Though digitized, effective and designed to bring ease to users, cryptocurrencies have their own set of issues. One of the foremost is little acceptance in daily lives from brick and mortar sellers.
Why The Issue?
Holding a crypto wallet and understanding transaction methods, knowledge of private and public keys, calculating currency exchange rates, and having the requisite hardware such as a computer can be too much troublesome for some retailers. Lack of knowledge in the crypto space is a major hurdle in accepting it a sa means of payment.
Even if the retailer does have knowledge and is willing to trade with a cryptocurrency as medium of exchange, the seller may have too many customers to look after (and subsequently, not able to spend too much time waiting on one while the transaction confirmation comes through).
Third issue that hampers adoption by retailers is the ever volatile value and liquidity of digital currencies. By the time a retailer get around converting earned cryptocurrency into cash, the rate fluctuation would mean a loss.
The need of times is a solution of payment that is as easy, secure and has volatility protection.
UTRUST And Pundi X Tag Team
UTRUST is a cryptocurrency payment gateway platform that steps in to help merchants and buyers trade in cryptos with ease. The platform offers a simple mobile and PC based interface that allows transfer of a number of cryptocurrencies through either entering the public key or scanning a QR code version. This makes it very easy for payments. The UTRUST platform also allows for a refund option, something not seen in cryptos since all transactions are final and cannot be reversed. The platform’s support of multiple currencies also mean retailers do not need to have multiple wallets.
Their partnership with Pundi X gives them another edge. Like UTRUST, Pundi X also gives users payment options through mobile wallets, but it also offers physical Point of Sales (PoS) machines for retailers to use and retail customers can pay through either their mobile app or the upcoming Pundi X plastic card. With this, any retailer can accept cryptocurrencies since it will be as easy as swiping plastic. The teaming up means that the large number of UTRUST retailers and buyers will have access to the same ease as Pundi X’s users. Under the deal, UTRUST will acquire 1,000 of Pundi X’s PoS terminals to use for their retailer users.
In turn, Pundi X will use the instant liquidity service of UTRUST for its users, allowing them to accept any supported crypto as payment and either instantly convert it into their preferred tokens or liquidate into fiat to avoid market fluctuation.
The two major payment platforms collaborating to help each other is a major turn of events in the mass adoption of cryptocurrencies for day to day purchases. With providing more ease to common man and retailers, the team up is helping in realizing the true goal of cryptocurrencies replacing traditional fiat and its slow, cumbersome banking channels for good.For more information on the crypto payment gateway, visit their website: https://utrust.com/
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