In Hanover, Germany, a brand new company is using electronic payments accepted by local retailers to be got by Bitcoin.
Shops in Hanover and most restaurants simply accept cash. Credit cards aren’t the phenomenon they have been in the States, and retailers need to pay very high fees to take debit cards. That means consumers always need to carry cash. But serial entrepreneur Ricardo Ferrer Rivero decided he needed more choices. Rather than work with banks, Rivero reasoned that getting retailers to accept Bitcoin could be a workable alternative.
So he collected a few local technologists, developers, and industrial designers to design and 3D print a payment concole.
So Rivero, a continuous tinkerer, started thinking and talking to friends concerning the endeavor. The concept was to develop a Bitcoin standard that each wallet could integrate with, therefore it will be simple to utilize for consumers. The product also needed to be simple and low risk for retailers.
Using old Google Nexus 7 telephones bought off he and some friends got to work. They customized both the software and hardware and then first installed a new version of Android. BitPay consented to work as the payment processor together as well as developed a tailored system for Hanover’s retailers that lowered threat from Bitcoin price fluctuation. But the customer experience needed work. So that you can get Android telephones empowered with NFC to communicate with other NFC devices, you must put them back to back.
“Its kind of difficult,” said Rivero. With a little soldering, he and his coworkers reconfigured the device so that the retailer could punch in the price of the item, and created a surface where the consumer tap to own their transaction information transferred over and could readily approach using their telephone. It worked, although it turned out to be a rough hack.
Apple’s NFC enabled mobile payment alternative, Apple Pay, rolled out, while the business was in the middle of tweaking its POS. It immediately raised for how his mobile payment stage must be, Rivero’s expectations.
“But I found it wasn’t going to be possible through the standard channels.”