A large network of Spanish coffee houses Nostrum began to accept Bitcoin . The company collaborates with Cylcebit, a technology startup that seeks to help stores become “cryptocurrency conductors.”
The working ecosystem of Cyclebit is built through a partnership with IBox, a payment platform with an annual turnover of $ 1 billion.
Cyclebit hopes to make each trading terminal capable of accepting cryptocurrency payments. Sellers will be provided with a “ready-to-install, free customizable application for iOS and Android that will be able to accept payments from crypto wallet and banks”.
Cyclebit believes that this will open up new revenue opportunities for them and will increase loyalty. Integration protocols for online and mobile stores will soon be available, with each tool providing a convenient way for retailers to monitor and analyze completed crypto transactions .
The Cyclebit team claims that its infrastructure can ultimately help to reduce the volatility inherent in cryptocurrencies . This is due to the fact that simple methods of payment using cryptography will help make the transition from enthusiasts to a massive financial asset, with mass participation, thereby reducing fluctuations in rates.
The company also believes that cryptocurrencies, at least in their current form, are too complicated for most consumers. Cyclebit says:
“Our experience says that the basis of any successful solution is always simplicity and ease of use.
Thus, our approach is designed to change cryptocurrencies – to make their use simple, convenient and affordable for both commercial enterprises and for the mass client. ”