Polispay has announced in their twitter that Polispay app project, which to my understanding means the whole Polispay, will be shut down.

Why is this done is not told in the tweet, maybe due to legal requirements. After all, this is why Pascal has been working so much to meet those legal requirements in advance to make sure we don’t need to read similar news about Telos projects one day, for it has been for a long time already Pascals anticipation that we will be hearing more news like this in the future from other projects too.

Anyway, if you are using Polispay wallet to store your Telos or XBTX, it is time to transfer them somewhere elsewhere. You have until the 15th of February to transfer them out, or you will lose access to these coins for good.

A fair reminder of what I have been telling to people that there is always a risk when keeping your coins on any third-party provider, like Polispay, or crypto exchanges.

Polispay Wallet added Bitcoin Subsidium (XBTX) as one of the supported coins already about a month ago (telosnews have lately been a bit slow at reporting news to you).

When Considering that there is currently no officially supported mobile wallet for Telos or XBTX, Polispay is a pretty good option to go to if a mobile wallet is what you are after at.

Not to mention that there is no officially supported noob-friendly option for XBTX wallet existing at all, and as exchanges are not always happy for people to use their exchange accounts as active wallets when that wallet receives continuous small income for example from mining, Polispay might well be a pretty good choice right now to be used as your Telos and XBTX wallets, both-in-one solution.

However, do keep in mind that Polispay is a third party, so they can decide whatever they decide without Telos or XBTX having any say on the matter.

About a week ago Polispay added Telos to their supported coins.

Polispay is pretty useful service providing not that many use cases, but those few are very good and well connected together, and after studying a bit about Polispay, it is no wonder Pascal wanted to co-operate with them since, indeed, they do seem to be having some very similar goals as Pascal has in payment area.

First of all, Polispay has a wallet that can hold multiple currencies in it. Nothing new there, there have been them before too.

However, this wallet then makes it possible to have its “Shift” system, which is actually an instant conversion/trade to other coins. Basically a feature that normally Exchanges have, but one that is now applied to a wallet.

Normally when you want to buy some BTC with Litecoins for example, it would take 10 minutes for Bitcoins to arrive at you if things work right, and if not, it could take even a day as have happened with Bitcoin couple of times. However, using Polispays Shift system you will instantly get your BTC to your wallet ready to use.

Having basically an instant payment system in place, this would naturally make a basis for an e-commerce payment system, which Polispay indeed is making right now, making it possible for you to add polispay merchant system as a payment option, and therefore enabling you to sell your stuff on your website against Telos coins for example.

This merchant system is not completely ready yet, but there is already a demo store showing it, so I suppose we might be talking of only of weeks before this Merchant system is ready to use. Of course, at first it won’t have all the features they plan it to have, but I am sure they will be working hard to get the rest of the features set up in relatively short after.

Also, this merchant solution is not limited to just e-commerce, but you could also use this in Brick and Mortar stores to accept for example Telos coins for payment.

Another interesting possibility this Shift system makes possible is the Credit Card system.

And yes, Polispay already has a Polispay Credit Card, a Mastercard to be more precise.

We are not yet there where Crypto enthusiasts have been dreaming of where you can just hold your Telos in your Wallet/Card, go to the grocery store, and use your Cryptos to pay your purchases, but Polispay makes us get pretty close to that already.

You are still not able to use your Cryptos directly to buy your groceries but with polispay, all you have to do is to open your polispay wallet cellphone app and choose to “charge” your credit card. This Charging in practice means that you choose to charge for example 10 000 Telos coins to your credit card, which in practice means that your 10 000 Telos would be sold against FIAT of your choice instantly, and then this FIAT amount could be used with that card anywhere where Mastercards are accepted.

In other words, due to the instant nature of sales happening immediately in polispay with Shift. with one extra step, you are practically able to buy groceries with your Cryptos in any place where Mastercard is accepted.

If the card or merchant options are not interesting to you, then Polispays Vouchers that have been provided in co-operation with Bitcou Gmbh might interest you instead. You can buy Gift Cards to Nintendo eShop, Playstation, or XBOX even, and to make most of the stuff available to you, there are also Amazon gift cards available among others.

Paying these Gift Cards has been made easy. You can buy them against any supported Cryptocurrency, that includes Telos too, and you could as example simply use your cellphone to open menu option from polispay wallet where you can buy these gift cards.

As is usual in the crypto world, Polispay has its own Polis coin as well. Nothing unusual there. POS system, so you can add Polis nodes, which I think Pascal already mentioned will come in future as options to both Peertoro and Blueboxes.

Polis coins will be used for example to pay fees that come from using Polispay Credit Card, Fees that will all be payable only with Polis coins.

Not at all a bad addition to Telos options this one!

PolisPay has Epay Debit Bank Cards in which you can load money and use them to pay stuff for example in groceries.

While we are still not able to directly buy stuff with Cryptos, it is only 1-step away from that.

If you have Telos stored in Polispay system, then if you are at grocery store and have internet connection available, you could be said to being able to pay your Groceries with Telos since idea is that you would log in to you Polispay account, and there you choose to convert (=sell) Telos to Euros. After this is done, these Euros will be at your use with your Debit Card.

So almost like paying with Telos even technically, you are paying with Euros.

To make this even more appealing, Pascal has ordered 100 Debit Cards from Polispay with Telos Design.

If you wish to have one of these, you can order one from here (not available to all countries), but do hurry up, for as title already says, there are only 100 of these available and due to TELOSNEWS.COM already reporting about this bit late they might soon all be gone.

And TELOSNEWS.COM is still not telling you about Todays Monday Article, which isn’t out yet, but in case you missed the previous week’s Monday Article by Lucky Seven, then now is a good time to read it before he releases today’s article.

While TELOSNEWS.COM was a bit away for the last two weeks, Lucky Seven happened to be writing about the latest Transcendence progress, therefore keeping you guys updated on things which TELOSNEWS.COM wasnt during this time.

This article covers news about Polispay, Whitebit Exchange, Update on Future Blueboxes, MNO having added all Telos Tiers, Cryptocurrency checkout, and Midas Investment.

So there, go and read for yourself:

CryptoAcid

Publish0x

Minds

Steemit

Medium