BitPay and Verifone launched a new solution that will allow merchants in the United States to accept payments with bitcoin and other cryptocurrencies, thereby aiming to increase their customer base and promote crypto acceptance while being protected from digital assets market price volatility.

The announcement was made by both companies, through a joint statement, where they indicate that “by the end of the year 600,000 businesses will be able to start accepting payments with bitcoin (BTC).” They highlighted that the alliance will allow “that once the purchase with cryptocurrencies is made, the funds are transferred to the merchant’s bank account in fiat money, through Verifone, once BitPay has approved the transaction.”

It is important to note that merchants that use this new tool will not have the need to register with BitPay and remember that Verifone works with “recognized companies in the United States such as American Eagle Outfitters, Macy’s, Williams Sonoma, Taco Bell and Whole Foods.”

As expressed by Mike Pulli, CEO of Verifone, the corporation is examining new alternative payment methods and will now “support crypto transactions due to the growing public interest in cryptocurrencies: “We believe that having crypto available on our terminals will provide more options and opportunities for consumers. This opens up a way that has never been seen before in a terminal and we want to be at the forefront of this trend”, he expressed.

For his part, the CEO of BitPay, Stephen Pair, indicated that the platform facilitates the processing of crypto transactions, “Verifone clients request crypto payments. This has become a success, as today there are millions of cryptocurrency users who have blockchain wallets on their phones that they want to take advantage of ” and with this alliance it is possible to do so.

Jeremy Belostock, an executive at Verifone, expressed that his company is witnessing the profound changes that consumers have been experiencing as a result of Covid-19 and currently millions of people are trusting mobile wallets for being fast and secure payment methods: “There has been a shift from having a credit card to having a reliable mobile app that consumers want to take advantage of to spend. We are taking advantage of this market to bring cryptocurrencies to the general public.”

The alliance will allow consumers to use their preferred wallets to make their purchases in cryptocurrencies.

M. Rodríguez

Source: Cointelegraph.com

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