The use of cryptocurrencies in the payment of goods and services, has hit several set backs as was seen with Litepay closing shop as well as FuzeX recently postponing the launch of their highly anticipated debit cards. In the case of the latter, the team had to delay the launch for they were having difficulty being issued a BIN (Bank Identification Number) by the relevant authorities. LitePay also fell victim to similar hurdles as the team could not get a card service provider to partner with. Kenneth Asare, CEO of LitePay, informed the Litecoin Foundation back in March that he had ceased all operations and was selling the company.
What is Poppy and How is it Different?
Poppy is a Point of Sale system designed specifically for the Tron ecosystem to bring TRX payments into the real world. By leveraging the Clover POS system, Poppy will offer an agile, integrated and dynamic alternative to traditional payment systems.
Merchants and retailers who wish to enter the crypto payment space, simply need to update their existing Clover hardware and instal the Poppy App. Clover provides multiple merchant solutions such as a full Point of Sale station, a Mini clover station, a hand held flex device and a tap-and-go payment solution.
By developing on the Tron blockchain, Poppy will offer the speed and robustness of the network. Furthermore, by utilizing TRX as a payment option, transaction fees will be significantly reduced compared with traditional credit-based payment methods. Merchants and retailers will be able to accept cryptocurrency payments in the form of TRX and TRON tokens straight out of TRON wallets, TronCard, and integrating the popular social media payment system of Seedit.
The crypto community will also appreciated the addition of TronCard that is a credit-card style payment solution that allows purchases and transactions at the Point of Sale terminal using TRX and Tron tokens. The card will include additional security features such as a 3D barcode.
Integration with Seedit
Poppy will use the current momentum being experienced by Seedit, to bridge the gap between the Point of Sale terminal and social media. Vendors can use Seedit to provide discounts, complimentary items, gift cards and rewards on the Blockchain that can be viewed/redeemed at the POS.
What do you think about the launch of Poppy? Will it accelerate TRX adoption as a payment option? Please let us know in the comment section below.
[Image courtesy of medium.com/sesameseedorg]
Disclaimer: This article is not meant to give financial advice. Any opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.
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