Toshiba and BitPay have signed a new partnership that enables the Toshiba VisualTouch platform to support Bitcoin payments.
The new Bitcoin functionality added to the VisualTouch point-of-sale platform will enable more than 6,000 companies using Toshiba’s POS systems to offer their customers the option to pay for products and services using the virtual currency.
“We are truly excited to announce our partnership with BitPay in order to bring enhanced capabilities to our current customers and entice new business through our combined leadership in this field,” said Marius Kimel, president of Visual Information Products, the team of developers behind Toshiba VisualTouch.
With Bitcoin payment processor BitPay on board, VisualTouch clients will be able to avoid the volatility risks present in the Bitcoin exchange, and therefore, benefit from the lowered fees imposed. Moreover, with BitPay’s new $30 million funding from various companies, this payment processor ensures stability of the Bitcoin price value within its system.
According to Tony Gallippi, executive chairman of BitPay, his company’s partnership with Toshiba will significantly expand the number of businesses that are able to include Bitcoin to the payment modes they offer.
However, the only question now is will these businesses, which are currently composed of more than 6,000 companies, using the Toshiba VisualTouch POS systems opt to turn on the Bitcoin functionality.
To date, the POS systems are mainly used in brick-and-mortar establishments like restaurants, retail stores, grocery stores, and hotels and motels worldwide. Therefore, the integration of Bitcoin to this platform will evidently give the virtual currency enough exposure while maintaining VisualTouch’s functions relevant to Bitcoin users.
With Vegas hotels already accepting Bitcoin for their accommodation and restaurant services, it may already be soon that casinos on the strip may slowly integrate the acceptance of this virtual currency to make way for a Bitcoin casino by also tapping the technology provided by Toshiba VisualTouch.
Although it is uncertain whether this upgrade to the POS system will serve as a catalyst for the shift in the casino industry, what remains positive is that small businesses are showing interest in the POS platform’s Bitcoin integration.