London-based startup Plutus is developing a mobile app that will allow bitcoin payments at contactless payment terminals all over the world. The technology is powered by the Ethereum platform and is destined to work at all NFC-enabled payment terminals in the world, even if the merchant hasn’t enabled Bitcoin as a mode of payment.
Plutus has announced a new application which will enable Bitcoin adopters to — in essence — pay with the cryptocurrency at NFC-enabled merchants all over the world.
According to Plutus, the entire process works by the application converting bitcoin to fiat currency that will be stored on a virtual debit card or ‘token’, within the application. This token can then be used to make payments via NFC, anywhere in the world.
In a press release, Plutus CEO and co-founder Danial Daychopan stated:
The intent of the app is to be practical. Plutus plugs into existing infrastructure to allow contactless payments which reward you on the blockchain. It’s