Verifone (a fintech firm based in America) will facilitate its consumers with enabling the option of payments with cryptocurrency via making BitPay (a service provider for Bitcoin payment) its partner in this respect. This service will be accessible in the later period of this year because it will be firstly provided just in the U.S.
The latest crypto opportunity
As per a new press release, the respective service will permit the users to utilize crypto settlements through the eCommerce-Cloud-Services and in-store platforms across the United States. With this offering, the merchants will also be allowed to expand the scope of their customer base in addition to promoting the acceptance of their digital assets. There would be no requirement for them to initiate an account on the BitPay platform because the payments would straightly come from Verifone. To initiate with, there would be six biggest cryptocurrencies as per the market capitalization, to be incorporated along with five stablecoins which would be USD-pegged.
The currency tokens to be included for payments take account of BTC (Bitcoin), BCH (Bitcoin Cash), ETH (Ethereum), WBTC (Wrapped Bitcoin), DOGE (Dogecoin), LTC (Litecoin), USDC (USD Coin), GUSD (Gemini Dollar), BUSD (Binance USD), DAI (Dai), and USDP (USD Partners LP). Customers eager to utilize the latest service would require to choose their desired crypto wallet like BitPay, Metamask, BRD, or BlockchainCom on a device of Verifone and detect the QR code as demanded. After doing this, the transfer of the funds into the bank account of the merchant would be carried out by Verifone.
BitPay’s CEO and co-founder “Stephen Pair,” remarked that the merchant base of Verifone consists of well-known brands pursuing to join the trend of cryptocurrency. The APMs Head under Verifone “Jeremy Belostock” also indicated that the desire for payments in crypto had skyrocketed this year. He added that they had tackled the entirety of the likely challenges being faced by merchants. The fraud-chargeback risk and volatility issues are no more present, facilitating the clients with an unparalleled experience of payments.
Previous partnerships of Bitpay
Recently, Apple (a famous tech company) announced to give its consumers an option to spend bitcoin, which would also be availed through BitPay cards accessible to be integrated with Apple Wallet. A prominent among the property management companies in America, “Magnum-Real-Estate-Group” allowed its purchasers to buy three shops on ground-level valuing up to $29 million. In this regard, BitPay would be responsible for processing the crypto transactions for the purchase of the respective shops. Another instance includes SHOP.com (an e-commerce portal), which collaborated with the company to facilitate its clients with purchases through BTC and a few altcoins.
