3D-Printed PEY Terminal Sought to Power up to Fifty Merchants in Hanover

A 3D-printed, NFC-capable terminal may be the future for bitcoin payments in Hanover and its version of Bitcoin Boulevard. A

A 3D-printed, NFC-capable terminal may be the future for bitcoin payments in Hanover and its version of Bitcoin Boulevard.

A German entrepreneur, Ricardo Ferrer Rivero, has created the PEY terminal to make bitcoin payments more convenient for in-store shoppers and easier for merchants.

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The entrepreneur runs the Edelstall co-working space. His idea was born when he was looking for local merchants where he can spend his bitcoin.

The device is an add-on that uses iBeacon technology, which helps notify iOS devices of its presence. Thus, it communicates to prospective shoppers the presence of terminals in their vicinity. When a purchase is made, the transaction is sent via near field communications (NFC) technology.

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BitPay is the payment processor, itself already having launched its iteration of NFC payments in November.

A dozen merchants, including a bakery, supermarket, travel agency, hair salon, café, restaurant, burger bar and a pub, are already accepting bitcoin thanks to the terminal. Another 38 have reportedly agreed to join, which would put Hanover on a similar playing field as other “Bitcoin Boulevards” in Europe and beyond.

In order to make the technology more widely accepted, development is ongoing to make it available for Raspberry Pi.

Rivero also wants to have a bitcoin ATM installed in the city and is reportedly working with Lamassu.

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