Xumm Partners with Ripple-backed Frii to Revolutionize Retail Payments

Xumm and Frii are on a mission to make retail cryptocurrency payments with rewards a practical, everyday reality without burdening merchants with a separate payment system.

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Frii will do this by introducing a purpose-built transaction processing system powered by Xumm that combines a point of sale (POS) terminal application with a multi-function consumer wallet onto the countertop of brick-and-mortar stores - the most valuable real estate for retailers - for the first time in history is groundbreaking.
Mainstream merchants and customers can now use the same mobile and internet environment for both fiat and cryptocurrency payments, opening up a whole new world of possibilities.
Xumm Wallet & Frii terminal in action at the 36aWay sandwich bar in the Netherlands.
Xumm Wallet & Frii terminal in action at the 36aWay sandwich bar in the Netherlands.
February 2023 saw the first live installation of the first Xumm/Frii payment terminal in a cafe in the Netherlands.
The owner and founder of 36aWay, Akin Sariyildiz, said he got really excited when Xumm introduced him to receiving crypto payments in his shop.
"I like the part where there's no banking involved to use this innovative and secure payment method. Now we are set for the future of payments, and we hope we have enabled other shops to do the same!"
Frii CEO and Founder Farhaan Dawood sees XRPL Labs (Xumm Wallet) as the clear choice for bringing cryptocurrency payments with POS terminals onto countertops worldwide.
“The team at XRPL Labs is honest, committed, ambitious, and looking at what they have achieved with the Xumm Wallet and SDK, clearly very talented,” said Farhaan.
“It is a pleasure to see our teams working together on a single mission to set new standards in digital commerce”.
Xumm and Frii entered into a partnership agreement to develop and contribute to the XRP Ledger (XRPL) ecosystem, with Ripple backing Frii to give XRPL-assets a physical presence in people's wallets.
Maaike van der Veen, Chief Business Officer (CBO) of XRPL Labs, feels the partnership with Frii Pay works because “they share our ambitions and don’t shy away from putting in the work”.
“We found a true match in Frii, as their vision to make a success of their POS and offer crypto payments, card payments, and loyalty on the XRPL was already groundbreaking and innovative”.
“The dedication and readiness of both Farhaan and (Frii CTO) Nabeel makes this a very special collaboration in order to set off a new phase in retail payments on the blockchain”.

Groundbreaking Transaction Experience

The vision of Xumm and Frii is to create a dynamic, connected, and rewarding transaction processing ecosystem by integrating XRPL payments in-store and online without relying on existing card schemes.
With Frii, merchants and customers interact seamlessly through the blockchain, making it simple to do business by connecting mass-market retailers to the XRPL.
Frii technology provides a free upgrade to existing standard payment terminals, allowing brands, merchants, and consumers to connect in unprecedented ways by leveraging Xumm Wallet to provide three new blockchain-enabled services alongside traditional payment mechanisms.
These services include:
  • Frii Pay – The ability for merchants to accept any cryptocurrency as a form of payment and receive the currency of their choice in exchange.
  • Frii Loyalty – The ability for merchants to offer a loyalty program that provides consumers FREE crypto in exchange for their spending.
  • Frii Coupons - The ability for brands & merchants to create, manage and redeem digital coupons.

Massive Addressable Market

The addressable market in the United Kingdom (UK) is over 350K physical merchants and over 500K e-commerce websites.
The number of outlets worldwide accepting card payments is projected to reach nearly 100M by the end of 2025 as per RBR London.
The number of outlets worldwide accepting card payments is projected to reach nearly 100M by the end of 2025 as per RBR London.
Frii is already engaged with acquiring banks to act as a mediator between customers and businesses, allowing them to process payments made with both credit and debit cards and cryptocurrencies.
Traditionally, acquiring banks only support credit and debit card purchases. Thanks to the collaboration with Frii and Xumm, cryptocurrencies are now on the list of payment options.
Frii combines standard POS terminals, the Xumm e-commerce plug-in, and their award-winning Open Loop Loyalty program and real-time connectivity to the XRPL.
For the first time in history, consumers will be able to use balances held on the blockchain to make everyday, in-store and online payments without the need for traditional institutions.
The PAX terminal runs the Frii software, allowing customers to pay with cryptocurrency.
The PAX terminal runs the Frii software, allowing customers to pay with cryptocurrency.
Farhaan Dawood, Founder of Frii, puts merchants, consumers, and brands on a level playing field.
“Consumers have been much higher up the digital food chain than Merchants in the past, but the upsurge of smart POS devices, for the first time, enables merchants, consumers and brands, all to be digitally connected in the physical world, and what better way to connect them than with Web 3.0!”
The partnership is a significant step forward in the payment and cryptocurrency industries bringing a breath of fresh air to both the XRPL and conventional payments, making transactions more efficient, flexible, and rewarding.

Xumm Provides Backbone Infrastructure

Xumm, developed by XRPL Labs, is a leader in the XRP space, with more than 700,000 app installs and 152,000 active monthly users worldwide. Maaike van der Veen stated that at Xumm, “we understand the importance of the XRPL ecosystem like no other”.
As a household name and the biggest self-custodial wallet in the XRP space, Xumm has already built a robust ecosystem and has the infrastructure to process the large volume of transactions expected from this partnership. Ripple’s recognition of the capabilities with a grant awarded to Frii puts them squarely behind this game-changing collaboration.
Frii, on the other hand, is known for its innovative point-of-sale technology, providing merchants and consumers with new products and services and increasing utility by building on traditional payment and loyalty solutions.
The home screen of Xumm Wallet
The home screen of Xumm Wallet
“Now that we’ve entered the retail space, our focus is to bring more utility to the XRP Ledger, so we can continue evolving in the world of blockchain. This is just the tip of the iceberg!” said the CBO of XRPL Labs.

Frii Backed by a Ripple Grant

By combining their POS solution and integrated loyalty system with Xumm, Frii aims to capture at least 25% of the retail market in the UK, marking the beginning of their journey in revolutionizing retail payments as we know them.
Ripple is backing Frii as a part of their Wave 4 XRPL Grants
Ripple is backing Frii as a part of their Wave 4 XRPL Grants
At its core, Frii has a team of pioneers in the field of POS technology with decades of experience working with some of the most prestigious global firms.
The founder Farhaan Dawood is one of the pioneers of introducing card acceptance for Visa, Mastercard and AMEX to the retail sector in the UK.
Through their POS technology, Farhaan brought prepaid top-ups for brands including Vodafone, Amazon, Spotify, and XBOX to thousands of UK Merchants, from local shops to national trusted chains like Travelex exchanges at every UK airport.
CTO Nabeel Choudhry joined in 2010, expanding their innovation into loyalty, digital couponing, digital signage, mPOS, and web 3.0 tech, enabling POS to connect Consumers and Merchants to any product from Ben and Jerry’s to Nintendo.
Over the last two decades, the pair have also pushed for innovation in POS hardware to support this expanding range of Digital Merchant Services.
In 2022 the team began building a bespoke platform in collaboration with Xumm bringing all these services together in one place, The Frii World.
The partnership is a significant step forward toward integrating the conventional payment and cryptocurrency industries, bringing a breath of fresh air to both.
With the first live installation of the Xumm/Frii payment terminal in a café in the Netherlands, the future of retail payments is already a reality.
The next phase begins in London this spring.