Largest department store in Venezuela installs Pundi X crypto payment terminals

Traki, Venezuela’s largest chain of department stores, is now the first chain store merchant to implement XPOS, Pundi X’s blockchain-powered point-of-sale device, across its 49 stores around the country.

Through the XPOS, Traki customers are able to use various cryptocurrencies as payment options for the retailer’s products, such as Bitcoin, Ether, Binance Coin, DAI, XEM, KCS, KNC, and Pundi X’s own tokens, the NPXS and NPXSXEM.

The XPOS thus gives Traki’s customers a more secure and more seamless transaction option than traditional fiat currencies. All the transaction fee will be paid in NPXS and NPXSXEM.

“At Traki, we aspire to offer the most convenient options for our customers, and cryptocurrency has proven to be an effective payment solution. This partnership with Pundi X solidifies our commitment to make cryptocurrency as easy to use as fiat currency in our stores.”
– Michael Gomez, Chief of Crypto Assets department of Traki

Venezuela

Venezuela is among the countries with the highest volume of crypto assets transactions. There are more wallets that have been activated and used for the purchase of goods and services. Factors such as hyperinflation and lack of cash makes cryptocurrencies a necessary form of commercial trade, and a perfect way to protect the value of liquid assets.

“With this recent partnership with Traki, we are beginning the execution of an ambitious plan that includes the introduction of the revolutionary Pundi X Platform, XPOS, and XPASS in businesses connected to people’s everyday life, such as food and beverages, supermarkets, pharmacies, tourism, health, among others. Soon we will see more announcements from Pundi X in Venezuela, as well as, key partnerships that will benefit all users and merchants.”
– Gabriel Falcone, representative of Pundi X Venezuela

Pundi X Ecosystem

With the installation of the XPOS devices, Traki is now part of Pundi X’s global payment ecosystem. Close to 300,000 registered users of the XWallet, Pundi X’s mobile crypto wallet, as well as holders of the XPASS, Pundi X’s physical transaction card for crypto payments, will be able to transact with Traki through their crypto assets.

“Traki has been one of the early adopters of cryptocurrencies in Venezuela, which highlights its commitment to improve the traditional financial system. We hope the XPOS further expands the crypto use cases that customers have come to expect from Traki.”
– Zac Cheah, Co-founder, and CEO of Pundi X

The company joins other merchants present in over 25 other countries around the world, including Australia, Argentina, Brazil, Colombia, France, Germany, Spain, Singapore, South Korea and more.

For Traki, this is the latest of many partnerships it has made with blockchain-enabled companies. The retailer has been constantly described as one of the biggest and earliest adopters of cryptocurrencies in Venezuela, paving the way for mass adoption of blockchain technology in the country.