Hong Kong Restaurant Chain Now Accepts Crypto Payments Via Pundi X Devices

Announcements, Now Accepting | July 12, 2018 By:

Organic food chain FAMA Group is now accepting cryptocurrency payments in four of its partner restaurants in Hong Kong via Pundi X point-of-sale (POS) devices.

FAMA Group operates its own organic grocery store, concierge preventive health clinic, farmers market, café, fast food restaurants and full service restaurants. The company is on a mission to nurture their community to a healthier and happier place by sharing their knowledge and making organic and locally grown products accessible, affordable, and convenient.

Pundi X is a multi-cryptocurrency POS solutions provider for retail stores seeking to accept cryptocurrencies. The Pundi X POS device enables consumers to quickly and easily acquire or spend BTC, ETH, Pundi’s own token NPXS, and other cryptocurrencies using fiat money, mobile wallet or Pundi X PASS cards. The purchased cryptocurrency can be stored in the physical card wallet, or used to make cashless payments to top up phones, pay utility bills or buy goods.

The Pundi X devices were installed at four partner restaurants in the FAMA Group. These include Locofama, Sohofama, SUPAFOOD and the Hive Cafe.

“Our restaurants celebrate traditional methods in our cuisine, but we also see ourselves as innovators and are pleased to be on the frontline in enabling customers to settle their bill with bitcoin or ether-based cryptocurrency by using a secure payment option such as the Pundi X POS,” said Larry Tang, founder of the FAMA Group.

Pundi X co-founder and CEO Zac Cheah said that this is the first of many partnerships that they will be setting up across Asia to encourage more widespread use of cryptocurrency in the retail economy over the longer term.

“Adoption of cryptocurrencies in East Asia is probably the highest in the world, however there are still few channels for spending digital currency today and this is what we want to change by working with retail outlets such as the forward-thinking FAMA Group,” Cheah said.

Last month, $19.6 million worth of NPXS tokens were stolen from South Korean crypto exchange Coinrail. At the time, Pundi X said that the stolen coins was roughly three percent of all the tokens in circulation. After being stolen, the coins were transferred to the IDEX exchange, which agreed to freeze the tokens after being notified.