Flexa announced the launch of its network along with the mobile wallet app, SPEDN. Currently, the app is a limited launch. The world wide release is scheduled for next week. SPEDN can be downloaded from the App Store.
The digital wallet payment methods do not require an additional plug-in. They utilize the digital scanners we generally use to conduct phone-based transactions. Apple Pay, Google Pay, Mi Pay fall in the same category.
At first glance, it might be a hassle for big retailers like Baskin-Robbins, GameStop, Cinemas to upgrade their back-end. To accept payments via SPEDN but it can go a long way.
Meanwhile, for customers, it will be another convenient mode to carry out smooth transactions.
SPEDN: Faster, fraud free transactions
SPEDN allows cryptocurrency payments in no time. Major retailers are anticipating to adopt SPEDN. Particularly so, as they have already accepted Bitcoin, Bitcoin Cash, Gemini Dollar, and Ether, at ease.
SPEDN is an inexpensive solution. It will resolve cryptocurrency transaction problems at ease. SPEDN transactions will be fraud-resistant and inexpensive.
Tyler Spalding, co-founder, and CEO of Flexa, reported:
“The legacy payment systems are complicated and costly. This solution provides a way for cryptocurrencies to solve these problems, and allow merchants to conduct inexpensive and fraud-resistant transactions.”
Major retailers will accept Bitcoin
Big retailers including Whole Foods, Nordstrom, Crate, and Barrel have nodded in acceptance of Bitcoin. In fact, they are willing to adopt digital money as the sole mode of payment.
In a press release, Tyler Spalding, CEO of Flexa, said,
“This is the first real instance of decentralized global retail payments, with the power to make commerce more efficient and accessible for billions of citizens globally.”
A real-time network by Flexa: SPEDN
SPEDN is a joint effort between Flexa and Gemini. While Gemini handles the back end, Flexa provides a real-time network to carry error-free transactions.
In appreciation of the digital move, Tyler Winklevoss, CEO of Gemini, said:
“This technology shifts cryptocurrency from investment and speculation toward real usability. You can finally buy a cup of coffee with cryptocurrency and a tap of your phone. This moves the broader ecosystem closer to realizing the full promise and power to crypto.”
Big retailers are maintaining a low profile until the projected deal works out. However, the talks of this deal itself are proof that a big shift is around the corner.