iVendPay - a vending machine payment module

[TheNewAnon135246]

Surely this is just a vending machine made for Viacoin users as the payment is instant and based on the demo video he received his coffee instantly. But I am not sure if other cryptocurrencies in the payment option would receive the exact speed of process Viacoin would take. In terms of pricing I think that it is reasonable as as 1.56 VIA is only around .60 USD which is cheaper compared to what we are buying in Starbucks or other coffee brands. Nice project but like what others have said I also wished that they have created the machine to accept direct payments without installing any apps.

How do you plan on sending cryptocurrencies without using an app?

[legendster]

Here's what I think.

The mainstream public interest is directed towards Bitcoin and not any altcoins. Bitcoin has gained worldwide notoriety and acceptance, even Ether hasn't got that yet.
When most businesses make a decision on whether to accept crypto - they gravitate towards Bitcoin because of the potential impending bull runs. Which isn't the case for other smaller yet unknown alts.
But the problem is, as we all know Bitcoin in its current form is not suitable for scaling. Bitcoin Lightning IS.

So why not build this on the lightning network? A proof of concept has already been made : https://twitter.com/ricardoreis007/status/1046482231043215366?lang=en

Just improve on that model. Maybe implement atomic swap for other alts. Maybe have an autoswap offchain implementation that instantly converts ANY alts into Lightning Satoshis..

There's absolutely no need to include alts like gobyte / Viacoin / groestlcoin etc - that's just my opinion.

[TheNewAnon135246]

I don't quite agree. I have really high hopes for LN but some altcoins are much more suitable for microtransactions as they are. LN is also still in beta so I can imagine that iVendPay wants to supply vending machine owners (and their customers) with a more stable option for now. I'll ask them if they plan on adding LN support in the future. I totally agree that they should at some point! Also, I don't see how it hurts to offer customers with more payment options instead of limiting them to 1 or 2 options.

[TheNewAnon135246]

iVendPay posted this on Twitter earlier:

"We know you can't wait for it! See you on #hkblockchainweek"





Looks like they will be showcasing their new Point of Sale module on the HK Blockchainweek soon!

[nc50lc]

-snip-
Looks like they will be showcasing their new Point of Sale module on the HK Blockchainweek soon!

Looks like a modified Android phone with pre-installed app and it looks cheap too.... in a good way (it needs to be as cheap as possible).

I wonder what is the function of that "top-screen".
In the video, it has only one screen on the front; if it was the same unit, the other screen would be inserted inside of the vending machine.
What is it, a Card Scanner or something?

[TheNewAnon135246]

-snip-
Looks like they will be showcasing their new Point of Sale module on the HK Blockchainweek soon!

Looks like a modified Android phone with pre-installed app and it looks cheap too.... in a good way (it needs to be as cheap as possible).

I wonder what is the function of that "top-screen".
In the video, it has only one screen on the front; if it was the same unit, the other screen would be inserted inside of the vending machine.
What is it, a Card Scanner or something?

The vending machine module is different from the Point of Sale. The top screen is meant to display the QR code for making payments. Their design is much more convenient because you don't have to pickup/rotate the device every time you make a sale. You just place it on the counter, enter the payment information and let the customer pay without picking it up. I asked one of their developer for a better picture:

[TheNewAnon135246]

They have updated their website: https://ivendpay.com

They also sent me some photos they made at the Hongkong Blockchainweek. I'll upload them when I'm near my pc.

[TheNewAnon135246]

Binance's CEO CZ tested the machine at a Binance event: https://www.instagram.com/p/BvwlewZg9n1/?utm_source=ig_share_sheet&igshid=zuc18oy4guld

[Kakmakr]

Damn, these guys are taking the bull by the horns with this project. It all started with a Bitcoin add-on module for existing vending machines and now the creativity has been pushed to new Bitcoin Point of Sale handheld devices. These guys will be doing so much more for Bitcoin merchant adoption than what most Bitcoin ATM's have been doing for years.

The Bitcoin ATM's are too expensive and most merchants will rather opt for a inexpensive hand-held device to accept bitcoins in their stores. 

[TheNewAnon135246]

Damn, these guys are taking the bull by the horns with this project. It all started with a Bitcoin add-on module for existing vending machines and now the creativity has been pushed to new Bitcoin Point of Sale handheld devices. These guys will be doing so much more for Bitcoin merchant adoption than what most Bitcoin ATM's have been doing for years.

The Bitcoin ATM's are too expensive and most merchants will rather opt for a inexpensive hand-held device to accept bitcoins in their stores. 

Yeah I agree. They're attending as many events as they can and they have been hearing nothing but great feedback. Their Point of Sale devices will also have Visa/Mastercard support so it's much more attractive for merchants to buy one.

[unocash]

i think its an interesting idea if you can make it work with blockchain.info wallets

[eternalgloom]

I'm a little bit confused about the release dates of these modules.
On their roadmap, they mention that their vending machine modules and POS systems should already be available (released), but I don't see where to purchase them.

Or do you just have to send them an order via their contact form?

[TheNewAnon135246]

i think its an interesting idea if you can make it work with blockchain.info wallets

You can send payments from any wallet that supports QR codes.

I'm a little bit confused about the release dates of these modules.
On their roadmap, they mention that their vending machine modules and POS systems should already be available (released), but I don't see where to purchase them.

Or do you just have to send them an order via their contact form?

I think the date on their roadmap is a mistake. They told me they are aiming for release next month.

[acharias]

Wow, that's awesome! I'd love to pay with crypto when getting a can of Coke or a snack. Hopefully ivendPay will contact large manufacturers.

[medsi2]

That seems interesting and sincerely I would love to use them in my city ahha I'm so bored to use cash, with crypto it would be so easy to pay.
If I understood well it's a gateway/crypto pos that can be installed into an average vending machine (so owners don't need to buy a new one), am I correct?

[shimbark123]

This actually amazed me. This is the first time I saw a vending machine that accepts bitcoin as a payment and it uses a third party program to process payment. I hope that iVendPay could be implemented on every part of the world. This is the future of vending machine.

[TheNewAnon135246]

Here is a video of the ivendPay Point of Sale in action: https://www.youtube.com/watch?v=jLkR_OMnoaM

It's in Russian but you'll get the idea  .

[CryptoBry]

The vending business is huge especially in many developed countries and it is catching up in several third-world countries as well. Vending provides convenience to the customers or consumers and a great business opportunity with less overhead expenses to the vending machine owners. I am sure that this is one industry that can easily adopt with cryptocurrency and can help push for more mainstream adoption. iVendPay can lead the way for this industry integrating cryptocurrency into the picture. I am thinking: Is it possible that instead of offering products the vending machine can also offer cryptocurrencies for sale?

[TheNewAnon135246]

The vending business is huge especially in many developed countries and it is catching up in several third-world countries as well. Vending provides convenience to the customers or consumers and a great business opportunity with less overhead expenses to the vending machine owners. I am sure that this is one industry that can easily adopt with cryptocurrency and can help push for more mainstream adoption. iVendPay can lead the way for this industry integrating cryptocurrency into the picture. I am thinking: Is it possible that instead of offering products the vending machine can also offer cryptocurrencies for sale?

You can already buy crypto vouchers in stores and there are already loads of crypto ATMs available.

[TheNewAnon135246]

I have emailed them and asked for an update. Will post here when I hear back from them.