- Coinerz Group Pte Ltd launches the GPS Pay Beta.
- GPS Pay Payments App allows users to spend their Triffic rewards as cryptocurrency.
- GPS tokens are the backbone of the GPS Pay payments systems.
Operating in the realm of excellency, Singapore-based Coinerz Group Pte Ltd, the creators of the Triffic and GPS Pay projects, launches the GPS Pay Beta. This is in a bid to support local payments. More so, it integrates with Triffic’s innovative gamification mechanics centered around a user’s local area.
In brief, Coinerz Group Pte Ltd publishes gamified experiences that help communities take back control of their local commerce. Additionally, the company’s Triffic and GPS Pay mobile apps run on top of the GPS Token blockchain network.
Notably, GPS Pay Payments App allows users to spend their Triffic rewards as cryptocurrency. It also enables small, local purchases aimed at supplementing the user’s spare change.
Further, with this milestone achievement, the app also enables users to interface with the Triffic and Ardor/Ignis tokens. Remarkably, the app also features a decentralized NFT market, which lets users buy and sell virtual land on the Triffic Map.
James Malach, Coinerz Group Founder, and CEO says,
Triffic NFTs’ come with a built-in revenue stream that’s extremely easy to understand. Owners receive 10% of all augmented reality Reward Beacons, plus 100% of the Incentive Beacon listing fees that occur within their boundaries.
Henri Holm, former CFO of Nokia Greater China and SVP of Rovio Entertainment, has joined Coinerz Group as head of its advisory board.
Holm notes that “Coinerz Group have created a really interesting, alternative earning and payment model that’s of particular interest to emerging market economies, as well as localities with mobile-first consumers”.
The Triffic App incentivizes and rewards users for visiting local businesses. Meanwhile, GPS Pay is like Venmo for the type of small transactions that make up the bulk of local purchases. “Earn local, spend locally” added Holm. GPS tokens are the native tokens GPS Pay payments systems. The tokens are a fully blockchain-based ecosystem that allows people to cash out their Triffic Miles. Also, they can register ownership of non-fungible territory from the Triffic game map. GPS tokens can be traded on the STEX exchange, with more integrations coming in the future.