Payment service providers violate the law when accepting cryptocurrency as a means of payment. This problem concerns a large number of countries where digital money is illegal or its status is still undefined. As a result, there are difficulties with banks and other regulators, it is necessary to put special equipment or refuse to account for transactions. All this puts limitations on interaction between the blockchain community and traditional retailers. It is important to create mechanisms that will simplify the payment with cryptocurrency, making it legal. The Joys team found a solution by applying mechanics that are legal all over the world: loyalty programs, gift cards and digital coupons.
Loyalty program
The cryptocurrency of the one who pays is automatically exchanged for JOYS tokens, which are equal to bonus points under the loyalty program and are awarded in accordance with the established rules.
When paying for the goods, the buyer receives a discount for the cryptocurrency. There are no settlements in fiat currency between the JOYS issuer and the merchant.
Gift and prepaid cards
Cryptocurrency JOYS is used as payment for gift and prepaid cards issued by the seller. They are used for the purchase of goods or services. This option is suitable for grocery stores and stores where receiving digital money through a smartphone may be difficult due to queues and the volume of customer flow.
Digital coupons
It involves the purchase of digital coupons for cryptocurrency. JOYS also act as coupons. This option allows you to apply flexible settings for the purchase of goods and services, automatically use the coupon at the checkout, use QR codes and any other methods of automation.
In any of the options for the buyer, the purchase of goods and services for cryptocurrency looks almost the same as for fiat currency.
