Creators of Bitcart, an Irish-based discount gift card platform, have today announced the launch of a landmark product called Festy, a QR code and NFC integrated wristband that allows festival and bar goers to pay for food and drinks using Dash, all without a wallet, a cell phone, or credit card.
Festy is linked directly to a consumer’s Dash account, so funds are not stored on the Festy platform and transactions for goods occur within seconds, while the merchants have the ability to cash out their Dash for the equivalent fiat currency. Dash is the world’s leading digital currency for payments and currently the 6th most valued cryptocurrency at over $1.3 billion USD. Dash’s InstantSend technology allows the digital currency to make instant payments.
In the next update, Dash will be able to process half a million transactions with extremely low fees, roughly ten cents per transaction. With no card numbers or private keys displayed while making purchases, Festy ensures maximum privacy, and users can top-up their wristbands at branded ATMs, or make simple transfers online.
Bitcart CEO Graham de Barra said:“Our partnership with Dash makes the perfect payment solution for everyday transactions. Unlike existing traditional bank payments that take a 2-5% fee, there is no cost on receiving Dash for merchants. Merchants accepting payments will never have a chargeback, and there are potentially enormous savings to be made compared to the crippling fees from existing payment solutions. We believe this is the payment processor of the future.” “Festy’s multi-functional wristband is compatible with every Point-of-Sale system where Visa contactless is accepted, as well as on any mobile phone or computer with NFC tags and offline payments using QR codes. This versatility is adaptable to any environment including fields, beaches, camping sites as well as bars, restaurants and conferences. Festy is an affordable, scalable, and secure payment s...