The Pundi X Labs is on the hunt to bring in cryptocurrencies for the use of brick and mortar businesses athwart Southeast Asia by means of a new POS or point of sale device.
The Pundi X POS device would facilitate convenience stores, shops, and cafes in buying, selling and accepting of cryptocurrencies as a method of payment. In addition, this will allow them to supply their clients with an easy and quick method for selling and buying of cryptocurrency by means of a card, mobile wallet, Pundi X Pass, cash, or banks.
Pundi X Labs has made a claim to put together the world’s biggest sales of offline cryptocurrency network. They seek to be in attendance in over 100,000 stores in the next 3 years athwart all the target markets.
The Pundi X firm comprises of the Pundi X POS, which is a device linked to the Ethereum Blockchain, that is to say, the Pundi X blockchain. This makes use of smart contracts for the storage of credit rating data and transactions, in addition to PXS tokens, which is the “gas” powering Pundi X. Merchants are required to pay for PXS tokens for the listing of their cryptocurrency, goods, or services.
In the close future, the Pundi X firm is making plans for collaborating with local financial institutions for the creation of a credit rating structure by means of the blockchain technology that is ultimately targeted at the unbanked population of Southeast Asia.
The Pundi X Company will start on the deployment of its POS scheme in Indonesia, in hands with the mounting network of the sister corporation, known as Pundi-Pundi. The startup Pundi-Pundi is a mobile payment business, offering a scan to pay service close to Alipay by means of QR codes for enabling cashless imbursements. Pundi-Pundi was launched almost one year ago. It presently counts over 100,000 registered consumers and above 500 merchants in Indonesia’s massive capital, Jakarta.
Zac Cheah, the CEO of Pundi X Labs has claimed to have demonstrated demands for the cashless transactions in the midst of their Pundi-Pundi QR application, which is presently established as being among the largest in Indonesia, next to the Alipay mode. At present, they are well placed for building on their widespread user base and affiliations with the leading partners for taking cashless transactions to the next level by fetching cryptocurrencies to the standard user.
For fueling its development, Pundi X plans on targeting the restaurant chains and large retailers and looks to build reliable relationships with firms, which already contain a huge user base or, otherwise, supporting community. For further info about this venture, check out their whitepaper.
The initial accord signed last with E2Pay, a payment solutions provider will grant Pundi X admittance to the many million members of the NU, the biggest religious group in the area via integration among NU Cash, the group’s individual payment application, along with 25,000 convenience stores run by Bulog, a large stores operator in Indonesia.