The benefit of Blockchain, the digital and distributed ledger system, cannot be overemphasized. The scope of its application transcends just the tracking of cryptocurrency transaction. It now forms the basis on which enhanced security and improved payment services are deployed. Going by the aforementioned, Financial Institutions (particularly, banks) have become forerunners in the adoption of new technology which addresses payment limitations by offering diversified payment options on a single deployable platform. It is on this front that Kinekt has emerged as a leader in the provision of a robust, multipurpose Point of Sale device which allow the spending of cryptocurrency on POS terminals by leveraging the power of blockchain technology and cloud services.

Making payment with cryptocurrency via a point of sale terminal. Executing payment on POS terminal with just fingerprint and PIN (without use of card). Transaction history built on blockchain which is accessible from anywhere at any time. Competitive charges and low transactional cost. Instant notification via SMS. Etc.

This is to mention but a few of the functions of the new emerging technology, which is championed by Kinekt, a fintech company from South Africa. It is utilizing the power of the Blockchain technology to create a “customer payment profile”. The technology has the functionality to integrate multiple cryptocurrency accounts and other third party card enabling platforms (such as Visa, MasterCard etc) into a single payment profile, which is hosted on distributed cloud servers across several locations for easy and secured payment. This emerging technology aligns to recent industry discussions which points to the future convergence of blockchain technology, cryptocurrency and banking, as blockchain continues its rally into mainstream adoption by financial institutions and individuals alike.

When it is fully deployed, customers will no longer have to carry along multiple electronic cards (such as Visa, MasterCard etc) to make payment on POS terminals on the go.

Risks such as card details theft, fraud and charge backs associated with the use of electronic cards are still prevalent. Thus, the all-in-one Kineck terminal addresses these challenges and more. By proposing a three prong solution, Kinekt terminals will make it affordable for mass market deployment of POS terminals and extend the footprint of digital payment, reduce the cost of transacting and ultimately promote a universal cashless society.

Kinekt technology can be said of to be the last piece to the puzzle which merges the prospect of blockchain technology, cryptocurrency and traditional banking into a superior digital payment platform.

By leveraging growing cards scheme which offer diversified cards payment services, banks and general financial institutions are constantly looking for the next generational revolution which address the limitation of Recent business use case of the Blockchain appear to be an area of particular interest for financial institutions.

Such area of interest to the Banks is the prime objective to grow its retail base through expansion of digital delivery channels at a relatively lower cost than the legacy modules currently operational.

Kinekt Terminals ICO will go live on may 1st commencing with Private sale and Pre-sales.

Visit our official website: kinekt.technology for more details.