A self-service kiosk for shoppers who want to pay for everyday items using cryptocurrency is now available for merchants.
UK-based fintech Kappture, which manufactures point of sale systems for the event industry, has just released its fee-less system supporting crypto payments in Nano.
The machine features a user interface designed for fast and easy transactions for consumers on the go. Payments are confirmed by the securely decentralized Nano network.
Neil Haran, Kappture’s chief technology officer, says the company has seen a lot of interest in cryptocurrency products and that he expects merchants to trial the new tech in private.
“Many of our higher education customers are opening blockchain postgrads this academic year. With recent advances in digital currency technology, specifically fee-less ultrafast transactions, there is a unique opportunity for these progressive institutions to consider digital currency for the first time.”
Introducing our self-service kiosk. Available immediately.
Supports sub-second #cryptocurrency $NANO natively alongside EMV. No transaction fees for crypto.@kappture1 pic.twitter.com/2unqkcGavr
— Neil Haran (@neil_haran) November 23, 2019
Kappture’s latest merchant device exclusively integrates the cryptocurrency Nano because of its ability to handle fast transactions and zero fees over a secure, decentralized network.
According to the company,
In summary, we selected Nano for the following reasons:
a. Fast. Sub-second confirmation is quicker than bank payment cards.
b. Feeless. Zero fees irrespective of the amount. Nano can be used with no minimum payment.
c. Decentralized. At the time of writing it would require the collusion of three unrelated parties
(whom all have a verifiable interest in the currency’s value), to attack the network.
Game theory asserts that these actors will not behave in a way contrary to their interests.
d. Scalable. Every account has a separate blockchain which can be updated independently of other accounts – this removes contention issues associated with early cryptocurrencies.
e. Green. Our terminals lead the way in energy consumption and supporting a project that relies heavily on PoW would be contrary to this goal.
As a leading player in the event industry, Kappture has built up an ecosystem that already supports thousands of terminals in Western Europe.
Their clients include Ascot Racecourse, Wimbledon and Twickenham, with kiosks that enable several payment options including cash, third-party account interfaces, and over 15 bank payment cards.