Velo Labs has announced strategic partnerships between its Orbit crypto payment network and major point-of-sale (POS) systems. The collaboration aims to integrate cryptocurrencies into 500,000 daily transactions by the end of 2024.
Based on the announcement, the partnerships reflect the convenience of Visa and Mastercard by enabling crypto payments through QR code scans. This allows consumers to pay with cryptocurrencies rather than credit cards. Moreover, Orbit facilitates swift crypto transactions for merchants and consumers by bridging traditional POS systems with blockchain networks.
Through the deals, merchants using integrated POS networks gain access to Orbit’s crypto payment processing and instant conversion. This opens new revenue streams while ensuring merchants receive stable payments. The approach matches legacy systems’ simplicity but utilizes blockchain technology’s advantages.
Central to the initiative is Orbit’s platform, which embeds smoothly into existing POS frameworks for secure and efficient crypto checkouts. The focus on user-friendly functionality aims to drive mainstream crypto adoption. By connecting Orbit to conventional commerce infrastructure, Velo Labs is pioneering the evolution of financial services.
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