Categories: CryptoNews

Multipurpose Point of Sale Devices Are Needed To Boost Retail Bitcoin Adoption

Getting retailers to accept Bitcoin payment is a very delicate process. Not only do they need to see the added value of such a change, but the costs to integrate Bitcoin need to be kept to a minimum. Although there are several solutions available–including using a smartphone or tablet– there is something about point of sale terminals.

Multi-purpose Bitcoin Payment Terminals Have Their Appeal

In this day and age of competing payment services, it becomes difficult for retailers to decide which options to accept. Working with all available payment methods would be ideal, but due to the costs of proprietary devices, that is next to impossible to achieve. Adding Bitcoin on that list is usually a problem as well, since they have enough things to worry about already.

That being said, getting Bitcoin into the hands of retailers will require hardware tools. A point of sale device that works with cryptocurrency, and preferably other payment options as well, seems to be mandatory. At the same time, the device has to be affordable, secure, and easy to use. Training staffers is the last thing any store owner wants to spend precious time on.

Unfortunately, it is not easy to come by a point of sale terminal that accepts both Bitcoin and more traditional payment options. Most devices designed to accept Bitcoin payments range from an extra payment terminal that looks like a card reader to very sci fi-esque devices that cost US$400 or more.

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Even though some of these machines may offer NFC capabilities, that doesn’t mean that they will magically work with Android Pay, Apple Pay, or contactless bank cards. Bitcoin payment terminal manufacturers do not have that kind of leverage, even though they can get their hands on the necessary hardware to build a functioning device from scratch.

For now, retailers may be swayed to accept Bitcoin if there is an affordable payment terminal that accepts mainstream payments as well. This includes contactless payments, card transactions, and mobile solutions. The first one to crack this code could strike it rich, assuming they can keep the device price sub US$350.

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JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

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