Having no signal bars on your phone has always meant that sending, receiving or simply checking your digital wallet balance on your phone would have to wait – until now. TXT Coins Now, a subsidiary of TXT Cash Now, is a cellphone-based micropayment system for Nextcoin or NXT that will allow users to send cryptocurrency while offline.
Simply put, the new service would allow anyone in the world to send NXT to anyone else with a plain old text or voice message. And while this may not sound life-saving to many of us, this type of service could become prove to be just that for people in Africa, for example, where mobile payment services are booming but where internet service is unreliable or does not even exist.
The service is slated for launch sometime in July 2014 “alongside an altcoin Escrow service for traders and local agent function,’ according to a press release.
“Use text messages, followed by an automated phone call to SECURELY transfer COINS in and out of our secure Crypto-Bank accounts. Users will have the ability to deposit/pickup coins/cash, make purchases at merchant locations and purchase items online.”
TXT Coins Now uses text messages and automated phone calls to securely transfer digital currencies between mobile phones. It will also offer online and offline options to securely pay bills and deposit or pick up cash worldwide using cryptocurrencies.
You can witness the new service in action at the upcoming PayExpo conference in London, which will be held on June 11-12. NXT will be “the official cryptocurrency partner” at the event where Pete John Manglaviti, co-founder of CoinTropolis and NXT Coin representative, together with the founder of TXT Coins Now, Lee Gibson Grant, will be presenting at 10:30 am. The presentation is entitled “Next generation payments: demonstrating the real-life use of the cryptocurrency NXT” and will showcase the new service as well as reveal other features of TXT Coin.
Now, with offline capabilities, the new collaboration can be said to be a combination of PayPal, Western Union and micropayment solutions, all rolled into one alongside its escrow functions. “Not only can anybody around the world use TXT Coins Now to send or receive NXT coins without Internet access or an external application,” reads the press release, “but all the functions of online merchant services and the offline local agent functions of Western Union are integrated.
TXT Coins Now is a flexible platform that also allows third parties to interlink and use its backbone for:
- Crypto exchange
- Crypto to fiat
- Large chains
- Crypto and normal fiat currency ATM machines
- Crypto and normal fiat POS systems
- Mobile Networks Bolt on
- Banking bolt on
- Other bolt on services to enable consumers and crypto enthusiasts more places to use NXT Coin.
BTL Coin, Scotcoin and Ukra Coin are expected to be added to the platform as optional currency while Bitcoin integration is also in the works.
TXT Coins Now has been in the pipeline since 2010 as a bolt-on service for mobile operators and banks who want to expand their services into the mobile payment sector. Two weeks ago, TXT Coins Now partnered with NXT as its dedicated and official cryptocurrency. The next-generation cryptocurrency NXT is planning to open a café in Shoreham-by-Sea that will accept next coins (in addition to Bitcoin) and where the first NXT ATM is also expected to appear soon.