Blockchain technology, and the accountability and security that it affords has given rise to a new form of currency called Bitcoin. Bitcoin is a cryptocurrency that began on January 3, 2009, and has gained acceptance with circulation currently exceeding $7 billion. With Bitcoin and cryptocurrency becoming mainstream, retailers will need to find payment solutions to meet the desires of consumers who prefer to pay with Bitcoin.
Bitcoin and blockchain technologies are still in their infancy, but the practicality they offer has big banks paying attention. Financial institutions have discovered that using Bitcoin allows faster, more efficient, clearing and settlement of accounts between banks. The technology enables the sending of money directly between parties securely and accurately, between banks as well as retailers and consumers. While Bitcoin has become accepted by people and is growing in usage, consumers are finding that they can't use the currency for retail purchases.
Netclearance is leading the industry in providing solutions to merchants, enabling them to accept Bitcoin and other cryptos in consumer transactions. Netclearance applications allow merchants to receive cryptocurrencies and tokens as payments, increasing business opportunities and customer payment options.
Netclearance offers payment solutions utilizing next generation, Smart Wireless Proximity Technology, offering advantages for consumers and retailers. Netclearance's mBeaconPay and mBeaconSAM integrate seamlessly with retail cash registers,payment terminals,unattended vending, and enables acceptance of Bitcoin payment by retail businesses, helping consumers to adopt it as a method of payment.
Bitcoin represents a growing trend in the financial industry and will continue to influence the way consumers and retail businesses conduct transactions.
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