Paytomat to provide NANO with Point of Sale Application for Payments
NANO has tweeted a solution for its usage as a means of payment. The partnership brings Estonian Paytomat and NANO to provide a Point of Sale (PoS) service in which users can buy crypto to use as payment at restaurants, hotels, shopping and more.
Paytomat provides the infrastructure which users can download from the Android or IOS store. Though the platform provides you with your own Paytomat wallet, users can choose a wallet they may be currently holding crypto in, mitigating the need to shuffle crypto around. An individual or company can become a distributor and establish the system in their country.
The service currently supports payments in the form of Bitcoin (BTC), Bitcoin Cash (BCH), DASH, Ethereum (ETH), NANO, WAVES, Decred (DCR), Litecoin (LTC), Horizen (ZEN), ZCoin (XZC), NEM and Dimecoin (DIME). This allows users to buy bitcoin or one of the other cryptos to use as payment. The system also incentivises paying with crypto as a user can buy crypto to use as payment to receive loyalty rewards.
A lot of cryptocurrencies have not reached their full potential. The PoS system addresses some volatility concerns as the merchants will not expose themselves to price fluctuations. A fiat gateway will be used to convert the crypto to fiat and make settlement to the merchant, potentially increasing the cryptos demand and liquidity.
More projects are increasing the functionality of their coins and their application of it. The PoS system could become a major gateway for the adoption of merchants accepting crypto as payment. Such a system could prompt those to buy cryptocurrency who wish to use it for everyday purchases for security and speed.
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