Blockchain technology is likely best known for being "under the hood" of cryptocurrencies like Bitcoin, but it now spreading into the mainstream and being used to handle real-money transactions. As explained by BlockGeeks, it all starts with what is known as a "distributed ledger." This is similar to a spreadsheet that is duplicated thousands of times across many computers. Whenever a transaction takes place, these ledgers are updated with the new information.
The distributed nature of the technology can eliminate the need for the current centralized system and thereby eliminate the need to deal with financial institutions or merchant processors. Instead, your company hooks directly into the blockchain alternative to handle payment processing.
Bitcoin and Other Cryptocurrencies Are Going Mainstream
When Bitcoin first hit the scene, few people thought it would succeed at all, let alone last. Now, however, it is being used as currency in an amazing number of places. This makes it so that there is a large pool of Bitcoin holders who would be glad to be able to use it at physical stores as well as more online merchants. Now is the time for your company to add Bitcoin and other "cryptocurrencies" to its roster of accepted payment types.
How You Can Cash In
Our mBeaconSAM and mBeaconPay payment acceptance systems are now fully enabled to accept cryptocurrencies and tokens as payment methods. Integrating them with your current payment acceptance systems makes it easy for you to reach people who use these alternative currencies. You don't have to figure out how Bitcoin works or how to convert it into your country's standard currency. Instead, our system takes care of everything so you can process cryptocurrencies like any other form of payments.
To learn more about mBeaconSAM and mBeaconPay and how they work with cryptocurrencies, just contact us. We'll be glad to explain everything.