OPENPOS :: Smartcoins Point Of Sale (POS) & BitShares Wallet for Android/iPhone

[yvv]

Yes, the Smartcoin POS can handle regular debit and credit cards PLUS all major Smartcoins ranging from BitShares, Bitcoin to Doge and Litecoin. Most Bitcoins POS where not successful due to BTC price volatility. I am convinced we can change that with BitShares Smartcoins.

Merchants can also issue their own tokens, like giftcards, in few seconds. Think about it. A token fully baked by business. Customer preloads bitshares wallet with merchant's token, then go shop with discount. A win situation for both, merchant and customer.

[kenCode]

I'd like to give a special Thank You, a shoutout to @bitacer for correcting our Turkish translation!
https://docs.google.com/spreadsheets/d/1bUN9N6uIBEloXtWZNXJQ-xG6NaT57FA4sHOvkqRyGE8/edit?usp=sharing

THANK YOU BITACER!! :) +5% +5% +5%

[Chris4210]

Imo the Market fee of OPENPOS is a bit too high.

Market fee   2%

Isn't the fee for payment terminals or whatever their called, like 3%? I understand you have a business but the difference might not be worth it for merchants.

The merchant fees depend on the payment processor. They can range from 1-2% for each debit card transaction and 2-4% and more  for credit cards .

Many small stores in Germany do not accept debit cards as payment due to the high fees. We plan offer lower fees for our services, especially since we use Smartcoins bitEUR, bitUSD, or bitCNY as core currencies.

3. Is a POS for bts the key for stores to accept bts? Not actually. The key is a good commercial team to persuade corporations to do so.

This is not a POS for BTS. Merchants will never accept BTS. They will accept bitUSD, bitEUR etc, or issue their own tokens. Bitshares != BTS.

Yes, the Smartcoin POS can handle regular debit and credit cards PLUS all major Smartcoins ranging from BitShares, Bitcoin to Doge and Litecoin. Most Bitcoins POS where not successful due to BTC price volatility. I am convinced we can change that with BitShares Smartcoins.

[kenCode]

No complex software is involved, the key secret is how BitoEX persuade Famiymart to do so.

Let the competition do the persuasion. Over 50K businesses use the Odoo software, businesses like Cox Communications for example (they have millions of customers). Instead of trying to convince 1 corporation, I would rather provide options for 50K hungry businesses all at once, some whom of which are competing with each other. Hence, we kill 50K birds with 1 stone (in a sense).

[yvv]

3. Is a POS for bts the key for stores to accept bts? Not actually. The key is a good commercial team to persuade corporations to do so.

This is not a POS for BTS. Merchants will never accept BTS. They will accept bitUSD, bitEUR etc, or issue their own tokens. Bitshares != BTS.

[Akado]

Imo the Market fee of OPENPOS is a bit too high.

Market fee   2%

Isn't the fee for payment terminals or whatever their called, like 3%? I understand you have a business but the difference might not be worth it for merchants.

[麥可貓]

I was re-directed here by bitacer (https://bitsharestalk.org/index.php/topic,20780.0.html). Sorry in advance that  don't have a lot casual time now, so I make my point as concise as possible:

1. cell phone wallet is definitely worth doing. I still remember there was a project called limewallet that claimed to do so, but I cannot find any progress now
2. Speaking of POS, lets make this clear logically: "a POS for bts" does not equal to "commercial adoption of bts", but what we actually want is the later one, isn't it?
3. Is a POS for bts the key for stores to accept bts? Not actually. The key is a good commercial team to persuade corporations to do so.
4. Is a POS for bts necessary for stores to accept bts? Not actually. Check this out if you have not seen it:
https://medium.com/@digital654321/familymart-now-accpets-bitoex-s-bitcoin-wallet-to-buy-goods-b85c9bac78f2#.djc1n1g0g
a bitcoin exchange BitoEX teamed up with familymart to aceept bitcoin to buy goods by using the small machine 'famiport'. They just added a button for this next to buttons for buying game points or other coupons. No complex software is involved, the key secret is how BitoEX persuade Famiymart to do so.

Once again, Itruely appreciate the effort to make a cell phone wallet for bts, but as to the other one,  it is actually a commercial problem, not a programming problem.

[kenCode]

Does anyone here have a Blackphone 2?
I'd like to see if we can run the wallet app on that phone as well.
Allegedly, that Silent Circle phone runs a flavor of android called Silent OS.
Please let me know asap, thanx, ken

[abit]

Imo the Market fee of OPENPOS is a bit too high.

Market fee   2%

[kenCode]

You wrote "Funds are sent directly to the merchant's BitShares account (required)" ;
My only concern is if merchants will be receptive to this idea since they will need to receive payments to their bitshares accounts, and that seems to be a problem in terms  tax requirements. Over here where I am from every purchase I make there is VAT included and that tax has nothing to do with the merchant but tax authorities require merchants to hand over those taxes to the Internal Revenue Service. Hence , the merchant in this case acts as an intermediary tax collector.  Now, as merchants probably purchase inputs using fiat money receiving cryptocurrency as a payment might complicate their accounting procedure in terms of taxes. I would like to hear how this will be solved. It seems to me  that for the time being there is a need for an intermediary entity acting as the payer- like a teller serving  the bitshares ecosystem. Ken ?

Yes, we are requiring all merchants to have a BitShares account. Merchants have this same requirement if they want to process credit cards. Credit card merchant accounts are much worse though with their fees, gateway accounts, ssl certs and all kinds of other requirements. Smartcoins become the obvious choice for growth.

The moment funds are collected from the customer or wallet user, they are saved in the transaction history with a fiat equivalent (looked up in real-time via the DEx and CCEDK). Upon export, the merchants accountant can just look at the fiat equivalents coming in and doesn't need to know anything about how crypto works. No banks needed. I do it the same way in my personal expenditures of crypto. I always log the fiat equivalent at that moment in a spreadsheet so my accountant knows everything she needs to know for taxes, writeoffs, etc.

[bitacer]

I have a feeling that bitshares ecosystem will need something like a crypto bank offering this service to the crypto space. An account can be created for a participating merchant and when that account is paid for a product with crypto,  the crypto bank will pay the merchant in fiat.  Similar to Nano card , but in this case customer wont need a debit card but transactions will be taken care of by this intermediary crypto bank. At this stage there is still a need for an intermediary. Fiat money has banks serving it why doesnt crypto have its own banks ?

[38PTSWarrior]

Thanx guys!

All buy orders to his email or pm will reserve the day's lowest price for you, so please make sure you tell him how much you want to invest. I just sms' d him too. He has family in town so I know he is checking messages every few hours or so though. Thanx @abit and @38PTSWarrior :)

Thanks

[bitacer]

You wrote "Funds are sent directly to the merchant's BitShares account (required)" ;

My only concern is whether merchants will be receptive to this idea since they will need to receive payments to their bitshares accounts, and that seems to be a problem in terms  tax requirements. Over here where I am from every purchase I make there is VAT included and that tax has nothing to do with the merchant but tax authorities require merchants to hand over those taxes to the Internal Revenue Service. Hence , the merchant in this case acts as an intermediary tax collecting agent who is required to pass those taxes to the authorities.  Now, as merchants probably purchase inputs using fiat money receiving cryptocurrency as a payment might complicate their accounting procedure in terms of taxes. I would like to hear how this will be solved. It seems to me  that for the time being there is a need for an intermediary entity acting as the payer- like a teller serving  the bitshares ecosystem. Ken ?

[kenCode]

Thanx guys!

All buy orders to his email or pm will reserve the day's lowest price for you, so please make sure you tell him how much you want to invest. I just sms' d him too. He has family in town so I know he is checking messages every few hours or so though. Thanx @abit and @38PTSWarrior :)

[abit]

It's still Dec. 26 now, right?