Flexa goes live with crypto payments offering
Flexa has launched its new payments network, enabling shoppers to spend cryptocurrencies in physical stores.
This currently supports Bitcoin, Ether, Bitcoin Cash, and the Gemini Dollar and works at such retailers as GameStop, Nordstrom, Whole Foods, Jamba Juice and Bed Bath & Beyond. “We couldn’t be more delighted to be working in such esteemed company, and we look forward to announcing even more incredible merchant partners on the Flexa network in the coming months,” Flexa said in a Medium post.
Its app, Spedn, generates a QR code that you scan at checkout. The merchant receives immediate payment in dollars, and the equivalent amount of cryptocurrency is debited from your cryptocurrency wallet in the app. “This is the first real instance of decentralised global retail payments, with the power to make commerce more efficient and accessible for billions of citizens globally,” said Flexa CEO Tyler Spalding in a statement.
“The legacy payment systems are complicated and costly. This solution provides a way for cryptocurrencies to solve these problems and allow merchants to conduct inexpensive and fraud-resistant transactions.”
Further details here.