From being accepted in online transactions, bitcoin payments have slowly penetrated the mobile market space as app developers have focused in developing the technology for this. Bitcoin Checkout, a mobile point-of-sale app has recently been nominated as Retail App of the Year for the 2015 Contactless & Mobile Awards.
The Bitcoin Checkout app was introduced in November last year by BitPay in Las Vegas’ Money 20/20 Convention and generated a lot of interest and recognition among cryptocurrency enthusiasts. With its NFC one-tap technology, the app aims to contribute in making bitcoin payments mainstream for retail transactions.
Development of Bitcoin Checkout
With more and more online merchants and large companies accepting bitcoin payments, more consumers are made aware of its ease and convenience. It is also a more secure way to pay, as the transactions are tracked in a public ledger called the blockchain.
Bitcoin Checkout has gained positive feedback from its users in the past months and the nomination suggests that bitcoin payments and apps of this kind could go further. For the company, the combination of NFC technology and bitcoin infrastructure makes the app a secure and frictionless mode of payment. Apart from that, it could also reduce overhead costs for companies compared to credit card payments.
The Bitcoin Checkout app can easily be integrated to other sites and functions, allowing other retailers to take advantage of this development. This also reduces the risk of chargebacks and fraud, thanks to the blockchain feature. “For retailers, accepting mobile payments is a growing trend, but none of today’s industry offerings can provide a lower risk or lower cost than swiping a credit card,” said Tony Gallippi, co-founder and executive chairman of BitPay.
During their launch, the company mentioned that this bitcoin payments solution is available in 40 languages and includes multi-employee checkout, tipping, and tip reporting. The checkout app is available for Android devices currently and will soon roll out to iOS, according to a statement from BitPay.