Point of sale technology service provider Givex will enable its merchants to accept bitcoin payments through a partnership with Bitpay.
Toronto-based Givex’s Vexilor proprietary POS system includes inventory control and purchasing modules, embedded marketing, data analytics reporting suite, cloud-based portal, and customized POS tablets and data storage hubs.
Customers make payment by generating a QR code using their smartphone and having it scanned by the merchant’s Vexilor tablet. On the merchant end the exchange is in real time, payment approval occurring on the POS.
Nine currencies, including the U.S. and Canadian dollars, are accepted by Bitpay and Vexilor. Direct deposit is available in 33 currencies. The POS is Europay Mastercard and Visa ready system, thus accepting bitcoin currency will make the service more versatile.
Atlanta-based Bitpay is a provider of bitcoin payment integration, with solutions that include APIs, 7 ready-made libraries, plugins for 22 e-commerce solutions, and instant integration into the more popular e-commerce web services.
Founded in 2011, Bitpay has raised $32.5 million in three rounds from investors that include TTV Capital, Felicis Ventures, Founders Fund, Horizons Ventures, Jerry Yang and Richard Branson. Seed investors include actor Ashton Kutcher, Facebook software engineer Ben Davenport, SecondMarket founder Barry Silbert, CoinDesk founder Shakil Khan, Bit Angels partner Roger Ver, bitcoin entrepreneur Trace Mayer, among others.