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Pilot for In-Store Crypto Payment Acceptance

Pilot for In-Store Crypto Payment Acceptance

(23 February 2023 - Global) POS terminal manufacturer Ingenico has teamed up with Binance to pilot in-store cryptocurrency payment acceptance.

The two firms have formed a strategic partnership, developing a system that lets Ingenico's Axium terminals accept more than 50 cryptocurrencies.

Currently, the majority of in-store cryptocurrency payments require an additional device or the execution of an integration by the merchant, say Ingenico.

The technology is already being tested in France and, say the partners, is set to be made available in several countries thanks to Binance's regulatory status in places such as Spain, Dubai and Japan.

The firms are also developing a crypto-to-fiat payment offering, which will be tested in the second quarter of 2023, so that merchants can be paid in fiat currency.

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