According to reports, some of the largest retailers in the United States such as, Starbucks, Nordstrom, Office Depot, Bed, Bath & Beyond, Retailoplis, Crate & Barrel, Baskin Robbins, GameStop, Jamba Juice, Barnes and Noble and Amazon-owned Whole Foods, are now accepting cryptocurrency payments.
The entire process is as smooth and seamless as paying using Apple Pay or any other phone-based digital wallet.
The payment works via Flexa’s Spedn mobile app. Once you install the app on your smartphone, you the proceed to send some cryptos to your wallet. The app supports a number of cryptos including the obvious suspects, Bitcoin and Ethereum, and Litecoin.
Once you fund your wallet, you just hold up your app to pay at the cashier, just as you would with Apple Pay. The cashier doesn’t even get to know that you’re paying in cryptos. The retailer receives his payment in real-time through the method of his choice, be it crypto or fiat currencies. For those that select fiat payments, Gemini handles the conversion.
According to a report by Forbes, Cameron Winklevoss couldn’t hide his excitement at the launch of the product. After demonstrating just how easy it is to use use cryptocurrency at a Starbucks outlet, he proudly exclaimed:
We’re finally realizing the promise of crypto in payments. It’s taken a long time, but as you’ve seen for yourself we’re here. It’s a total win for the merchants. That transaction was effectively free.