Small and medium-sized businesses will soon be able to build their own wallets, but they won’t have the option to pay with credit cards.
The companies, Visa and Apple, are teaming up to offer an app that will let them tap their phones to scan QR codes and get payments.
The app, called Stellar, is available now for Apple and Android smartphones.
The companies are partnering with the Stellar team and the Bitcoin Foundation to build Stellar, according the Wall Street Journal.
Apple and Android phone makers are already using QR-code scanners, and the QR-scanning technology has made it easy for consumers to buy, pay and store goods.
But the Stellar app will let small and medium businesses tap their smartphones to scan their QR codes to get payment.
A payment system that lets customers buy and pay with digital currencies like Bitcoin, which is now traded on exchanges like Coinbase, is the biggest obstacle to adoption.
In addition to the Stellar wallet, the companies are also working on a new type of payment system, called the Stellar Wallet.
The new app will allow consumers to tap their smartphone to scan a QR code and pay for goods, said Josh Cohen, the chief technology officer for Stellar.
Bitcoin, the currency that is traded on the internet, was created in 2009 by a group of programmers with the pseudonym Satoshi Nakamoto.
Since then, Bitcoin has surged in value and is used in transactions across the globe.