Verifone will enable merchants to accept payments in cryptocurrencies

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Payment solution provider Verifone will provide merchants with the ability to accept payments in BTC, ETH, DOGE, BCH, WBTC, LTC, as well as five stablecoins: GUSD, USDC, PAX, DAI and BUSD.

How
indicated on the Verifone website, the corporation has partnered with cryptocurrency payment operator BitPay. The new solution will allow sellers to expand their customer base, facilitate the massive adoption of cryptocurrencies, and protect sellers from risks associated with cryptocurrency market volatility. As early as this year, merchants will be able to accept payments in cryptocurrencies through Verifone without the need to create an account with BitPay. Users will pay using Blockchain.com, BRD, Metamask and BitPay wallets.

When making a payment, you will need to select a suitable cryptocurrency wallet on your Verifone device and scan the QR code to complete the transaction. Funds will be instantly credited to the merchant’s bank account in traditional currency via Verifone. To do this, merchants will need Verifone Engage devices or the new line of Android devices connected to the Verifone Cloud.

“Verifone’s client base includes large and well-known global brands wishing to enter the emerging cryptocurrency market. Thanks to the partnership with Verifone, these companies will be able to easily and quickly accept cryptocurrency payments as the demand for them continues to grow, ”said Stephen Pair, co-founder and CEO of BitPay.

Jeremy Belostock, head of payments at Verifone, said that this year, the company’s customers have “increased their appetite” for payments in cryptoassets. With the market capitalization of the cryptocurrency market at over $ 1.8 trillion, buyers are looking for places to spend their digital assets. Therefore, Verifone began working on expanding payment methods, and the Advanced Payment Method platform should eliminate all potential problems that merchants may have, Bialystok explained. We are talking about the absence of risks when making transactions, low costs of implementation of the solution and an easy payment process.

This month, Shop.com, a major e-commerce platform, also began accepting payments in BTC, BCH, ETH, WBTC, DOGE, LTC and several stablecoins.

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