DoshEx rolls out Pundi X blockchain payment tech to enable crypto adoption in South Africa

DoshEx rolls out Pundi X blockchain payment tech to enable crypto adoption in South Africa

DoshEx, a South African crypto asset exchange, and global blockchain-based payment provider Pundi X, today announced a strategic partnership to bring cryptocurrency to high street retailers and local consumers.

In a first for South Africa’s retail market, XPOS, the Pundi X blockchain-based point-of-sale devices and XPASS cards for cryptocurrency transactions are to be deployed at selected sites across South Africa in a co-branded roll-out with DoshEx. Blockchain point-of-sale technology enables merchants to digitize their payment infrastructure on the blockchain while consumers transact in cryptocurrency in a fast, efficient and convenient manner.

Cryptocurrency transactions within the Pundi X payment ecosystem is a hassle-free method that promotes financial inclusion as XPASS-holders will have their own financial history of the transactions on XPASS card and the associated XWallet app without the necessity for having a bank account.

Rapid acceptance is envisaged as the process resembles credit-card transacting, which is a familiar process with consumers. To enable crypto transacting, the XPASS is simply tapped on an XPOS device.

Adoption entails participating merchants to install XPOS technology on their systems and provide the XPASS cards, activated for a once-off fee. Cryptocurrency is preloaded by the vendor. Users then transact on XPASS.

The XPOS strategy calls for a phased roll-out of XPASS cards and devices, with 5000 cards available for the first wave of early adopters. The partners will announce details of the deployment footprint as the technology becomes available in different geographic areas.

De Bruyn added: “The ability to readily transact in crypto is a vital step in digital currency development. Soon it will be the norm for the public to buy, hold and sell crypto. Borderless transactions and transfers will be easy, without the high costs traditionally associated with these activities. In the crypto-future consumers will transact in their cryptocurrency of choice, perhaps linked to dollars or euro. Crypto’s future is bright and Pundi X has provided the first light switch.”

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