Skip to main content

Verifone Enables Retailers to Accept Cryptocurrencies, Says Merchants’ Appetite for Crypto Payments ‘Has Exploded’

Verifone Enables Retailers to Accept Cryptocurrencies, Says Merchants' Appetite for Crypto Payments 'Has Exploded'

Verifone, a global payment system provider with 35 million devices in 150 countries, is rolling out crypto payment support in the U.S. in partnership with Bitpay. Verifone’s platform processes more than $440 billion annually. The company says, “the appetite for crypto payments has exploded this year.”

Major Retailers Will Soon Be Able to Accept Cryptocurrency Payments via Verifone

Major payment solution provider Verifone announced Tuesday its partnership with Bitpay “to enable consumer cryptocurrency payments on Verifone’s in-store and Ecommerce Cloud Services platforms in the United States.”

Verifone provides “end-to-end payment and commerce solutions to the world’s best-known retail brands, major financial institutions, and directly to more than 600,000 merchants alike,” its website describes. The company’s global platform handles more than 10.4 billion online and in-store transactions annually, totaling more than $440 billion. About 35 million Verifone devices are in operation in more than 150 countries.

The announcement details:

Merchants will begin rolling out the solution later this year.

The cryptocurrency payment solution requires one of Verifone’s Engage or new Android line of devices connected to the Verifone Cloud.

“Merchants will be able to accept crypto payments directly from Verifone without the need for an account with Bitpay,” the payment solution provider added. “Funds will be settled promptly into the merchant’s bank account in traditional currency (e.g. USD) via Verifone.” In addition, the partnership allows Verifone the right to make a strategic investment in Bitpay.

Merchants will be able to accept Bitpay’s supported cryptocurrencies: bitcoin (BTC), ethereum (ETH), dogecoin (DOGE), bitcoin cash (BCH), wrapped bitcoin (WBTC), litecoin (LTC), and 5 USD-pegged stablecoins (GUSD, USDC, PAX, DAI, and BUSD).

Jeremy Belostock, head of Verifone’s APMs, commented:

Our merchant base is busy enabling several new advanced payment methods (APMs), and the appetite for crypto payments has exploded this year.

He believes that this crypto payment solution solves “all the potential challenges for merchants,” emphasizing, “there’s no translation risk, low implementation costs, and consumers will find the payment experience very seamless.”

What do you think about Verifone enabling retailers to accept crypto payments in partnership with Bitpay? Let us know in the comments section below.



from Bitcoin News https://ift.tt/3zJwxiM
Labels:

Comments

Post a Comment

Popular posts from this blog

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...
Post a Comment
Read more

Fidelity Discusses Bitcoin as Portfolio Insurance — Could Soon Stand in ‘Stark Contrast’ to Path Fiat Currencies Take

Fidelity Digital Assets, a subsidiary of Fidelity Investments, says that bitcoin could be considered portfolio insurance. The firm notes that the cryptocurrency “may soon stand in stark contrast to the path that the rest of the world and fiat currencies may take — namely the path of increased supply, additional currency creation, and central bank balance sheet expansion.” Fidelity Says Bitcoin Could Be Portfolio Insurance Fidelity Digital Assets, a subsidiary of Fidelity Investments, recently published a research study titled “The Rising Dollar and Bitcoin.” The research outlines “how bitcoin could be considered portfolio insurance” as the rising dollar impacts global currency markets. “The strengthening U.S. dollar is wreaking havoc among other countries and may put pressure on the Federal Reserve to soon reverse its tightening monetary actions, something that has precedent based on 1985’s Plaza Accord,” Fidelity explained. In addition, “more monetary debasement may be needed to ...
Post a Comment
Read more

Economists Discuss Russia, China Potentially Developing Gold-Backed Currency That Could Undermine US Dollar

Economists have weighed in on reports that China and Russia may be developing a new gold-backed currency that could undermine the U.S. dollar’s status as the world’s primary reserve currency. Russia and China May Be Developing Gold-Backed Currency Several experts have shared their views on Russia and China potentially creating a new gold-baked currency, Fox Business reported Saturday, emphasizing that China has been buying up huge quantities of gold while Russia was forced off the U.S. dollar due to sanctions imposed on the country following its invasion of Ukraine. The news outlet noted that some experts have cautioned that these moves, along with the closer relationship that has developed between Moscow and Beijing, point to the likelihood of China attempting to launch a gold-backed currency. However, neither Russia nor China has officially confirmed plans for such a currency. Craig Singleton, senior fellow at the Foundation for Defense of Democracies and a former U.S. diplomat,...
Post a Comment
Read more