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Developers also plan to expand the payment feature to the web.
Xumm and XRPL Labs developers have launched a QR payments feature to allow users to make XRPL payments at retail stores with the native XRPL wallet.
It was disclosed in a tweet via the official Xumm Wallet account yesterday, as developers disclosed that they had installed the first point-of-sale terminal at 36aWay, a sandwich and pasta shop in the Netherlands. Per the tweet, developers built the solution in partnership with Frii, a loyalty program platform.
As reported, XRPL Labs’ lead developer Wietse Wind teased the feature at the end of last month. Notably, it came in response to a call for a Xumm wallet debit card.
In yesterday’s announcement, developers explain that cards are inefficient and attract extra fees, making QR payments more optimal.
"When Xumm debit card?"
Never. Legacy payment networks & systems bring the same inefficiencies & costs we're fixing.
Which is why we're SUPER excited the very first @FriiWorld "Pay with Xumm" (XRPL QR payments) POS terminal was installed yesterday.
One terminal: card & Xumm. pic.twitter.com/Im1Pna0d36
— Xumm Wallet (@XummWallet) February 16, 2023
Users can pay in any Xumm-supported token while the store receives the requested amount of fiat as a Gatehub stablecoin, according to Wind. The developer explains that a decentralized exchange will handle the conversion. Additionally, he asserts that Gatehub stablecoins are considered e-money, not crypto. Consequently, he believes recipients can convert to fiat without additional tax.
Explaining the phrase “one terminal: card & Xumm,” Wind says that stores with POS terminals for cards do not need to get another terminal or device to adopt this option. The lead developer says this is because retailers can add the Xumm XRPL QR payments solution to the existing terminal.
The XRPL Labs developer has hinted that merchants will be able to start signing up for the service soon, explaining that Frii would share further details with the roll-out likely to begin in the United Kingdom. In addition, Wind has said that developers plan to launch the payment feature for e-commerce stores, saying it will launch on one of the biggest e-commerce stores this month or next.
Unsurprisingly, the community has received the development with excitement. Bias Goose, the technical community lead at Ripple, asserted that it would be a very beneficial option for users in developing countries faced with crippling inflation, as they could receive payments in any currency of their choice.
I can’t help but think of the impact this would have in a country like Argentina. High inflation, people don’t like holding ARS. The DEX would help people buy USD or any other currency. Merchants can receive payment in any currency they would like, no fees.
— Bias Goose (@BiasGoose) February 16, 2023