PDX Global Launches Crypto-to-Fiat App: PDX Beam

PDX Global’s crypto-to-fiat application, PDX Beam, is now available on Apple’s App Store and Google Play, enabling 800,000 merchants to accept cryptocurrency.

According to a press release, PDX Beam has been integrated into the Clover payment processing network, allowing merchants within that network to use the app for cryptocurrency payments.

PDX Beam is the first direct crypto-to-cash payment platform tailored for merchants and consumers, accessible for both Apple and Google Play users.

With this app, users can pay registered merchants in cryptocurrency that converts directly to cash on the merchant’s side. This eliminates the need for intermediaries, such as trading platforms or banking charges, when accepting crypto payments.

Deployment and Transactions

PDX Beam can be integrated with any in-store or online point-of-sale system via a straightforward API. Customers generate a barcode for the transaction that the merchant scans. The payment is made in crypto, which is then converted into local currency without gas fees, effectively reducing the risk of chargeback fraud.

CEO Statement

CEO Shane Rodgers views the app’s launch on major app stores as a significant milestone. He noted that PDX Beam already boasts a large and growing base of on-click integrations, with plans for further expansion among users and partner merchants.

> “We expect to have additional major opportunities to reach both the huge number of consumers who want to use their crypto as well as the merchants who want to accept it as easily as they accept Visa, Mastercard, or Apple Pay,” stated Rodgers.

Market Insights

Research from Security.org indicates that by 2025, approximately 65 million people in the U.S. will own crypto, equating to 28% of American adults. A Deloitte survey found that 85% of merchants anticipate crypto will be used for daily transactions in the coming years.

Last December, PDX Beam completed its testing and claimed readiness for live public beta testing. The platform was able to perform transactions within 30 seconds, with expectations to achieve 15 seconds or less upon official launch.

Related: KuCoin launches new crypto payment solution for merchants.