On Wednesday, October 30, Cred and the Universal Protocol Alliance held a private event in Emeryville, California, to unveil Cred Merchant Solutions and celebrate SF Blockchain Week. The event drew in local elected representatives, such as Emeryville Mayor Ally Medina, Berkeley Mayor Jesse Arreguín, and Berkeley Councilmember Ben Bartlett.
Dan Schatt, Cred CEO and co-founder, unveiled Cred Merchant Solutions, a new point-of-sale app utilizing the Poynt handheld terminal that supports the unbanked, underbanked and poorly banked around the world. The Android-based terminal will be deployed to businesses at cost and help them quickly pay taxes, dramatically lower transaction fees and reinvest money back into the business.
“The terminal you see before you allows you to pay with any crypto wallet utilizing Bitcoin Cash, and the payment ends in the merchant’s account in real time. The merchant can earn 10% and they can borrow against it. It’s like the future of financial services in a box.” – Dan Schatt, CEO and co-founder of Cred.
CMS will support businesses like the $2 billion California cannabis industry. Because of federal banking regulations that currently deem cannabis sales as illegal activities, dispensaries do not have access to traditional banking and are left exposed to extra security risks. Cred Merchant Solutions converts a customer’s payment in crypto that is then loaned out to businesses around the world, while merchants instantly get the cash sales equivalent and governments get their cut of the taxes, Schatt told an audience of about 100 attendees at SF Blockchain Week.
Berkeley’s Bartlett also announced that he’s sponsoring a city plan to let businesses deploy CMS for tax collections and that he will work to enact similar legislation statewide so that California serves as a harbinger for others on tackling the problem of cash-intensive businesses.
Bitcoin.com‘s CFO Natalia Ra was also on hand to use the Merchant Solution and pay with Bitcoin Cash. Natalia is responsible for driving the company’s strategic objectives via finance as well as overseeing all corporate legal and structural aspects. She is passionate about organizational transformation and driving high performing, high-value cultures. Cred’s partnership with Bitcoin.com is stronger than ever, and we have integrated Bitcoin Cash as the exclusive cryptocurrency payment option in our Merchant Solution.
Cred Merchant Solutions provides a revolutionary new way to use blockchain. It is faster than Square, fairer than Visa and friendlier than Chase.
- Customers are enabled to pay the way they want.
- Merchants can earn, borrow and save.
- Local governments receive real-time tax revenue.
Watch the video of the event now: