Flexa : Digital Payments
Flexa is the New York City–based fiscal technology ( FinTech ) party building the future of payments by solving the problems of friction and high requital costs for both merchants and consumers. For merchants, Flexa offers a variety show of payment integrations and plug-ins to enable digital asset toleration using existing point-of-sale ( POS ) hardware and software. Flexa offers app developers a drop-in software development kit ( SDK ) that can seamlessly unlock the respect held in everything from digital wallets to loyalty apps — and beyond. For consumers, Flexa supports dozens of digital currencies — including cryptocurrencies, tokens, and digital dollars — for payment at thousands of stores throughout the United States and Canada — including Nordstrom, GameStop, Lowe ’ second, and Petco. Flexa has a mission of finally enabling digital asset payments for any app, using any currency, at any storehouse around the world .
How the Flexa App Works
When it ’ sulfur time to make a purchase, your app generates a alone barcode called a “ flexcode, ” which participating retailers can scan to authorize and guarantee your transaction instantaneously. Flexa then pays merchants in either convertible virtual currency or their decree currency of choice. meanwhile, Flexa ’ s Spend SDK deducts the equivalent total of crypto ( for example, bitcoin or ether ) from your digital wallet within the app.
Flexa ’ second clamant payment authorizations are made potential via Amp — the network ’ s native nominal — which was co-developed by Flexa and ConsenSys. As a fixed-supply, Ethereum-based ERC-20-compatible keepsake, Amp works deoxyadenosine monophosphate crowdsourced collateral to wholly decentralize requital risk, rewarding those who provide collateral with even more ampere tokens for every successful payment transaction. Anyone can venture Amp toward apps on the Flexa crypto network, and any Amp tokens staked can be locked in real-time to secure payment transactions while they await confirmation. In this way, Flexa can immediately guarantee payouts in any currency and directly extend the benefits of Distributed Ledger Technology ( DLT ) to merchant–consumer payment interactions .
Flexa : Crypto Adoption IRL
The Flexa model benefits both sides of a transaction. For crypto holders, Flexa brings digital assets to the very world, further establishing the credentials of cryptocurrency as money and unlocking respect in the form of straightforward tender for goods and services. For merchants, the many advantages of Flexa include reduced costs, faster colony, elimination of fraud, and access to the growing crypto market.
In the United States, around 86 % of retail payments happen offline in physical stores. Capturing significant market parcel for cryptocurrencies among those requital transactions has been the key to mainstream adoption. however, most attempts at enabling retail digital payments have created challenging user experiences and ignore myriad merchant requirements. Along with growing public adoption of digital assets as currentness, there are a few keystone implementations that make Flexa the most promise approach for successfully integrating digital currencies with physical retailers.
first, Flexa is an entirely merchant-focused payments chopine. Flexa incorporates familiar technologies such as backwards-compatible barcodes, ISO 8583 message, and closed-loop requital rails, while abstracting away the regulative difficulties of cryptocurrency handling — efficaciously eliminating customs IT cultivate and conformity obligations as hurdles to crypto payments adoption. Flexa ’ s wide variety of plug-ins and integrations often remove respective of the traditionally entrench middlemen in a requital transaction, drastically reducing the cost of acceptance while making payments faster than ever before. second gear, Flexa approaches payment fraud from a wholly new perspective. Global imposter losses from requital circuit board transactions could surpass $ 12 billion USD in 2021 because of baffled or stolen cards, forge, and passing during card-not-present transactions such as on-line purchases. Flexa ’ s proprietary flexcodes are alone to each purchase, enhancing security while maintaining complete user privacy. Since distributed networks are used to validate transactions alongside a fresh approach to decentralized payment collateralization, traditional types of payment fraud are plainly no longer possible .
Can Flexa ’ randomness Crypto and Digital Payments App Scale ?
Flexa has seen remarkable emergence over the past several years, and has emerged as a lead digital payments platform. Flexa ’ second digital asset-to-fiat bridge is something that many in the blockchain industry have envisioned as key to the technology ’ south real function and success. On the Flexa crypto network, payments are made promptly, securely, and with the lowest fees, ultimately providing merchants with a meaningful, useable, and valuable option to traditional payment networks. Where we may have once dreamed about using cryptocurrency to buy an ice cream cone or the latest edition of Grand Theft Auto, Flexa is making that sight a reality — and opening up a wholly new populace of utility for the asset class .