Business 19 March 2018

Erik Gibbs

Mini-POS accepts Bitcoin Cash payments in-store

Brick-and-mortar stores will soon have a tool at their disposal to accept Bitcoin Cash payments. A group of developers out of the UK as created a point-of-sale (POS) server, the Mini-POS, which will facilitate 0-confirmation BCH transactions right in the store. It’s another notch in the belt for the cryptocurrency, and shows its staying power.

The Mini-POS server allows for any smart device, such as an Android phone or tablet or an iPhone or iPad, to be connected to it to run the software. Both the server and the terminal are small enough to fit in a shirt pocket. The system is compatible with a web browser, and all transaction fees are paid for by the sender, so the commercial entity incurs no additional transactional fees. The device does not store any private keys, meaning the user’s information is not compromised.

Using the device is simple. The merchant enters the amount to be charged into the terminal, and the server looks up the exchange rates in real time. A QR code is generated with the merchant’s receiving address, which the client scans to send the payment. Transactions take approximately 10 to 15 seconds.

The Mini-POS offers both Bluetooth and Wi-Fi capability, as well as an Ethernet connection. The kit, which includes a server and terminal, is currently available for purchase for $200, and an additional terminal costs $75. If only a server is desired, it has a price tag of $125. The company plans on starting to ship units this summer.

One unit is already installed and is being beta-tested in Newport, UK. Nine more units have already been ordered by merchants across the globe—five in the US, three in the UK and one in Australia. Because it’s virtually an Internet-based system, it is a viable solution for merchants in any place around the world.

There are already several options available for those that want to accept BCH payments. Coinify, Gourl and Coinpayments offer solutions; however, the Mini-POS is the only POS option available for installation, and the only with no recurring fees. Due to its small footprint, it would be an easy option to offer, without infringing on existing real estate space in the store.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

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