Jan 17, 2020
Gemini and Flexa Teamed Up with NCR at NRF to Demo Crypto Access and Payments
Gemini, NCR, and Flexa have teamed up to demonstrate frictionless cryptocurrency payments using the Gemini dollar, our U.S. dollar-backed stablecoin.
During this year’s National Retail Federation’s annual trade show—NRF 2020—Gemini joined NCR—the largest point-of-sale (POS) software vendor in the world—along with Flexa—the leading crypto payments network that enables users to natively spend their crypto—to demonstrate a technology to allow consumers to seamlessly acquire and spend Gemini dollars in-stores.
This technology intends to boost accessibility and adoption of crypto and ease crypto payments friction. The exhibit at NRF demonstrated how a user can acquire Gemini dollars for cash via NCR’s self-checkout kiosks and deposit them into a mobile wallet, similar to an ATM experience. Using NCR’s open API platform through NCR Emerald , the project enables customers to deposit and use Gemini dollars for in-store payment at check-out stations utilizing NCR POS systems with Flexa enabled.
In the US, accepting crypto payments is cheaper for merchants than both credit card processing fees and expenses related to cash handling. We believe that consumers will continue the migration away from physical wallets to digital wallets on their phones and in the future will benefit from pass-through merchant cost savings when paying with crypto.
Enabling consumers to convert their cash to crypto in-stores is a critical step to remove barriers to entry for everyday consumers to benefit from the advantages of cryptocurrency, the convenience of digital wallets, and cheaper payments.
If you are a merchant interested in incorporating cash-in and/or crypto payments, please email firstname.lastname@example.org. More information about our joint technology exhibited at NRF can be found in NCR’s and Flexa’s respective blog posts.
Onward and Upward,