Pundi X Kicks Off Phase 1 of $PURSE Token Distribution to Propel Growth in Crypto Payments

Provider of blockchain-based Point Of Sale (POS) solutions Pundi X has introduced a program to reward users in its DePIN by distributing $PURSE tokens. This initiative is designed to motivate hardware wallet users, aiming to boost engagement and expansion within the Pundi X ecosystem. crypto According to the announcement, users of the DePIN network will earn rewards akin to traditional cash-back or mileage programs found in credit cards. Each transaction adds to their earnings, which encourages repeat patronage, while businesses benefit from improved customer loyalty and increased sales.

"Pundi X empowers both customers and businesses economically through this token distribution. Customers can earn $PURSE tokens by engaging in numerous activities within the ecosystem—be it shopping or joining promotional events at physical stores. Additionally, merchants who accept $PURSE gain increased foot traffic and loyalty, potentially enhancing their profits,” explained Zac Cheah, Co-founder and CEO of Pundi X to Metaverse Post. loyalty points This loyalty initiative stands out from conventional programs as it allows loyalty points to be transferable and usable outside the immediate ecosystem.

Cheah also pointed out a significant cost-saving aspect for merchants, who can cut down on the infrastructure expenses that typically accompany conventional loyalty programs. The DePIN model promotes the establishment of decentralized payment infrastructures and physical networks, effectively connecting cryptocurrency with tangible rewards across regions.

It's crucial to recognize that holders of $PURSE tokens can enjoy a multitude of benefits, including access to rewards like gifts, goods, services, and cash-back features based on their further spending. $PURSE acts as the primary token for the PURSE Merchant loyalty program, functioning across various platforms.

"This token provides users with a say in key decisions impacting the platform, from tweaking transaction fees to adjusting redemption policies and guiding the use of treasury funds,” stated Zac Cheah from Pundi X to Metaverse Post. “Advertisers, projects, and merchants will need $PURSE to complete tasks, promote their offerings, and redeem vouchers on the platform.”

Distribution of $PURSE Tokens Sets a New Standard for Crypto Payments blockchain  networks.

As outlined in the announcement, the initial phase will see 100 million $PURSE tokens allocated once holders of the p(x)Card utilize crypto via the XPOS network. This allocation operates on a first-come, first-served basis until all tokens are distributed.

Furthermore, the distribution strategy unfolds over four phases, with the goal of evolving crypto incentives and paving the way for the future.

"The p(x)Card integrates with a variety of blockchain networks, each possessing its unique encrypted key. Utilizing a tailored encryption approach for each consensus method, it includes secure storage features,” remarked Zac Cheah from Pundi X.

"Additionally, the p(x)Card collaborates with the p(x)Card app, which will undergo regular updates to maintain its security and functionality. A standout feature of the p(x)Card is its capability to keep the private key separate from the smart device. This means that even if the smartphone is lost or compromised, the funds on the card remain safe and untouched,” he elaborated. crypto payment  ecosystem.

Rewards accumulated will be disbursed after seven days, with p(x) Cardholders able to easily claim their rewards through the dedicated app.

Participants utilizing p(x)Cards for transactions can also earn randomized $PURSE rewards through the Spend-to-Earn mechanism, motivating both customers and merchants to promote crypto-based payments. This system accelerates the growth of the payment ecosystem by rewarding token transactions.

"Our reward distribution program is designed to hasten the acceptance of cryptocurrency payments among traditional merchants and consumers. Traditionally, neither spending nor receiving crypto payments has provided substantial benefits for businesses or customers,” Cheah stated.

Through the distribution initiative, customers gain enhanced coverage for crypto payments and lower fees, while merchants can drive more business, resulting in higher fee collections.

The $PURSE token distribution initiative is designed to fast-track the acceptance of crypto payments among traditional businesses and consumers, reshaping interactions by offering benefits like improved payment coverage and reduced costs.

, be aware that the information on this page does not constitute legal, tax, investment, financial, or any other type of advice. It's vital to invest only what you can afford to lose and seek independent guidance if you're uncertain. For further details, we suggest checking the issuer's terms and conditions and their help and support sections. MetaversePost is dedicated to providing accurate, unbiased reporting, but market conditions may change without prior notice.

Kumar, a seasoned Tech Journalist, specializes in the rapidly evolving spaces where AI/ML meets marketing technology, along with emerging fields like cryptocurrencies, blockchain, and NFTs. With over three years of experience in this sector, Kumar has built a solid reputation for creating compelling stories, conducting enlightening interviews, and presenting thorough insights. His expertise lies in crafting high-impact content—such as articles, reports, and research pieces—for renowned industry platforms. With a unique blend of technical acumen and storytelling skills, Kumar excels at breaking down complex technological ideas for a diverse audience in an engaging and accessible manner.