Verifone and BitPay has announced a partnership that would allow consumers pay for goods using crypto.
Oluwapelumi Adejumo · September 30, 2021 at 5:00 pm UTC · 2 min read
Per a Bloomberg report, the next time you might be buying a Taco Bell, you could be able to make payment for your order using the popular meme coin, Dogecoin, or other popular large-cap cryptocurrencies.
Verifone and BitPay partner for crypto pay out machines
According to the report, BitPay Inc, a leading crypto payment processor is partnering with Verifone, one of the largest providers of payment processing machines that accepts credit cards or Venmo at checkout lines to enable crypto payment via the machines.
A statement credited to the two companies revealed that the newest Verifone machines would support different crypto tokens and wallets before the end of the year.
Many merchants who have declined the acceptance of crypto assets as a payment option for their products have always cited concerns about the volatile nature of the industry.
BitPay, with the new development in view, has revealed it would look to better protect those who accept digital assets as it would make sure that the fiat value of the crypto is paid promptly into the merchant bank account immediately after a transaction is completed.
Speaking on the partnership in an interview, the chief executive officer of Verifone, Mike Pulli, stated that the partnership is geared towards offering the consumers more options when they want to make payments for their goods and services.
In his words, “If they decide to buy a pizza with Visa or AmEx or crypto, we don’t care. We just want to give them the flexibility to pay the way they want to.”
On the other hand, BitPay’s CEO, Stephen Pair, stated his belief that the partnership is proof of the growth of the crypto industry.
We’ve always felt it was a matter of time before people had an expectation they could pay with crypto as they pay with Mastercard and Visa.
It is interesting to note that this partnership would make Verifone one of the latest firms seeking ways to simplify crypto payments and drive mass adoption.
Just last week, social giant Twitter introduced Bitcoin tipping to its millions of users. Similarly, a fintech firm, PayPal, has continued to relentlessly pursue ways of simplifying crypto access to its users.
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