What Is Flexa?

Flexa, established in February 2018, is a leading “pure-digital” settlements network. It declares to “offer vendors and developers with simple combinations for digital money acceptance that are fast, cost-effective, and fraud-proof.”

Flexa claims it is “the very first network to provide transactions that are 100% digitally secured from source to negotiation,” which “unlike a conventional financial institution or payment card purchase, Flexa payments do not entail sending any delicate consumer account information; with the network.” Instead, “each Flexa transaction begins and ends with a unique, digital authorization code that can’t be decrypted or turned around.”

Since Flexa incorporates straight with suppliers’ present payment software application and hardware stack, there’s no requirement “to acquire any kind of additional equipment.”

On 13 May 2019, Flexa revealed the launch (in North America) of support for cryptocurrencies.

Here is Flexa discussing its technique:

“So, rather of bolting cryptocurrency payments on top of debit cards, we took the opposite technique. Over the previous year, we’ve constructed brand-new connections with 10s of countless merchant point-of-sale terminals nationwide, to bypass the existing payments facilities and push cryptocurrency-based payment permissions straight to merchants in your place.

“We call these payment permissions ‘flexcodes,’ and beginning today, you can utilize them at a few of the most significant and most positive brand names on earth, each of whom were thoroughly curated to integrate costs from every sector. We’re simply beginning, and currently you can invest your cryptocurrency on whatever from clothing to home entertainment and in between.“

Flexa’s post went on to state that it had actually established a mobile app called SPEDN (in the beginning simply offered for iPhone) for “the numerous cryptocurrency owners that want to experiment with the future of repayments.”

Flexa likewise took this chance to present its “new partnership with Gemini, a controlled and also safe cryptocurrency exchange and custodian based below in New York City” along with stated that this partnership with Gemini suggested that “every SPEDN budget is firmly custodied and fully insured on Gemini’s NYDFS-regulated framework” which It is “able to include the Gemini buck — the world’s very first, regulated, dollar-pegged stable coin– to the Flexa network, to ensure that you can spend cryptocurrency without worrying about volatility.”

At that time, just 4 cryptocurrencies– Bitcoin ($ BTC), Ether ($ ETH), Bitcoin Cash Money ($ BCH), along with the Gemini dollar ($ GUSD)– was continual “at any of the sellers currently accepting payments on the Flexa network.” At that time, 30,476 shops were accepting Flexa payments.

According to a report released by Cointelegraph on 13 Might 2019, Tyler Spalding, Flexa’s co-founder, informed Agreement visitors that “Spedn’s objective is to make cryptocurrencies spendable everywhere while making certain vendors receive settlements specifically like they did before.” and to streamline the procedure of making crypto payments in brick-and-mortar shops, Flexa offers might be made in 3 actions: “including crypto to the Spend pocketbook, tapping a sustained brand name and scanning a code.”

“If you desire to purchase some food, or possibly you desire to go store in the home entertainment classification, or possibly you likewise simply desire to discover something for your house, or possibly some clothes or devices, all of these merchants are now survive on the Flexa network since today.“

Flexa Adds Support for Cardano (ADA)

Well, on Friday (December 17), Flexa revealed that as part of its “25 Days of Flexa” job, it had actually chosen to launch support for $ADA, the native token of the Cardano network, suggesting that $ADA can presently be used to pay at over 40,000 locations in the U.S.

On November 23, Regal, which is “a subsidiary of Cineworld Group as well as the operator of one of the biggest as well as most geographically diverse theater circuits in the USA,” revealed that it had really “partnered with Flexa, the leading pure-digital payments network, to unlock access to digital money settlements for patrons around the world.”

Regal’s press release went on to state that:

“Via the Flexa network, Regal is authorizing these new currencies in a safe, credible, along with depended on methods. In addition, Flexa’s guaranteed settlement, versatile mix options, fraud-proof style, and breadth of cash and settlement options repair withstanding challenges and elements of friction that are currently hindering the comprehensive promoting of digital possessions.

“In theaters, Flexa is functioning to aid Regal to enable far better settlements for as various properties and throughout as several procedures (including the Lightning Network) as possible. For instance, when paying at Regal with Flexa-enabled apps, visitors will soon have the choice to link their Regal Crown Club loyalty to represent unique rewards.”

Ken Thewes, Principal Marketing Policeman at Regal, had this to state:

“Regal adheres to being ‘The Best Place to Enjoy a Movie.’ As more of our customers require digital belongings treatments and much more secure payment techniques, we are grateful to have actually found a buddy in Flexa. This company is reinventing digital payments with innovative software application applications and an ingenious organizational system.

“This interesting collaboration allows us to quickly and flawlessly approve electronic money– including dogecoin, stablecoins, and also bitcoin– across our theater impact in a simple and completely contactless means, offering our guests with the flexibility and safety and security they are worthy of as we start a new period.”

And Also, Trevor Filter, co-founder of Flexa, consisted of:

“Flexa adheres to assisting merchants to make it possible for a lot easier, quicker, and more secure settlement choices for their customers, which’s just among the elements we’re pleased to handle Regal, whose commitment to establishing a wonderful and typically offered movie experience for their faithful customers is 2nd to none.

“We’re pleased to partner with Regal as we work to allow global electronic money settlement options for flicks and also even more, and aid brings the future of repayments to a movie theater.”

Disclaimer

The views and viewpoints revealed by the author, or any individuals discussed in this post, are for informative functions just, and they do not make up monetary, financial investment, or other guidance. Investing in or trading cryptoassets features a danger of monetary loss.