Cryptobuyer Joins Binance Chain, Integrates BNB for Shoppers at 200 Stores Across Latin America
Cryptobuyer has integrated Binance Coin (BNB) into its point-of-sale solution for over 200 stores and retail chains in Latin America. The payment gateway has developed a network of more than 50,000 registered users, crypto ATMs and a crypto payment solution designed for shoppers to use their cryptocurrencies in physical stores.
Cryptobuyer counts Traki, the largest retail chain in Venezuela with 46 superstores, among its clients. In addition to BNB, member businesses can receive payments in several cryptocurrencies including Bitcoin, Litecoin and Dash.
The platform works by generating a QR Code for each transaction. Shoppers can then scan the code using a cryptocurrency wallet on their mobile phone to make a payment with the digital asset of their choice.
The company says payments are then settled in a merchant’s bank account in USD within 48 hours.
According to the Cryptobuyer team,
“Our solution is a real and functional alternative to the problems of hyperinflation, shortage of cash and an advanced payment tool, thus becoming a real use case in one of the places where it is most needed in the world.
It also provides services to Panama and Costa Rica for hotel chains and tourism companies which identified the niche of digital nomads — travelers who use digital assets for their daily expenses while working remotely.”