Australian based blockchain payment business BitPOS has today launched its new bitcoin ATM machine at a merchant location in Sydney powered via its custom software platform and its unique BitPOS ID system enabled by its advanced software stack. The official launch took place over the Tuesday weekend. BitPOS founder Jason Williams stated that any individual who has a valid, active, and open account could now immediately purchase the cryptocurency at the ATM with Australian currency. Currently, BitPOS is partnered with many retailers around the world, including Woolworths, Aldi, New World, Target, Quicksilver, Tesco, and Woolworths. Click for more information
The Australian Launch Of The bitcoin ATM Machine – The service also serves as a merchant cash advance option
The official launch event marked the completion of BitPOS’s recently acquired European company Chainalysis and the integration of the new European merchant banking platform, which is used globally by several of the largest and most successful online retailers and companies. The company will initially only support the australian product. However, later it is planned to add several additional currencies from various countries.
The company is yet to announce the full list of participating retailers and businesses, however it has confirmed that retail stores in Sydney will be offering several different types of products. In addition to providing access to the new bitcoin ATM machine, users will also be able to utilize their current credit or debit card to make purchases at select participating establishments. The program allows users to spend their money through a secure online interface provided by the company. This is done using their current bank account, a special virtual credit or debit card, or a regular money transfer to their existing bank account. It is not yet clear how BitPOS will manage transactions once their beta testing period ends. Many experts in the field have predicted that the completion of this project will greatly benefit the Australian market, as well as other countries considering the adoption of the digital currency.
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