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Velo Labs’ Orbit teams with POS networks to facilitate crypto payments

By Gloria Mathias

February 23, 2024

  • APAC news
  • Blockchain
  • Crypto Payments
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Velo Labs, Orbit, Blockchain, Fintech news, Payments technology, POS Network, Merchant network, Payments, Crypto Payments, Velo Labs has announced partnerships between its Orbit crypto merchant network and point-of-sale (POS) networks and plans to achieve users in Orbit, marking a leap towards the integration of cryptocurrency in everyday transactions.

This partnership reflects the convenience of traditional payment providers like Visa and Mastercard but innovates by enabling payments through QR code scans, allowing customers to use cryptocurrencies instead of swiping a card.

Orbit, a technology developed by Velo Labs, facilitates a seamless crypto transaction experience for merchants and consumers alike. By partnering with POS networks, Orbit is bridging the gap between traditional retail payment systems and the burgeoning world of cryptocurrency, offering a versatile and secure payment solution comparable to the convenience of Visa and Mastercard.

Through this partnership, merchants connected to these POS networks will gain access to Orbit’s crypto payment processing capabilities. This allows for a broad spectrum of cryptocurrencies to be accepted at points of sale and instantly converted to fiat currency to ensure merchants receive payments in a stable and familiar form.

This partnership exemplifies Velo Labs’ commitment to expanding financial inclusivity and innovation. By connecting Orbit’s crypto merchant network with traditional retail POS systems, Velo Labs is facilitating another payment method and actively participating in the evolution of global financial services, making digital currencies an integral part of daily commerce.

Velo Labs’ initiative is a testament to the company’s commitment to fostering a more inclusive financial ecosystem. By enabling crypto payments, Velo Labs is not only expanding the utility of cryptocurrencies but also providing merchants and consumers with more choices and flexibility in how they transact.

Looking ahead, Velo Labs and Orbit are committed to expanding their network of partnerships, aiming to include more merchants and POS providers. This will further enhance the accessibility of crypto payments in retail and solidify Velo Labs’ position as a leader in the convergence of decentralised finance (DeFi) and traditional financial ecosystems.

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