Pundi X, a blockchain payment solutions provider, and MakerDAO, the creator of Dai, the first decentralized stablecoin based on the Ethereum blockchain, today announced the launch of the Crypto Merchant program.
Qualified merchants will receive a free XPOS crypto-payment processor device to empower their businesses to accept cryptocurrency transactions.
XPOS is a blockchain-based point of sale mobile terminal, offering instant in-store payments and sale of Dai, bitcoin, ETH, NPXS, and other popular cryptocurrencies. Transaction amounts can be automatically settled in Dai, which is soft-pegged to the US Dollar, which enables merchants to process crypto transactions without worrying about volatility.
The Crypto Merchant Campaign, the latest campaign resulting from the partnership between MakerDAO and Pundi X announced last year, now officially begins in Brazil. The goal of the effort is to empower more merchants to adopt crypto and popularize the use of Dai.
To apply, merchants must have a valid CNPJ (an identification number issued to Brazilian companies by the Department of Federal Revenue of Brazil) and a physical (brick and mortar) store. Photos of the store must be provided.
The selection process requires the verification of the information submitted and photos of the establishment. It is also necessary to send basic information about the merchant’s business, such as the address and its CNPJ number.
Once the information provided is verified and the application accepted, the merchant will be asked to deposit of R$100.00, which is required to begin crypto sale transactions. The crypto merchants will then be able to enjoy a 2% commission on crypto transactions.
100 XPO terminals are available for free to the Brazilian market, and another 650 to Latin American countries, including Argentina, Venezuela, and Colombia.