Retailers in Hong Kong will start accepting bitcoin payments from end of August. Tourists and business travelers will be able to pay wit cryptocurrencies for meals and drinks at cafes and restaurants that use the new Pundi X POS device.
According to the South China Morning Post, customers will be able to pay with various cryptocurrencies through the Pundi X POS device that is has been put to the test during the summer months. The terminal is an electronic device used to process card or electronic payments at retail locations. The device can be used together with a cryptocurrency payment card that can be topped up with cryptocurrencies such as bitcoin and ethereum.
Pundi is an Indonesian start-up that labels itself the ‘Wal-Mart or 7-Eleven of cryptocurrency’. The company says it is on track to deploy some of its 5,500 POS units in Hong Kong. Retailers that accept bitcoin payments go against the policy of the Hong Kong Monetary Authority, which has stated that bitcoin does not qualify as a means of payment or electronic money.
Further reading on scmp.com