A United States (Seattle) merchant is seeking to boost the local cannabis business forward from cash-only payments by using the virtual currency instead.
The aptly-named POSaBIT as of today has been installed at six outlets in the Washington State capital, with several others beyond.
How POSaBIT Works
POSaBIT system allows customers use their credit or debit card to buy Bitcoin, which is then used to pay for goods at the point of sale.
The service monetizes its features by charging a $2 flat fee per transaction, with an upper purchase cap of $150 the reason for this charges is to limit any exposure to Bitcoin abuse.
Finally, POSaBIT means Washington is involved in the footsteps of neighboring Oregon, which gained a
sanctioned Bitcoin-based cannabis purchasing solution from First Bitcoin Capital last October.
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