Fit Pay Inc. launched 'Flip' as a tangible device for helping the average person make cryptocurrency payments with bitcoin. To use bitcoins as a method of payment, one must ordinarily open a mobile or online bitcoin wallet—but Flip is a contactless payment device that includes a digital wallet, making the experience of paying for goods with Bitcoin like tapping a secure credit card.
Flip currently works anywhere where contactless payments are accepted, meaning that it can easily be integrated into a merchant's existing systems. As Fit Pay Inc. describes: "Flip exchanges your cryptocurrency value into US dollars, which are then used to fund a prepaid-payment device."
In the future, Fit Pay Inc. plans to make it possible for Flip to be purchased with Bitcoin.
Why This Trend Is Growing
- Contactless Cryptocurrency Payments
- The Flip device enables contactless payments with bitcoin, disrupting traditional payment methods.
- Integration of Cryptocurrency Into Existing Systems
- With Flip, cryptocurrency can be seamlessly integrated into a merchant's contactless payment systems, creating new opportunities for businesses.
- Prepaid-payment Devices for Cryptocurrency
- Flip's ability to convert cryptocurrency into US dollars and fund a prepaid-payment device opens up new possibilities for secure and convenient payments.
Industries Being Reshaped
- Fintech
- The contactless cryptocurrency payment trend provides opportunities for fintech companies to develop innovative solutions for secure and seamless transactions.
- Retail
- By integrating cryptocurrency payments into their contactless payment systems using Flip, retailers can attract tech-savvy customers and stay ahead of the curve.
- Payment Processing
- The emergence of prepaid-payment devices for cryptocurrency, like Flip, presents new opportunities for payment processors to offer advanced and secure payment solutions.
