Problem statement
So far, POS systems were being built using custom hardware, making them costly and less flexible. A new trend is emerging now. Business owners have started using tablets and smart phones as their POS terminals. PlusBit POS is an app based on Android platform, used by merchants and vendors for processing cryptocurrency payments. Make your tablet or smart phone Point-of-Sale (POS) system with PlusBit.
PlusBit is designed for merchants to be able to accept GBX quickly, easily, and securely. In order to further adoption of GBX we need to make it easy for merchants to accept it as a form of payment. This system will enable them to do so.
PlusBit eliminates the involvement of a third-party processor, allowing merchants to accept payments directly from their customers within seconds, in a secured and trustless environment. The deployment of the PlusBit POS system is anticipated to bring blockchain-enabled payment technology to the mainstream, while keeping the transactions seamless and cost-free.
Unlike custodial processors, PlusBit does not store or withhold any funds of merchants. It is an entirely P2P payment solution, with the convenience and benefits of a payment processor. PlusBit does not have access to merchant’s private key and money goes directly to their cold wallet.
Moreover, PlusBit doesnot get any fee from transactions. There is no monthly fee for merchant. PlusBit is completely free mobile Point-of-Sale app for everyone.
Why use this instead of a mobile wallet?
One of the main reasons a merchant would use this app over the standard mobile wallet would be to have an experience they are familiar with. It has been designed to be very closely related to credit card processing machines in this respect.
The main reason however, besides ease of use and familiarity, is the fact that this terminal is not a wallet. Several factors to consider;
- PlusBit only generates the payment requests to a wallet that the merchant controls on a different machine. This means that there is no control of the coins from the POS software. This situation works especially well when you have employees that may access this machine as well.
- Keeping your private keys offline is always a bonus!
- Your wallet may need time to sync.
- Unlocking wallet in front of customers is not safe.
What are the features?
- No need to purchase hardware , convert smartphone or tablet to POS device
- PlusBit does not get any fee from TXs
- There is no monthly fee for users . PlusBit is a free mobile Point-of-Sale app.
- Supports Multilanguage (en, es, tr, de).
- Supports 12 fiat units
- No KYC
- No registered account
- No control of the coins from the POS software
- PlusBit does not hold or store your coin ad private key. You have immediate ownership and full control of your money.
How It Works?
- Connect your business wallet address to app, which is where you’ll receive payments.
- Enter sale amounts in your local currency and have them converted to an amount in crypto. A QR code will then appear for your customer to scan using their own personal wallet.
- After your customer pays, an on-screen verification will pop up. The payment will then land in your business wallet. You can watch your balance information also.
Are there features planned beyond this release?
- Invoice history (Q1/2020)
- Invoice printing (Q1/2020)
- New language support Q1-Q2/2020)
- New currency conversion support Q1-Q2/2020)
- Works on iOS (Q2/2020)
- Pin protection (Q2/2020)
- NFC payments (Q3/2020)
Schedule
What is the timeline for integration into PlusBit?
Expected timeline for implementation is over the next 1 month.
Budget and justification
How much development cost, and what will the cost breakdown?
As a PlusBit company, we never get fee from transactions. Also there is not monthly/annual cost for merchants. The app will completely become free for everyone. This means PlusBit doesnot get any revenue. However, there is developer cost for us. So, we ask this fund from coin teams or community donation.
As a conclusion, what is the cost that you need to cover in order to go ahead with PlusBit app for coin?
Developer compensation: 13350 GBX (This is one time payment at the beginning and covers all the further developments, updates and maintenance).
Other Partner Projects
- Reddcoin : https://play.google.com/store/apps/details?id=net.cit.redd_coin
- Litecoin : https://play.google.com/store/apps/details?id=net.cit.lite_coin
- Zcoin : https://play.google.com/store/apps/details?id=net.cit.z_coin
- ZERO : https://play.google.com/store/apps/details?id=net.cit.zero_coin&hl=en
- HTMLCoin : https://play.google.com/store/apps/details?id=net.cit.html_coin
- Safecoin : https://play.google.com/store/apps/details?id=net.cit.safe_coin
- DigiByte : https://play.google.com/store/apps/details?id=net.cit.digibyte
- DASH : Not yet released
- ILCoin : Not yet released
- BitCore : Not yet released
- BitcoinZ : https://play.google.com/store/apps/details?id=net.cit.bitcoinz
For enquiries & support
- Website : https://plusbit.tech/
- Telegram : https://t.me/PlusBitPos
- Twitter : https://twitter.com/PlusBitPos
- Email : info@plusbit.tech; business@plusbit.tech
- Discord : https://discord.gg/9dXnmCz
Find out more about PlusBit at our website here: https://plusbit.tech/