PDX Global, a leading name in digital banking, is set to launch a live beta test for PDX Beam, an innovative platform designed to convert thousands of cryptocurrencies into fiat and facilitate cash transactions within seconds.
PDX Beam aims to revolutionize the payment landscape as the first comprehensive payment transaction process and crypto-to-cash payments platform available to merchants and consumers. After completing an extensive testing phase, PDX Global announced that the platform will be ready for public beta testing on December 19.
The recently released information highlights that PDX Beam will enable users to execute instant crypto-to-cash settlements directly on a blockchain-based platform, eliminating the need for traditional intermediaries such as banks or credit cards. Once available to the public, users will benefit from bypassing banking fees and delays, allowing them to convert cryptocurrencies into cash rapidly.
To use PDX Beam, users simply register and link their secure digital wallets. The app allows for seamless crypto payments both in-store and online, converting cryptocurrency into local currency after covering the necessary gas fees for network use. Notably, the app does not require users to have a special exchange account to complete transactions.
For merchants, PDX Beam streamlines the acceptance of cryptocurrency payments without needing to manage a crypto account. The platform integrates effortlessly with existing point-of-sale systems and business software, readying itself to support marketplaces like Clover and Shopify for both physical and online purchases.
By effectively bridging the gap between cryptocurrency and traditional currencies, PDX Beam enhances the viability of cryptocurrencies for everyday transactions.
Following five years of rigorous development, recent testing has confirmed that the platform can execute live end-to-end payment transactions in under 30 seconds. The team anticipates that by the time of launch, transaction times will be reduced to just 15 seconds.
Shane Rodgers, CEO of PDX Global, asserted that many merchants are under the misconception that substantial investments are required to accept crypto payments. With PDX Beam, merchants can easily integrate the app into their existing systems through any POS terminal equipped with an API or QR scanning capabilities, without incurring additional expenses.
“Merchants can choose between same-day ACH or real-time instant settlement, significantly cutting fees compared to conventional debit or credit card transactions,” Rodgers added.
A recent survey indicated that approximately 85% of U.S. merchants foresee cryptocurrencies being adopted for everyday payments in the coming years. Furthermore, as of 2022, around 2,352 businesses across the U.S. had already begun accepting Bitcoin (BTC) as a payment method.
