Xumm Reveals Details of Partnership With Frii for XRPL Powered Retail Payments
The partnership integrates Frii’s innovative POS technology and Xumm’s robust infrastructure to offer a seamless cryptocurrency payment experience.
Xumm, in a blog post yesterday, has revealed new details of its partnership with Frii for its XRP Ledger-powered retail payment solution.
Recall that, as reported by The Crypto Basic, Xumm had launched the novel QR payment solution in partnership with Frii in the Netherlands. Frii integrates the Xumm e-commerce plug-in with available point-of-sale terminals in retail shops to allow them to receive payments in XRPL tokens which are automatically converted to GateHub stablecoins of the retailers choosing.
In the blog post released yesterday, Xumm reveals that the solution can do more than just payments thanks to Frii’s Open Loop Loyalty program. Other services include Frii Loyalty which will allow merchants to create a loyalty program that offers customers free crypto in exchange for continuous patronage. In addition, Frii Coupons will enable merchants to generate and manage digital coupons. Notably, all of these are powered by the XRP Ledger.
“We found a true match in Frii, as their vision to make a success of their POS and offer crypto payments, card payments, and loyalty on the XRPL was already groundbreaking and innovative,” XRPL Labs Chief Business Officer Maaike van der Veen said hailing the partnership. “The dedication and readiness of both [Frii CEO] Farhaan and [Frii CTO] Nabeel makes this a very special collaboration in order to set off a new phase in retail payments on the blockchain.”
The payment solution plans to kick off in the United Kingdom, noting that it has over 350k physical retail stores and over 500k e-commerce websites. Frii, which received $125k in Ripple’s wave 4 XRPL grants, plans to capture at least 25% of the retail market in the UK.
Per the blog post, Frii is already in talks with acquiring banks that process credit and debit bank payments on behalf of merchants to support cryptocurrency payments. Notably, the Frii team comprises pioneers in the POS technology space, with the chief executive officer Farhaan Dawood credited with introducing the acceptance of Visa, Mastercard, and AMEX cards to the retail industry in the UK.
As reported, Frii Pay, previously called Pay with Xumm, has received glowing reviews in its first trial.
