Partnership With Cyclebit: FOIN Is Accepted at 200K+ Points of Sale Globally

FOIN Official
Sep 30 · 3 min read

The first week of October is expected to be exciting. It’s really the beginning of the new era for the whole FOIN community. Today we are delighted to announce our strategic partnership with Cyclebit, a crypto POS terminal provider.

FOIN Is Acceptable by Thousands of Merchants

What does it mean? Cyclebit, as a crypto payment solutions provider, aggregates more than 200,000 crypto-capable POS terminals in Europe, Asia, and Canada. They work in stores, services, cafes, etc.

And now FOIN becomes available for payment at every Cyclebit POS terminal along with other top cryptos. It means that people around the world can spend their FOINs on everyday needs. This partnership is a great stride forward, which allows our community to use their assets for real-life payments in hundreds of local and international merchants.

Why Cyclebit?

Cyclebit’s unique feature is providing retailers with POS terminals supporting crypto and fiat payments as well as a solution for inventory management. It is made for retailers wishing to grow their opportunities and their customer community, by accepting crypto for real goods and services and selling digital assets in stores.

Cyclebit makes spendable crypto a new reality by bridging the gap between crypto users and small and medium businesses. It links customers, merchants, exchanges, and coin issuers creating a whole ecosystem. The network of retailers who use Cyclebit terminals is continuously growing: soon the project will be also launched in Germany, Italy, UAE, Korea, and Japan. Cyclebit team has managed to create a system that can support millions of transactions per month.

And now, FOIN and its community have become a part of this ecosystem.

More Features

The partnership with Cyclebit is not only about integrating FOIN into the payment system, opened for thousands of retailers.

It enables us to provide more valuable opportunities for the FOIN and FoPay community. For example, such as FOIN gift cards which can be used in crypto-friendly store with Cyclebit technology.

Moreover, we have prepared a special offer for the FoPay merchants, and this week we will make a special announcement of it.

How Does It Work?

Paying for goods through the Cyclebit POS terminal has the same advantages with common blockchain transaction: it’s fast, simple, secure, and private — including no intermediaries and data sent for the third parties. For the customer the process of paying with crypto is very much alike to the purchasing with traditional bank cards:

  • the customer chooses the product;
  • the price specified in fiat money is converted into the FOIN according to the exchange rate;
  • the customer pays with his cryptocurrency wallet;
  • the terminal prints the paper receipt;
  • the customer gets his buyings and the merchant — his money.
Above you can see a live payment via Cyclebit terminal in café in Ho Chi Minh City, Vietnam, where Cyclebit runs an extensive test program.

In a few days, we will publish a video showing the typical FOIN transaction using the Cyclebit terminal. You will see the simplicity and convenience of making purchasing with FOIN and Cyclebit. Subscribe to our social media channels not to miss a thing!

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We made a remarkable step in FOIN history by the hard work of the whole team behind the scene. But we won’t stop at this landmark, and soon you’ll hear more great news!

FOIN Official

Written by

FOIN — the decentralized peer to peer cryptocurrency for the finance sector. https://foin.io https://fopay.io

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