Dubai — Fintech entrepreneur Vehid Abdullahi, chief executive of Pallapay, says his company has developed what it describes as the first crypto-to-fiat point-of-sale system designed to let merchants accept cryptocurrency payments without directly handling digital assets.
The system is aimed at retailers and e-commerce businesses that want to offer crypto payment options while avoiding exposure to price volatility or the technical complexity typically associated with digital currencies. According to Pallapay, transactions are automatically converted, allowing merchants to receive payments in traditional fiat currencies even when customers pay in crypto.
The launch comes as cryptocurrency use for payments continues to expand globally, driven by broader adoption and increased consumer familiarity. Industry analysts note that while interest in crypto payments has grown, many businesses remain cautious amid regulatory uncertainty and market volatility. Pallapay’s approach seeks to address those concerns by abstracting crypto handling away from the merchant.
Pallapay operates as a digital payment platform and wallet service, enabling users to send, receive, and exchange funds through a browser-based system. The company says its services support multiple fiat currencies, including the U.S. dollar, euro, British pound, and UAE dirham, as well as a wide range of cryptocurrencies, such as Bitcoin and stablecoins. Its payment interfaces are available in roughly 20 languages, reflecting its focus on international users.
Abdullahi, a computer science graduate of California State University, Fullerton, has worked in fintech and banking software for years and founded Palladium Payment Services, Pallapay’s parent company. He has positioned the new POS system as part of a broader effort to modernize global payments by bridging traditional finance and blockchain-based technology.
While Pallapay has not disclosed adoption figures or commercial partnerships tied to the new POS system, the company says it expects demand to grow as businesses seek simpler ways to accommodate crypto-paying customers without overhauling their existing operations.
The rollout highlights ongoing experimentation in the payments industry, as fintech firms compete to make digital currencies more usable in everyday commercial settings while reducing merchants’ risk.
