Bitcoin and PoS is one combination which many companies are trying to crack and they have come up with different ways to enable it. Few have bitcoin debit cards linked directly to the user’s bitcoin wallet or exchange account and there are prepaid bitcoin cards, where the user has to transfer bitcoin to the card account for use.
In both the cases, the bitcoin cards can be used like any other credit or debit cards, both online and at the counter. Some of them can be used to withdraw cash from regular ATMs as well. However, these cards are not supported by all networks. Some of them allow payment from the bitcoin wallet directly by scanning the QR code connected to the merchant’s account with the bitcoin payment processor.
The conventional payment industry has move towards Near Field Communication (NFC) enabled contactless payment technology and until now there have not been many players in the bitcoin sector offering similar services. There have been a handful of companies like Mycelium, Circle, BitPay and others who have already incorporated contactless payments on their platforms. Now another player, Plutus is in the play with its new contactless bitcoin payment technology.
Part of BlockCode Limited, a United Kingdom based company Plutus contactless payment system is currently in alpha stage. The Plutus Tap and Pay system is powered by Decentralized Exchange Network (DEX) and it can be used at NFC terminals at DEX powered cash/billing counters to pay with bitcoin. The Plutus application is connected to the customers’ wallet. Moreover, the payments received by merchants will be settled with fiat currency.
Upon visiting the website, visitors will be greeted by a pop-up asking them sign up if they are interested in testing the alpha product and receive latest updates about Plutus Tap and Pay.