Binance users in France can now pay with crypto at retail stores thanks to a new partnership between the world’s largest crypto exchange and Ingenico, a leading provider of in-store payment terminals.
According to Ingenico’s press release, this partnership integrates Ingenico’s AXIUM payment terminals with Binance Pay, allowing them to “accept more than 50 cryptocurrencies.” Ingenico has “the largest base of payment terminals installed in the world.”
Binance Pay is a “contactless, borderless and secure cryptocurrency payment technology designed by Binance” that allows Binance users to “shop with crypto or send crypto to friends and family worldwide.” It features “zero fees”, “lightning fast payments”, and support for over 200 cryptocurrencies.
The press release went on to say that “this partnership is broken down into several stages,” and that “this first step will allow merchants to be paid in cryptocurrencies.” Ingenico and Binance are “currently developing a crypto-to-fiat payment solution,” which will be tested in Q2 2023, in order to allow merchants to be paid in fiat currency.
Jonathan Lim, Director of Binance Pay and Binance Card, had this to say:
“One of the major advantages of this partnership is that it offers companies a new approach to the market. Their dominant position in the market and their innovative payment solutions allow us to accelerate our access to consumers, without having to create our own terminals or software.“
Furthermore, Ingenico will in the near future “include Binance on PPaaS, its payments platform as a service,” which means that “merchants whose payment service provider is connected to PPaaS will be able to quickly and easily accept in-store payments from customers using the Binance Cryptocurrency Wallet.”
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