'Flip' Facilitates Contactless Cryptocurrency Payments
Laura McQuarrie — March 9, 2018 — Business
Fit Pay Inc. launched 'Flip' as a tangible device for helping the average person make cryptocurrency payments with bitcoin. To use bitcoins as a method of payment, one must ordinarily open a mobile or online bitcoin wallet—but Flip is a contactless payment device that includes a digital wallet, making the experience of paying for goods with Bitcoin like tapping a secure credit card.
Flip currently works anywhere where contactless payments are accepted, meaning that it can easily be integrated into a merchant's existing systems. As Fit Pay Inc. describes: "Flip exchanges your cryptocurrency value into US dollars, which are then used to fund a prepaid-payment device."
In the future, Fit Pay Inc. plans to make it possible for Flip to be purchased with Bitcoin.
Flip currently works anywhere where contactless payments are accepted, meaning that it can easily be integrated into a merchant's existing systems. As Fit Pay Inc. describes: "Flip exchanges your cryptocurrency value into US dollars, which are then used to fund a prepaid-payment device."
In the future, Fit Pay Inc. plans to make it possible for Flip to be purchased with Bitcoin.
Trend Themes
1. Contactless Cryptocurrency Payments - The Flip device enables contactless payments with bitcoin, disrupting traditional payment methods.
2. Integration of Cryptocurrency Into Existing Systems - With Flip, cryptocurrency can be seamlessly integrated into a merchant's contactless payment systems, creating new opportunities for businesses.
3. Prepaid-payment Devices for Cryptocurrency - Flip's ability to convert cryptocurrency into US dollars and fund a prepaid-payment device opens up new possibilities for secure and convenient payments.
Industry Implications
1. Fintech - The contactless cryptocurrency payment trend provides opportunities for fintech companies to develop innovative solutions for secure and seamless transactions.
2. Retail - By integrating cryptocurrency payments into their contactless payment systems using Flip, retailers can attract tech-savvy customers and stay ahead of the curve.
3. Payment Processing - The emergence of prepaid-payment devices for cryptocurrency, like Flip, presents new opportunities for payment processors to offer advanced and secure payment solutions.
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