Despite the popularity of Bitcoin and other digital currencies, many of us still cannot use cryptocurrency for everyday purchases. SpacePay seeks to change this.
Drawbacks of Cryptocurrency in Retail
Retailers face challenges when implementing cryptocurrency payments. Complex technological setups, unpredictable price fluctuations, and compatibility issues with existing systems make many businesses wary. SpacePay offers a solution allowing standard terminals to be used without the need for replacement.
Addressing Volatility Issues
SpacePay provides an instant settlement system that protects store owners from cryptocurrency price volatility. When payments are made using crypto, funds are transferred in local currencies, allowing businesses to avoid financial losses. The exchange rate is locked at the moment of payment, ensuring stability.
Streamlining Transaction Processes
The payment process is quick and simple: customers scan a QR code and confirm the amount, while all necessary checks are performed automatically. Transitioning to SpacePay requires only a software update, simplifying integration and minimizing employee training.
SpacePay focuses on the practical aspects of integrating cryptocurrency into everyday payments, potentially helping Bitcoin and other digital currencies become a realistic alternative to traditional payment methods.
