Bangalore-based India’s leading Bitcoin company Unocoin has launched a merchant PoS (point-of-sale) app for increasing Bitcoin adoption in a nation which still feels more comfortable in using cash and debit cards.
The app is intended to make it easier for stores, both online and physical, to accept Bitcoin in payments. The businesses have been flinching from accepting digital currency payments due to the cautious stance of the Reserve Bank of India.
The app is now available for download on Play Store for Android and Appstore for iOS.
Co-Founder of Unocoin, Abhinand Kaseti said,
Over the past year, our web traffic has increased by more than 500%! We added more than 6,000 users just last month alone, and our volume is skyrocketing. Thank you all for supporting us along the way.
The merchants who decide to use the app will benefit from zero installation fee, zero processing fee, zero Bitcoin price volatility, and zero maintenance fee.
The merchants have to just sign up with Unocoin and get their accounts verified. After that has been done, they can install the Unocoin PoS app and scan the QR code on the website to pair their mobiles to the merchant accounts.
Post successful pairing, the merchant becomes eligible to accept Bitcoin from its customers.
Unocoin has been leading the bitcoin bandwagon in India. The Company boasts of 70,000+ users, 6,000+ freelancers and 25+ online merchants who use the services provided.
The acceptance of digital currencies in India is still a long shot, given that the central bank warns the users on a timely basis about the related risks. A majority of the Indian society is still conservative about its money and feels most secure when it’s in hard cash. However, we are hoping that the bitcoin revolution alters the Indian payment system sooner than later.