PDX Global schedules live beta test for rapid crypto-to-cash payment platform on Dec. 19

Global digital banking company PDX Global plans to launch a live test of PDX Beam, a platform that can convert thousands of cryptocurrencies into fiat and cash transactions in seconds.

PDX Beam is set to become the first end-to-end payment processing process and crypto-to-cash payment platform for merchants and consumers. Developer company PDX Global recently completed the testing round of the app and announced that the app is ready for public live beta testing on December 19.

According to the press release obtained by Crypto.news, PDX Beam offers users instant crypto-to-cash payments directly through the blockchain-based platform, without the need for traditional intermediaries such as credit cards and banks. Once the app becomes public, users will be able to avoid banking fees and payment delays by using PDX Beam to convert crypto to cash in seconds.

Users simply sign up for PDX Beam and connect their secure wallet. To make crypto payments in-store or online, the app will convert the user’s crypto funds into local currency after paying mandatory gas fees for network usage on the relevant blockchain. The free app claims that the user does not need to have a “dedicated exchange account” to make the purchase.

Merchants, on the other hand, will be able to accept cryptocurrencies from consumers without needing to have a crypto account or even touch the crypto side of the transaction. This is because PDX Beam integrates with point-of-sale systems and business software. The app is also set to facilitate physical and online purchases for marketplace platforms like Clover and Shopify.

The platform bridges the gap between crypto and traditional currencies, further expanding crypto’s potential as a form of payment for everyday use.

After five years of development, final testing results revealed that the app can process live, end-to-end payment transactions in 30 seconds or less with no issues. Once the software is launched, the team expects the platform to be able to complete transactions in 15 seconds or less.

PDX Global CEO Shane Rodgers noted that most merchants still believe they need to allocate significant funds to crypto payment systems to start accepting crypto from customers. With PDX Beam, merchants can easily integrate the application into their systems using any POS Terminal equipped with API or custom code for QR scanning, without additional costs to accept crypto payments.

“Transactions can be made on the same day ACH [Automated Clearing House] or real-time instant payment at the merchant’s option, reducing fees to a fraction of the transaction cost of a debit or credit card,” Rodgers said.

According to a recent survey by Deloitte, approximately 85% of merchants in the US expect cryptocurrency to be used for everyday payments within the next few years. By 2022, approximately 2,352 US businesses have accepted Bitcoin (BTC) as a payment option.