Cryptocurrencies Spreading in Canadian Retail

Cryptocurrencies in retail are becoming more practical as a payment form with new businesses accepting and now even selling bitcoin every year. 

Canadian bitcoin users now have an additional 6,000 retail locations to purchase their favorite cryptocurrency, according to CryptoCoinNews.

As bitcoin transactions continue to expand, more and more consumers are looking for easy and practical ways to purchase bitcoins. 

Thanks to bitcoin ATM maker BitAccess, Canadian consumers have access to a new bitcoin purchasing method. 

BitAccess is based in Ottawa, and this week they detailed how customers will be able to purchase bitcoin at 6,000 retail locations. They'll do so with a ‘Flexipin’ voucher. The vouchers can be purchased with cash or a payment card, and they'll work like a gift card. 

BitAccess said Flexipin is a "prepaid voucher that lets you top-up your accounts to make secure, hassle-free online payments. Because Flexepin are prepaid, the risk of having your identity and banking information exposed online is eliminated."

After a customer buys the Flexipin voucher from a cashier, they'll be given a receipt. Sixty seconds later, that receipt can be redeemed for the cash equivalent of the cryptocurrency that was purchased. 

Flexipin vouchers will be sold in denominations of $10, $30, $50, $100 and $250.

BraveNewCoin reported that although purchases can be made anonymously, customers will need to have a BitAccess web account in order to redeem their coins. 

BitAccess has also implemented a purchase cap of $250 worth of the cryptocurrency each day. 

To redeem bitcoins after purchase, customers just need to log into their BitAccess account and type the code printed on their Flexipen voucher they received from their cashier. 

More retailers are beginning to accept bitcoin payments, and if your business is seeking a way to accept bitcoins, look no further than Netclearance's own mBeaconPay technology. The mBeaconPay platform integrates with cash registers, enabling them to process bitcoin transactions.

If you're interested in learning more about our mBeaconPay technology, please contact us.

The Future of Cryptocurrencies in Retail is here

In an increasingly digitized society, computers and the internet are changing every aspect of our daily lives, including the way we pay for products and services. Dollars, coins, and checks are slowly being replaced by debit cards and credit cards with magnetic bars and chips. As time goes on, a new competitor emerges, one that's even more sophisticated. Known as cryptocurrencies, digital currencies such as Bitcoin are beginning to replace standard versions of currency. However, many businesses still are not equipped to allow consumers to use cryptocurrencies in retail, meaning that there is a large volume of potential revenue retailers are not taking advantage of.

Why are Bitcoins excluded from retail?

Bitcoin is still a relatively new technology, with a lifespan of only a few short years. It goes without saying that it will take some time for this technology to mature and become more popular, both with consumers and with retailers. Traditional card reader terminals are unable to accept cloud-based bitcoin payments and interact with bitcoin wallets.

At the same time, there are steps we can take to get ahead of the game.

How can Netclearance help with cryptocurrencies in retail?

With the mBeaconPay platform offered here at Netclearance, we can help close the gap between consumer and retailer, allowing both parties to use Bitcoin effortlessly. Our platform integrates seamlessly with retail cash registers, allowing the acceptance of Bitcoin. As more and more companies get started on this new technology, more and more customers will want to use it.

It's never too late to get started with the currency of the future. Netclearance is here to help your business reach more consumers in the digital age.