Unocoin, the first Bitcoin exchange in India, has launched a merchant point-of-sale app that enables online and offline stores to offer bitcoin payment options.
A Co-Founder of Unocoin, Abhinand Kaseti, said:
“Over the past year, our web traffic has increased by more than 500%! We added more than 6,000 users just last month alone, and our volume is skyrocketing. Thank you all for supporting us along the way.”
In order to bring bitcoin to the masses, Unocoin says it is now aiming to make it easier for physical stores and merchants in India to accept bitcoin, presently an unmarked territory in India.
The new mobile app is both available on Android and iOS. The Indian bitcoin exchange operator describes this as an “epic launch of the mobile merchant application”.
Unocoin promises merchants who sign up for the app no fees for installation, transactions, processing, and maintenance as well as zero bitcoin volatility.
To use the ‘Unocoin Merchant PoS’ app, Indian merchants need to sign up with Unocoin and get their account verified. Once done, they can install the Unocoin PoS mobile app and scan the QR code on the website to pair their mobile to their merchant account.
When a customer is willing to pay the invoice in bitcoin, the merchant just opens Unocoin PoS app and keys in the invoice amount and generates a QR code to accept bitcoin payment from the customer. The merchant can accept the bitcoin directly to their app or share the payment instructions over email or social media to get paid if the customer is not physically present at the same location. The merchant will have an option either to keep the payment in bitcoin itself or to get it converted to Indian Rupee (INR) and transfer the money to the merchant’s bank account “the same business day.”
“Making Money Simple is the next big thing, today anybody can accept payments within a flash downloading Unocoin Pos app.”