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  • Tue, 17 Sep 2019, 08:18 AM
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Pundi X brings XPOS crypto payments to Venezuela's Traki retail stores

Fri, 23 Aug 2019, 08:50 am UTC

Traki, the largest department store in Venezuela, has partnered with Singapore-based Pundi X to integrate blockchain-based cash registers in 49 retail outlets.

Traki has been one of the early adopters of cryptocurrencies in Venezuela, which highlights its commitment to improve the traditional financial system,” Zac Cheah, Pundi X CEO, said.

As per an announcement, the megastore operator will install Pundi X’s point-of-sale device, XPOS, to offer a crypto payment rail for customers.

We made the XPOS with the mission of creating real-life use cases for blockchain technology, and this couldn’t be better represented than Traki shoppers paying for their daily needs with cryptocurrency,” Cheah noted.

The XPOS payments systems support a number of cryptocurrencies including bitcoin, ethereum, Binance’s BNB stablecoin, and Pundi X’s own NPXS and NPXSXEM tokens.

Michael Gomez, Chief of Crypto Assets Department of Traki, said that the collaboration strengthens its goal to make cryptos as easy and convenient to use as fiat in stores.

At Traki, we aspire to offer the most convenient options for our customers, and cryptocurrency has proven to be an effective payment solution,” Gomez said.

Following the installation, Traki is now a part of Pundi X’s global payment ecosystem, which currently has nearly 300,000 users of XWallet, its mobile crypto wallet, and holders of XPASS, its physical transaction card for crypto payments. Pundi X, which is present in 25 countries worldwide, targets to roll out 100,000 devices to the global retail market by 2021.

Just recently, major Austrian telecom operator A1 also revealed its plans to accept cryptocurrencies for payment at chosen store locations within the country. Serving 5 million mobile users and 2 million fixed lines, the network is setting up modes of payments for bitcoin, ether, XRP, litecoin, stellar, and dash. The initial rounds of testing will host payments for Alipay and WeChat pay by month-end.

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