Entrepreneur creates 3D-Printed payment terminal for bitcoin

PEY terminal

A German entrepreneur has taken the reins in strengthening Hanover’s “bitcoin boulevard” by building his own payment terminal for local retailers.

Hanoverian Ricardo Ferrer Rivero has built a prototype, called a PEY, which uses iBeacon technology to connect to an app on shoppers’ iPhones when they enter a store that accepts bitcoin payments. A notification appears on the phone screen, allowing customers to automatically access their bitcoin wallet. They are then able to pay using NFC or a generated QR code, meaning that their payment takes no longer than a debit card transaction and avoiding the need to scroll through apps looking for the right wallet.

The 3D-Printed terminals and accompanying apps are already proving popular in Hanover, where a technically literate population are usually open to cryptocurrency. A dozen businesses, including cafes, shops and hairdressers, have already installed the system, with 38 more set to follow shortly.

Rivero is reportedly thrilled with the uptake and now plans to broaden access by integrating Raspberry Pi technology into the terminal and developing an Android version of the app.

 

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