Dspread Technology Inc, the largest Chinese developer of state-of-the-art mobile payment terminals and hardware solutions for global payment acquirers is announcing its strategic partnership with Cyclebit, the company that took upon itself a challenging task to make transactions in cryptocurrencies accessible and possible due to integration with POS terminals in the retail network.
Last week companies announced the start of a big strategic partnership. The goal is to deliver a comprehensive product set to cover the needs of commercial retail and cryptocurrency holders. Ultimately the end solution represents a series of affordable mobile payment terminals which don’t only support traditional card payments, but also enable cryptocurrency transactions anywhere with no additional integrations required. In the closest future, any mPOS terminal previously sold by Dspread could connect to the Cyclebit network and accept crypto payments. This is a huge opportunity for scaling up as Dspread terminals are widely used among businesses all over the world and the total amount of sold devices reaches 10 million units.
Commenting on the partnership, Dspread CEO Mr. Dongyang Zhang, said, «We are very excited about the upcoming alliance and we look forward to support digital currencies in this new era of technologies. We always seek to enhance our solutions to provide the best seamless experience. This is a great opportunity for us to do something truly big and global, especially these days when cryptocurrency payments are becoming more and more popular».
The new payment systems will soon be available to Cyclebit users across 200k retail points, gradually expanding on to the entire network. Dspread’s solid expertise in production and Cyclebit’s background of building successful processing, holding settlements and payments in fiat and now cryptocurrencies, makes it a great symbiosis for development and further expansion in Korea, America, Southeast Asia and Europe.
«Our main focus is to deliver accessible and affordable solutions for merchants, to accept and distribute cryptocurrency in all our terminals, in addition through our global partnership network. In the immediate future, we will remove barriers of traditional payments in the retail chain and make crypto payments a high % of the “share of checkout”. This strategic partnership will enhance customers’ ability to pay with digital currencies and provide world access to new means of payments, offered by progressive technologies such as blockchain. We are thrilled to leverage Dspread’s vast expertise to strengthen our proposition for the merchants,» says Daniel Bessmert CEO at Cyclebit.