Can You Use POS Systems for Accepting Crypto Payments?

Can You Use POS Systems for Accepting Crypto Payments?




The answer is YES – you can surely set up a customized retail point of sale software to start accepting crypto payments. As a merchant, you must consider the growing importance and scope of cryptocurrencies. They can be exchanged, traded, and used for making purchases.

Crypto payment processing has become the need of the hour for business organizations and retail ventures. POS systems, just like the FinTech market, are constantly evolving. Whatever resonates with customer journeys such as checkouts or shopping experiences can be enhanced using POS technologies.






Adapting to POS System Software for Accepting Crypto Payments

Let’s clear the doubts: You don’t need to have the knowledge of core crypto concepts to start accepting crypto payments from your customers. It involves an easy setup process once you’ve installed a customized point-of-sale system.

Here we have answered some significant questions about accepting cryptocurrency payments using retail point of sale system :


Why Should You Accept Crypto Payments from Customers?

It’s quite known how a variety of payment methods can increase the chances of varied customers making purchases from your store. Moreover, crypto users are massively growing in numbers with each passing day. Accepting crypto payments sets a clear pathway for you to increase your sales. Customers desire flexibility when it comes to making payments. In case you strike a chord with their payment preferences, they will be willing to revisit your store again. Hence, customer retention is one of the many reasons why you should start accepting crypto payments.

Another reason to do so is that you can always convert crypto payments into FIAT money. The crypto payments simply get transferred to your digital wallet in whichever form you would like.




How Can POS for Crypto Payments Benefit Your Business?

Apart from the benefit that POS systems can help you accept crypto, there are ample other benefits:

  • You can integrate your systems with your POS systems and bifurcate the item groups which were purchased using crypto payments.
  • You can keep a track of your crypto payments and scrutinize them based on such payments converted, traded, or anything else you’d do with them.
  • A POS dashboard can help you to manage crypto payments as well as the customers who pay using cryptocurrencies.
  • You can provide multiple crypto pay options based on different cryptocurrencies such as Bitcoin, Dogecoin, etc.

You can team up with a crypto payment processor to elevate your POS system and e-commerce store with the presence of a cryptocurrency payment gateway.




What Do You Need to Accept Crypto Payments as a Merchant?

As a merchant, you’d need a fully-featured POS System with a Crypto Payment Processing Facility. Here are the features you should expect from your POS system provider:


Easy Setup and Usage

Your chosen POS software system and hardware should be easy to set up, especially when you wish to activate crypto payments. While your POS provider can get it done for you, it’s advisable to ask for a payment gateway for secure crypto payments. Otherwise, simple QR code transactions or NFC payments can be done to accept cryptocurrencies as payments.


Greater Cryptocurrency Options

POS systems can help you establish multiple payment channels for your customers. However, the software you choose or the payment gateway processor you opt for matters too! This is because the variety of different cryptocurrencies is vast and you must provide the popularly used cryptocurrencies.




Cryptocurrency Payment Gateway

As stated earlier, a crypto payment gateway can keep your business smoothly running! Apart from all the other POS methods to accept at the checkout, you can utilize a crypto payment gateway for online payments. Also, it will help you convert the accepted cryptocurrency into a FIAT currency of your choice. Expect your POS system service provider (for example, PtechPOS) to have a tie-up with leading crypto payment processing companies, such as Patel Processing.


Support Services

Customer support services are like underlying car accessories – you think you might not need them, but you will. As a merchant, it’s important for you to ensure that your POS provider delivers unconditional and result-oriented support services whenever your crypto payment POS system has a glitch or bugs.


Let’s Conclude!

Using Retail POS system technologies to accept crypto payments is a smart way to embrace the market advancement taking place at a lightning pace! If you want your customers to choose your store over others – set up a cutting-edge POS system and start accepting crypto payments NOW!

Location: Georgia, USA

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