How do in-store purchases work?

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I'm familiar with trading Bitcoin on exchanges, but I've always been curious as to how in-store payments work (for example, buying a cup of coffee).

How does the retailer accept payment and verify that you have the funds? Do you need a card similar to eftpos? I didn't think Bitcoin was fast enough for an over the counter transaction.

Regards,

A Hodler.

submitted by /u/EliteDangerous72
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1 CRYPTO

Crypto News & ICO Reviews

1 News - 247 News - 247 Bitcoin - 1 Search

BTC - BCH - ETH - LITE - XRP

Buy Sell Trade Crypto Here

 

Ticker

1 BTC = $42516.12 USD  (via Coinbase)
1 ETH = $2927.06 USD  (via Coinbase)
1 LTC = $152.60 USD  (via Coinbase)
Quotes delayed up to 2 minutes.

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