Payment infrastructure is the key to bring retail users to crypto!

Nowadays the era is getting digitized day by day. So every person feels comfortable to adopt simple method. Even today, consumers are comfortable using their debit cards at almost any retail outlet or brick-and-mortar store, starting with basic purchases. Because this has constantly made daily payments very easy and hassle free. Nowadays people in many countries feel comfortable using digital currency instead of physical money. Also, people have become accustomed to using various cards in retail outlets instead of cash.

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But if we look back a bit and think back to the 70 decade or 1970 when the first iteration of the debit card came out. They were then usable only in Automated Teller Machines (ATMs). Back then these cards were a limitation but most retail outlets could not accept them. This is because point-of-sale (POS) terminals at retail outlets were expensive and not as widely available as they are now. But with time they have become quite popular and readily available.

This is because we know that these digital currencies are known for their volatility. Moreover, the most important thing is that cryptos are still not completely free from scams like hacks or scams. It's partly a lack of awareness. But the biggest reason is the crypto payment system. Where there is less availability of robust last-mile infrastructure like POS terminals designed for such online based payments. Influencers and opinion leaders who worry about "retail" sleeping through ongoing market cycles tend to miss a key point. But if the payment system through crypto at retail outlets can be simplified and made safe and transparent, then it will be possible to include the general public in crypto.

Similarly, if cryptocurrency is to attract the general public in today's times, it must offer some benefits so that all types of people can be included. If we look at the Web3 Payment Rail we can see the same place at present. Although Overstock, Microsoft, Shopify and some other online stores accept Bitcoin (BTC) payments. But these have a limitation due to which customers mostly cannot pay for their local groceries using crypto.

The use of Web3-native point-of-sale terminals can help retail merchants receive crypto payments without legal risks or technical hassles, and thereby attract the general public to some extent. However, if the general public is to be included in these digital currencies, certain policies must be adopted, such as the use of POS terminals that complement them, with physical cards that customers swipe to spend crypto. This is similar to the work of some projects that are already exploring the use of tokenized funds that allow users to pay dinner bills. The ability to use crypto empowers individual users, and empowered users will be more willing to adopt crypto and inspire their peers. So of course, if the common people are to be included in crypto, then there must be an exception that is useful and convenient for the common people.