One of the things people love about Bitcoin payments is the fact you can just open up your Bitcoin wallet scan a QR code with your mobile device. No more typing in long and tedious wallet addresses, as that has become a thing of the past. When doing online banking however, you still have to use a card reader, type in various codes and then confirm the transactions through other codes. The same can be said online payments in general. But it looks like (Belgian) banks are focusing their attention on using QR codes as well.
Sixdots Payments Are Very Similar To Mobile Bitcoin Payments
The use of a QR code for payment purposes is nothing new under the sun, even though most companies use these QR codes as a redirection to their website or to find out more information about one of their products/services. Most of us were well aware it was only a matter of time until some of the major financial players started tinkering around the the possibilities of QR codes as well.
And that is exactly what some of Belgium’s biggest companies have done, of which Sixdots is the result. Sixdots lets users pay for purchases with their smartphone and/or tablet. Furthermore, you can use this mobile application to pay back a friend, or even pay in-store at very select retailers such as Inno, AS Adventure and Doccle.
Sixdots lets users store one bank card, credit cards, loyalty cards and offers interesting features such as couponing and ticketing. In order to secure your account from harm, users qre required to set up a 6-digit PIN code, which will be used to open their application and for every purchase they will make through Sixdots.
In order to pay for an online purchase with Sixdots, select Bancontact/Mister Cash at checkout and simply scan the QR code generated by the webstore. You have to keep in mind that not all web stores have the QR code generation function enabled, but the Sixdots team is working hard to expand their list of merchants on a monthly basis.
Similar to Bitcoin wallets, anyone else using the Sixdots application can generate a QR code to request a payment. Unlike Bitcoin wallets however, Sixdots transactions through Mister Cash or Bancontact are usually subject to a transaction fee which is dependant on your bank and the other person’s bank.
The lost of supported banks includes most of the major Belgian banks : BNP Paribas Fortis, Belfius, Bpost Bank, CBC Banque, ING Belgium, KBC Belgium, Record Bank, Fintro and Hello Bank. Both Android and iOS users can download the Sixdots app in their respective application stores. As of this writing, there is no official word on whether or not Windows phone will be supported in the future.
Why Bitcoin Is Better
Mobile payments are definitely an interesting trend for many years to come, and Bitcoin is one of the frontrunners in making this possible. With the banks slowly starting to catch on, you might see the lines between tradition payment methods and disruptive payments methods blur a little bit. However, there are plenty of reasons why mobile Bitcoin payments are still superior to what Sixdots and others similar applications can offer at this point in time.
Low to 0 fees for transactions, regardless of what country you are in or who you are sending money to
No transaction limits (Sixdots allows users to send up to 250 EURO and receive up to 500 EURO per day)
No 24-hour delay in waiting for the funds to appear in your wallet (Sixdots transactions are paid out the next business day)
More and bigger retailers accept Bitcoin payments compared to the very small list of merchants supporting Sixdots
Website : https://www.sixdots.be/en