BitPay Partners With Verifone to Enable Crypto Payments
- The partnership will enable Verifone merchants to securely accept crypto payments.
- The service will roll out to customers in the U.S. later this year.
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Verifone, a payment solution provider to the world’s largest retail brands, announced it has partnered with BitPay. According to a press release published on 28 September, Verifone will use BitPay’s blockchain technology to enable cryptocurrency payments on its in-store and e-commerce cloud service platforms in the U.S.
“Verifone’s merchant base includes many of the world’s largest and most well-known brands looking to tap into the growing crypto market,” said Stephen Pair, the Co-Founder and CEO of BitPay. “This partnership allows these businesses to easily and securely accept crypto payments, and benefit from pent up consumer demand to spend crypto.”
Jeremy Belostock, the Head of APMs at Verifone, said the appetite for cryptocurrency payments has exploded this year among Verifone’s users. By partnering with BitPay, the company was able to solve the challenges its merchants might face when dealing with cryptocurrencies without sacrificing convenience for users, he explained.
The joint solution will be easy to implement for merchants and intuitive to use for consumers. The company said interested merchants will be able to accept cryptocurrency payments directly from Verifone without having to set up an account with BitPay. Consumers will be able to pay through approved crypto wallets, which include Blockchain.com, BRD, Metamask, BitPay, and others. Once BitPay processes the payment, the funds will be settled into the merchants’ bank accounts in fiat currency via Verifone.
Verifone said the solution will roll out later this year and support payments in Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Bitcoin Cash (BCH), Wrapped Bitcoin (WBTC), Litecoin (LTC), and 5 USD-pegged stablecoins (GUSD, USDC, USDP, DAI, and BUSD).
- Google Cloud will enable crypto payments early next year, though the feature will initially be available only to a select group of customers already active in web3.
- As part of the deal, Coinbase has agreed to move some of its data-related applications from Amazon Web Services to Google Cloud.
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- The exchange, which will reportedly launch within a month, plans to initially support Bitcoin, Ethereum, and Pax Dollar.
- PicPay’s stablecoin pegged to the Brazilian real, called the Brazilian Real Coin (BRC), is expected to launch by the end of the year.
- During a Twitter virtual all hands on deck meeting, billionaire Elon Musk said “it would make sense to integrate payments into Twitter”, including crypto.
- The CEO of Tesla and SpaceX also noted that his goal for Twitter was to “maximize the usefulness of the service”, and that enabling convenient payments was one way to do it.