Cryptocurrency Application Can Potentially Transform Philippine’s Retail Landscape https://ift.tt/2OaTfsB

Contrary to what many Filipinos would like to think, remittances are the most crucial cryptocurrency application. However, remittances can be helpful for those people of Philippines who are working or living abroad.

Of course, there is no doubt that remittances sent using cryptocurrency will be an important application area. This particular use case enables the overseas foreign workers to curtail costly fees that facilities like Western Union demand for overseas wire transfers.

However, as mentioned earlier, Filipinos living overseas will find remittances through digital currencies. A much wider application of cryptocurrency is its potential to transform the retail landscape of Philippines. Yet, cryptocurrency is yet to make a big and significant impact in the country’s stores.

Many people in the Philippines still regard the cryptocurrency as only a means for wealth accumulation. They love to use the virtual currency as a means for speculative investment instead of using them as digital currencies. Pundi X Pos is a superb solution for the retail space that the Philippines should consider implementing on a large scale.

Benefits Of Installing Pundi X Pos

Hong Kong-based conglomerate called the FAMA Group deployed Pundi X Pos at all their restaurants. Incidentally, the group runs the Locofama, SUPAFOOD, Sohofama, and Hive Café.

While launching a fresh point-of-sale solution by any food operator can be a big step, the Pundi X Pos can be truly a game changer move for the FAMA Group. What makes the Pundi X POS distinct is its ability to receive any cryptocurrency like NPXS, Ethereum, or Bitcoin as payment.

Vulcan Post reported that the only step an in-store customer or consumer has to do is to use a local fiat money (Hong Kong dollars in this case), the Pundi X Pass card or a mobile wallet. Thereafter, customers need to simply use cryptocurrency as their payment mode to purchase a meal.

 

The post Cryptocurrency Application Can Potentially Transform Philippine’s Retail Landscape appeared first on OWLT Market.

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