As cryptocurrencies grow in popularity, more and more Retailers have been trying to begin accepting them, or at least accepting Bitcoin. So far, however, this capability has mostly been limited to online shopping and has been very limited. There is a new application and payment network from Flexa called Spedn that will let participating retailers accept cryptocurrency.

Participating Retailers

With the use of this application, the average person can easily spend cryptocurrency to pay for their purchases at major retailers. These retailers include Whole Foods, Gamestop, and Baskin Robins. Crate and Barrel and Nordstrom are also big names confirmed to participate. Some retailers will directly accept the cryptocurrency. Others will require customers to bring a barcode that the merchant will scan to the register. Upon scanning, the payment network just converts those funds into fiat in real time.

To start participating, there is no need for expensive upgrades on the part of retailers. They just have to make some simple configurations to their scanners.

Accepted Cryptocurrencies and Compatibility

In addition to the obvious choice to let Spedn work with Bitcoin, it also works with Ethereum, Bitcoin Cash, and Gemini. At the moment, there is only an application available for iOS, but the Android version is “coming soon.”

Real-World Functionality

Those who have already had an opportunity to use the Spedn application indicate that it does work exactly as advertised. The process of using the application to pay for purchases was as simple as having the cashier scan the barcode.

What Makes This Different

Time will tell if this particular implementation of the ability to spend crypto on real-world purchases works. It overcomes one of the significant challenges of previous attempts, which is the difficulty of incorporating acceptance into the point-of-sale system. It also overcomes other issues by using the real-time network from Flexa to clear transactions.

Source:

https://www.engadget.com/2019/05/14/flexa-spedn-cryptocurrency-app/?guccounter=1

http://fortune.com/2019/05/13/bitcoin-comes-to-whole-foods-major-retailers-in-coup-for-digital-currency/

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