What You Need to Know:
- KuCoin has introduced a point-of-sale system that enables customers to pay merchants using cryptocurrency held in their KuCoin accounts.
- Users can transact with 54 different cryptocurrencies, including Bitcoin, Ethereum, USDT, and USDC.
KuCoin has unveiled a new feature allowing merchants to accept payments directly from customers’ accounts on the crypto exchange. This function, named KuCoin Pay, allows customers to make payments by scanning a QR code or utilizing the KuCoin app.
The launch of this service aligns KuCoin with other crypto payment providers aiming to facilitate direct customer-to-merchant transactions and integrates cryptocurrency into traditional payment systems.
In August, another notable digital payment platform, Flexa, also introduced a similar product, partnering with retailers like Chipotle and Regal Cinemas to enhance crypto payment capabilities.
The new payment infrastructure supports the major cryptocurrencies addressing the growing demand for crypto transactions. Several merchants are set to implement this feature starting in January, although their identities remain undisclosed at this time.
