Brick-and-Mortar Store Transactions

Want to use your cryptocurrency when you're out and about? Many businesses who accept it as payment make it easy for you; Coin Pursuit shows you how.

In contrast to online transactions, these take place in an actual brick-and-mortar store. You're able to take a look at what you're buying, and kick the tires, so to speak, before you make your purchase. You're also able to interact with an actual human being and ask questions before committing to buying. Rather than standing in line at a cash register, though, you can take care of your purchase details right there in the store; no wait, no hassles.

Businesses will often post a QR code next to an item that's available for purchase; this is much like a bar code, only it's square in shape, and can hold more information. With any mobile application that's equipped with a QR code scanner—and most apps designed for cryptocurrency are—you can just scan the code and carry out the transaction just as you would an online one, detailed in the previous section. The QR code generally contains the product information and the store's public key, so your mobile device will instantly know what you're getting and who you're buying it from. Once your transaction's complete, you can either choose to have the product shipped to you, or you can just walk out with it—once you've been given a paper or electronic receipt for it, of course.

Buyers like this system because it allows them to physically view the goods, rather than having to rely on photos on a website, and they can talk one-to-one with a store representative. Merchants like it because it helps keep sales in the store. Some shoppers will go to a store, check out what they want to buy, then go online and purchase it from a competitor. This practice is called “showrooming,” and merchants hate it. Their store is used to demo the product, only to lose the sale to someone else. To combat showrooming, product QR codes will often include customer discounts, both to keep the purchases in-store and to thank you for your patronage.

Next Merchants Topic: QR Codes and Cryptocurrency

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