The Singaporean blockchain firm Pundit X made a huge announcement for the crypto enthusiasts – they have officially integrated the support of PayPal for their point-of-sale device, the XPOS.
PayPal is the first major mobile payment gateway to be incorporated with XPOS. As a result, this will allow users from over 30 countries to engage in transactions through this payment processor.
The complete integration will be conducted in two separate stages. For starters, XPOS merchants in the US will have to claim the ability to use PayPal-based keyed transactions. The application procedure was launched on July 1, 2020.
Pundi X expectations are that within a two-week period, all the XPOS devices will be integrated with the PayPal app, completing the integration process.
It is worth noting that the initiation of this process was a product of popular will. Pundi X conducted a poll on their Twitter page, asking which should be the first mobile app that should be integrated with XPOS.
The poll had a wide pool of payment providers, including Alipay, GoPay, and WeChat Pay among others. Ultimately, however, PayPal reigned supreme over all others gathering 70% of the overall vote.
As a consequence of this integration, Pundi X will upgrade its point-of-sale system adding the possibility for credit card payments. This will enable the purchase of cryptocurrencies from PayPal, while backing the XPOS platform and clients in the process.
Zac Cheah, co-founder and CEO of the Singaporean firm made a public statement on the matter. He highlighted the fact that incorporations with leading worldwide payment providers, will further drive the adoption of blockchain-based products and services beyond the range of the crypto community, into the public domain.
He noted that these integrations will increase the confidence of the public for the use of both the service providers and the XPOS devices. This drives the mainstream integration of cryptocurrencies and other blockchain-based technologies ever closer, Cheah argues.
These developments stand in as a dramatic shift of sentiment by PayPal, which has been shying away from crypto for around a decade. Recently, in contrast, PayPal has been seeking to employ blockchain engineers for engaging in “new initiatives”. It certainly looks like one of the biggest payment providers in the world has finally opened itself for the crypto.
