neoga, but I wanted to do other business, but I confess I had a lot of headache to think of some innovative idea and I could not think of anything. this to say that it is very difficult to have creative and unique ideas.

I don't know if this can actually work as I think that it needs specific POS for this kind of transactions

and to add, I think it would be necessary regulation

I just want to know if you would embrace an idea of crypto payments.

I would embrace this idea, but there are things that would be great obstacles, for example what @Pentagramis said, the regulations, the demand, I mean this would be very difficult to implement in real life. I do not know if you've done much research on the subject.

[LeGaulois]

Unless there is a real demand from both parties. The point of sale has to convert it to fiat, and this for many reasons (taxes reports, paying the bills, etc). They won't bother to even take a look at it if only 1 customer per trimester is using the method. And from a buyer POV, why should they bother to buy a cryptocurrency to do the same thing (but taking longer, costing much,...). Still the Mastercard is the king and Visa the queen

[binarytree]

I'm running a company that does this for online purchases. The problem with brick and mortar point of sale systems is that you need to do a lot of B2B sales to those businesses to have them upfront the cost of the hardware on the expectation that they will make the money back later by saving on CC fees or by bringing in new business due to the new payment method being more convenient for customers. A good approach would be to partner with a company that has existing sales channels to all of these businesses and get them to up-sell your product OR have them somehow upgrade the software on existing point of sale systems.

If you're interested in my project, check out paywithmoon.com

[Conasse]

It's what Paytomat does. https://paytomat.com/. Without the need to a payment terminal. Merchants also get rewards for accepting cryptos.
A typical use case: paying the coffee with Horizen/Zencash https://steemit.com/crypto/@flodner/crypto-zencash-bill-for-coffee-in-kyiv-restaurant-shato