During the last couple of months, India has seen a significant growth of both bitcoin users, but also companies. According to recent reports, an Indian startup known by the bane of Unocoin has just announced the release of their merchant PoS mobile app that aims to make it easier for stores in India to accept the digital currency in exchange for products and services.
The company which was started out in 2013 quickly became the first Indian bitcoin firm to be funded internationally, after having received an investment of over $250,000 from the CEO of the Digital Currency Group in 2014.
In a recent blog post, Unocoin stated that: “Over the past year, our web traffic has increased by more than 500%. We added more than 6,000 users just last month alone and our volume is skyrocketing. While the company’s vision is to bring bitcoin to billions, it is now aiming to make physical stores and merchants in India easier to accept bitcoin. This is presently unmarked territory in India”.
The company also went ahead and claimed that they’re offering one of the world’s simplest Bitcoin PoS apps, which is the main reason why it is expected to be successful in the region.
By using the Unocoin mobile PoS app, merchants in India can accept bitcoin by simply asking clients to either send funds to an address, or scan a QR code.
At this moment in time, merchants have the option of keeping the funds in bitcoin, or having them converted to INR, the Indian currency and then sent out to their bank accounts in the same day. In return, this allows merchants to enhance their payment options, without being at loss, while also encouraging Bitcoin adoption in India.
Based on everything that has been outlined so far, what do you personally think about the launch of the Unocoin PoS mobile app? Let us know your thoughts in the comment section below.
Source: Unocoin Blog
If you liked this article follow us on Twitter@themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.
Ripple is not pausing for breath. The company has brought its dollar-pegged stablecoin, $RLUSD, to…
Bitwise Asset Management has just made its first move into tokenized funds, and it comes…
Binance just made a move that blurs the line between crypto exchange and traditional brokerage…
NEAR Protocol has had a month that most blockchain projects would stretch across an entire…
Something is becoming increasingly clear about Chainlink, the integrations are not slowing down. The protocol…
Blockchain investigator ZachXBT has flagged a major stablecoin freeze that is sending shockwaves through the…