To support the growing success of dematerialized means of payment since the Covid 19 crisis, cryptocurrencies must imperatively be democratized and come out of their status as a speculative asset. This popularization is only possible on condition of facilitating small daily purchases from electronic payment terminals. Many fintechs are in the running. But do their solutions really meet the expectations of the greatest number?
How to cash bitcoins on an electronic terminal?
Open an account
There are many point of sale (POS) solutions for bitcoins like BitPay or Global P.O.S (if you are more tech savvy check out BTCPay Server). The first step is to open an account with the provider of your choice. It is generally sufficient to register and / or to contact the appropriate service in order to find out more: operation, price, implementation, deadlines …
Create a payment order
Once the application is installed, you open a payment window to enter your Order ID. You then enter the amount. The conversion into Bitcoins is done automatically.
Finalize the transaction
The system generates a unique QR code that your customer scans upon opening their Bitcoin wallet app. Once the transaction is validated, the payment confirmation is sent and the ticket printed.
Here is an example with BitPay, the merchant will create a payment order and the customer will scan the QR Code.