The past few years have observed an erratic rise in cryptocurrency. Because not everyone is familiar with this abstract concept of currency. But gradually, the cryptocurrency is bombarding with different sorts of technologies to tread the path of transformation from an abstract idea to a concrete concept.
The technology of cryptocurrency has remained an unobserved bliss for a long time. This means that even though the technology has been around for years, it has been broadly and globally unused.
But as discussed that cryptocurrency keeps on collaborating with a majority of newly rising technologies so that it could be practically applied. However, the journey seems to take blind turns with no fixed destination as the value of bitcoins have witnessed a plummet. But we could still see a flicker of hope in the bitcoin industry as the cryptocurrency market has seemingly been less volatile for the last few months.
Integration of Point Of Sale and CryptoCurrency
With the advancements in technology, the manual cash registers have been replaced by a more efficient and promising service called the Point of Sale System. This system, although new in the market, has received significant recognition and acclamations from most of the businesses and retails. This recognition is the result of several services and advantages of point of sale systems. The newly equipped and effectively evolved Point of Sale system has tended to improve sales, boost revenues, and simplify inventories and record-keeping of customers. These gestures altogether make a point of sale system a complete success. The point of sale system climber the ladders of success and sophistication quickly through major customer extended services like online transactions. The point of sale system allows the customers to simply swipe a debit or a credit card to complete their payment, and now it has even upgraded the payment systems from debit and credit cards to mobile wallets. But one of the most significant blows to the point of sale system was its involvement with the cryptocurrency. Many POS systems have integrated the payment features of cryptocurrency like bitcoin due to its fast service, speed, security, and transparent details.
So looking over the facts, we know that bitcoin or cryptocurrency is, in fact, a decentralized form of digital money. One of the most unbelievable factors of the bitcoin include its absence of authority, the bitcoin is not answerable to any sort of authority like bank, government, or any specified company. Although the government is functioning towards some regulations on bitcoins, so we might soon observe an authority over bitcoins or maybe not. But until then, let's observe some robust features and a gem of point of sale software that holds with themselves the characteristics of bitcoins.
Stripe
The Stripe API is a technology-oriented company that allows any individual or business-related payments over the Stripe terminals. Although some might question the credibility of an online submitted payment, the Stripe API withholds any sort of fraudulently in a brilliant sort of fashion. The security checks and methods of Stripe API are unquestionably strong and excellently executed.
Stripe API works towards making bitcoin services a universal method of payment in areas where credit cards and debit cards payment experience technical glitches due to swipe machine issues or in areas where the credit card fees are prohibitive.
However, Stripes API admits to the fact that it has reduced the bitcoin payment facilities to lower rates observing sole issues and failures in the bitcoin currency system. The Stripe API supports two working bitcoin terminals:
?BBPOS Chipper 2X BT
?Verifone P400 Reade
Square Inc.
Square Inc. is a San Francisco based company that deals with financial services, merchant services, and mobile payments. The Square Inc, San Francisco allows various merchants, customers and potential buyers across the United States, Canada, Japan, Australia, and the United Kingdom to set up a to and fro motion of their payments offline through debit cards or credit card services from their iOS, androids and tablets or PCs.
The Square Inc company led a major uplift in payment methods when it introduced the bitcoin services in its company. The bitcoin approach was apprehensive at first, but soon, when the customers began to involve themselves with the newly found payment technique, the company smoothened its way from a steep road of bitcoin currency payment. Initially, it proved to be a hard choice and led to significant outruns in the company as people were scared in trying some new monetary policy that posed a threat to their hard-earned savings and money. But soon, people understood the benefits of the bitcoin currency system and started making their payments through them.
Observing this rise in the numbers of bitcoin currency usage, Square Inc soon opened up the option of bitcoin payment right beside the visa and MasterCard payment options.
Square Inc, has a handpicked payment terminals that allow bitcoin payments:
?Square Register
?Square Stand for contactless and chip
?Square Terminal
?Square Reader for contactless and chip
?Square Reader for magstripe
PayPal
PayPal Holdings Inc., informally known to be PayPal is a global payment system that involves thorough and rigorous online applications. PayPal, after its launch, soon came to be known as the official substitute for manual checks and money orders. PayPal supports all sorts of online transactions, be it transferring money to another account or receiving money from another account. You can recharge your bills and fill up for different coupons and side by side, enjoy the offered discounts that PayPal offers in some brands after substantial use.
PayPal has been wholeheartedly working towards the newly hyped modular system of cryptocurrency or bitcoin. PayPal supports the exchange of decentralized money through a feature called PayPal Venmo. PayPal Venmo allows its users to exchange bitcoins as a means of transactions instead of any messy form of operations that involve transaction Ids.
