PDX Global Sets Live Beta Test for Fast Crypto-to-Cash Payment Platform on Dec. 19

PDX Global, a digital banking firm, has announced that it will conduct a live beta test of its crypto-to-cash payment platform, PDX Beam, on December 19. The platform aims to enable instant crypto-to-fiat conversions and allow both merchants and consumers to process cash transactions in seconds. PDX Beam will be the first end-to-end transaction process and payment platform designed for rapid crypto-to-cash settlements without the need for traditional intermediaries like credit cards or banks.

After completing a round of testing, PDX Global is confident in the platform’s readiness for the live beta. The platform is designed to address common payment delays and banking charges by allowing users to convert their crypto funds into local currency within seconds. To use PDX Beam, consumers simply sign up, link their wallet, and the app automatically converts the crypto into cash after deducting the necessary blockchain network gas fees. The app, which is free to use, does not require a special exchange account to complete transactions.

For merchants, PDX Beam eliminates the need for a crypto account to accept payments. It is integrated with point-of-sale systems, allowing businesses to process crypto payments seamlessly. This makes it easier for both physical stores and online merchants, including those using platforms like Clover and Shopify, to accept crypto without needing to understand or handle the complexities of cryptocurrency.

The system has been designed to bridge the gap between crypto and traditional payment methods, which further increases the potential of cryptocurrency as a legitimate and practical option for everyday transactions. PDX Beam’s recent testing demonstrated that it can complete live transactions in 30 seconds or less, with plans to improve this to 15 seconds by the time the software is fully launched.

Shane Rodgers, CEO of PDX Global, explained that many merchants believe they need to invest heavily in infrastructure to accept crypto payments, but with PDX Beam, they can integrate the platform easily into their systems using a POS terminal with API support or a custom QR code. This integration comes without additional costs for the merchants.

In addition to crypto-to-cash transactions, merchants will have the option to choose between same-day ACH or real-time instant settlement, which further reduces transaction fees compared to traditional debit or credit card processing.

A recent Deloitte survey showed that 85% of U.S. merchants expect crypto to become a widely used method of payment in the coming years. By 2022, over 2,350 U.S. businesses had already started accepting Bitcoin as a payment option, signaling growing acceptance of cryptocurrency in the retail sector.

The launch of PDX Beam, which has been in development for five years, marks a significant step toward mass adoption of cryptocurrency in daily transactions. The platform’s ability to convert and settle payments quickly and efficiently could be a game-changer for businesses and consumers alike, making crypto payments more practical and accessible for everyone.