Cryptocurrencies have been dominating e-commerce now. For the past few years, it has turned out to be a major attraction for all the retailers who now seem to have retargeted their marketing towards the cryptocurrency owners.
GeniePay offers various payment solutions for SMEs and other small businesses to quickly accept cryptocurrency payments rather than hovering around conventional payment solutions.
The company wrote in a recent blog post, “We’re creating a framework for the next generation of internet, designed to facilitate “on-chain” payments both online and offline.”
The Lightning Network technology behind GeniePay enables businesses to accept bitcoin instantly with extremely low transaction fees. Stablecoin settlements and assured-value transactions enable merchants to enjoy all the benefits of crypto payments minus the volatility,
continued the post.
GeniePay setup has three main products:
- PoS terminal
- Online Merchant Payments Framework
Bundled together, these services let retailers accept cryptocurrency as a payment method from the customers within a seamless means.
Let’s discuss some features of the software:
The point of scale terminal, GeniePay, enables acceptance of cryptocurrencies as a means of payment around retail locations. It has a simple mechanism of integration with almost all kinds of business infrastructures at no cost.
The huge display lets merchant’s employees make and handle payments instantly and effortlessly. Payments information emerges over the terminal screen with a receipt that can be transferred to the consumer through mail or print.
GeniePay App and e-wallet
Besides bank cards, the consumer can include any digital resources within the app. GeniePay’s integration with the exchange, lets it operate ordered financial management as well as interoperability of fiat currencies.
The GeniePay Wallet has been designed to be secure with private keys stored inside the encrypted containers over the device of the user, which can be decoded with a private seed phrase only.
GeniePay Payment System for merchants is the first fully tailored solution for the needs of online retail businesses, that efficiently manage their fiat as well as crypto payment undertakings through a single-window dashboard.
It features an easy-to-use interface that enables merchants to picture and track electronic payments as well as orders.
Reduced volatility with stablecoins
It harbors highly customizable withdrawal and conversion techniques to reduce volatility as well as the negative liquidity hazards of supporting crypto payments.
QR code and card payment support
Clients can make online payments with any crypto or fiat currency by scanning a QR code, or via secure card payment form integrated into the merchant’s online order page.
GeniePay alpha launch is planned for 31st December this year, with several more integrations as well as partnerships following in 2020.