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Cryptocurrencies in retail: Bitcoins and Beacons

Cryptocurrencies in retail, the future is now.

Bitcoin has gained traction in recent years. But what is Bitcoin?

Bitcoin is a new mode of payment, a new type of money that works as a worldwide payment method with low processing fees and fast peer-to-peer transactions.

Utilization of peer-to-peer technology allows Bitcoin to operate with no banks or central authority to control its transactions.

The issuing of bitcoins as well as the management of transactions is carried out through the network, collectively. In addition, Bitcoin is open-source making the design of Bitcoin available for public use.

No one controls or owns Bitcoin and the world can be a part of it. Bitcoin has a variety of unique properties allowing exciting uses no other previous payment system can top, especially maintaining privacy.

The only problem is because it is so new, few companies use it in retail as existing payment terminals and cash registers cannot support this new payment method so easily.

Well, PROBLEM SOLVED.

Netclearance mBeaconPay platform allows seamless integration with retail cash registers enabling Bitcoin payment acceptance in the popular world of retail, thus helping customer adopt it as a preferred method of payment.

Imagine, never having to use a bank account or credit card again? Bitcoins give you privacy and allow you to make purchases without fear of being monitored. Better yet, with companies like Netclearance providing the bridge between Bitcoin and retail, soon this innovative payment method will become the norm.

In fact, there are already deployments underway in Scandinavia that are paving the way for new digital currencies in retail. 

Check out the Netclearance Blog for more information and make sure to Tweet them. 

Beech forest, music and smart beacons

Mobile payments at festival’s stores and bars

Danish Bank and Smukfest running a pilot project in which 15-20 smart beacons in Zanzi Bar, Beautiful Shop Beech scenes and Beautiful Shop Sherwood is possible to pay with Mobilepay through Netclearance mBeaconPay technology.

Danish Bank informs that the bank for a long time has had inquiries from many festivals, events and transport companies on land, at sea and in the air who want to use technology, but where there may be challenges with a poor mobile coverage and a lot of pressure because many people are gathered in a small place.

In Skanderborg a more advanced solution is being deployed this year with a smart beacon, which is coupled to the cash register. The solution launched Danish Bank earlier this year and has already sold 13,000 smart beacons to retailers.

Faster than credit cards

“Credit card is too slow when many customers are queuing at a bar and have to pay. Mobilepay is faster than credit card. I’m excited to get out to a bar, when busy, and see how fast it really goes, “says Betina Lykke Andersen.

During the week, guests have been able to use Mobilepay and it’s so far gone without problems. Smukfest is ready to introduce mobile payments in full scale at next year’s festival, if the pilot project ends as a success.

Excerpt from original article: Mobilepay debuts at Smukfest 2015