PAX Technology and Cryptocurrency Integration
PAX Technology, a leading provider of payment terminals worldwide, is making strides in the integration of cryptocurrency into everyday retail transactions by collaborating with Lunu Pay. This partnership allows retailers to process payments in a range of cryptocurrencies, such as Bitcoin and Ethereum, across a staggering network of over 80 million terminals without necessitating any additional hardware.
Facilitating Merchant Transactions
This initiative, highlighted in an exclusive report to Bitcoin.com News, facilitates a smoother transition for merchants who can now utilize PAX’s Android-based Point of Sale (POS) systems to accept more than 30 different cryptocurrencies. Notably, transactions can be completed using popular wallets including Metamask, Binance, and Trust Wallet.
Benefits of the Partnership
An appealing feature of this development is Lunu’s role in providing immediate fiat conversion and ensuring same-day settlements in multiple fiat currencies, such as USD, EUR, and GBP. This effectively mitigates any potential volatility risks associated with cryptocurrency for the merchants involved.
Impact on Retail and Consumers
With PAX’s terminals already operational in more than 120 countries, this software enhancement could significantly streamline crypto transactions within established financial frameworks. For shoppers, this means the convenience of using cryptocurrencies at familiar checkout counters, while retailers benefit from simplified Bitcoin and Ethereum payment capabilities without the usual complexities and risks associated with digital currencies.
