Pundi X, a global blockchain-based payment firm announced a partnership on 08 April with DoshEx, the South African Digital Asset Exchange, to foster cryptocurrency adoption.
Pundi X commenced by highlighting that the purpose of this partnership was to bring cryptocurrencies to retailers and local consumers. South Africa would be benefited with XPOS, the Pundi X blockchain based point-of-sale (PoS) device. To enable transactions the XPASS cards would be issued. This offer would be deployed at selected regions across South Africa and co-branded with DoshEx.
Zac Cheah, CEO and Co-founder of Pundi X Labs cited –
“XPOS is the easy, affordable access point into crypto for mainstream retailers and consumers. Many big businesses already access the crypto benefits of trusted record-keeping transactions. Now, an XPASS card loaded with crypto enables ordinary people to embrace the crypto-future, including millions of unbanked South Africans.”
Pundi X continued by informing that blockchain driven PoS terminals facilitate merchants digitize their transactions. Customers are equally benefited by using cryptocurrencies in a fast and efficient manner. Pundi X emphasized on the productivity gain offered by blockchain technology which promotes trust of transactions.
Pundi X further added on the convenience of using the infrastructure. XPASS-holders are benefited from a financial history of transactions. The customers can also avail XWallet app without necessarily having a bank account. In a bid to simulate transactions like credit-card, the XPASS card is just tapped on the XPOS device to make payments.
DoshEX CEO Alex de Bruyn expressed the objective to build South Africa’s PoS cryptocurrency network. He reasoned that this was the salient factor to partner with Pundi X. Alex further clarified that Pundi X had enabled payment solutions in various markets including developing economies like Argentina, Colombia, Brazil, Nigeria and Uganda.
Recently, Pundi X announced the release of the world’s first blockchain fan named XFan. The fan is powered by the blockchain to provide real-time cryptocurrency market updates through its cutting edge spinning blades so that users stay updated with the crypto market. Customers can also customize the display of their XFan.
Pundi X threw light on the easy adoption of their technology. Participating merchants just have to install the XPOS device and circulate XPASS cards. The XPASS cards are activated through a fee and cryptocurrency is preloaded through a vendor. The deployment strategy is planned phase wise with 5000 cards available for the first phase. The partners would share the details of the deployment once the technology becomes available across many regions.