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GuestLogix Inc. has started carrying out digital currency wallet components on its Transaction Processing Engine, which will enable the acceptance of Bitcoin and similar virtual currencies on its widely used Retail Platform.
GuestLogix Inc., a publicly traded Toronto-based technology company, has recently announced that it has started carrying out digital currency wallet components on its Transaction Processing Engine(TPE).
Acceptance of Bitcoin will become promptly available on GuestLogix custom handheld POS terminals and mobile POS platform for Android OS, iOS and MS Windows Mobile in consequence of adding a digital currency wallet to the TPE.
The company was launched in 2002 in Toronto, Ontario by Tom Douramakos and Brett Proud. Currently the company operates regional offices in the United States, United Kingdom, Hong Kong and sales and support centers in Singapore and South Korea. GuestLogix is listed at 375th on the 2013 Deloitte’s North America Technology Fast 500and 39th on the 2013 Canadian Technology Fast 50.
At the moment, the PCI-certified Transaction Processing Engine supports ancillary revenue generation in excess of $1 billion per year across 144 countries. This will allow operators and brands of the travel sector to accept payments in digital currencies at all access points: mobile applications, at kiosks, on handheld POS devices as well as in-flight entertainment systems onboard aircraft in a secure and reliable manner.
Thus, the service will allow passengers to pay for products and services using digital currency. In an offline environment, such as onboard an aircraft with unavailable internet connection, passengers can continue using their own digital currency wallets available on their mobile smartphones to transact with the GuestLogix POS terminals: the company will accept the payment and remit the funds to the customers in process of time when internet connection is available.
“As ancillary products and services continue to be a vital business component at virtually every touch point where travel operators connect with their passengers, and with an ever growing population of travellers carrying smartphones and holding virtual currencies, there is a need to ensure those travellers can use Bitcoin currency consistently as a form of payment within each access point,” said Brett Proud, the President & CEO of GuestLogix.
He continued: “We are proud that the core components of GuestLogix’ payment solutions will soon be Bitcoin-enabled for all travel operators and ancillary providers to integrate with.”
Travel brands and operators can choose to value products and services in Bitcoins by exploiting the special pricing and promotions module on the company’s Retail Platform. Travel operators may choose to maintain Bitcoin addresses to receive the payments directly.
Alternatively, Bitcoin funds accepted from the passengers will be converted using the daily exchange rate of the Bitcoin relative to the travel operator’s base currency and the converted funds will be remitted to their bank account.