The partnership between Bitpay and Verifone will allow merchants in the US to accept crypto payments, facilitating a range of tokens later this year, according to a statement by the companies on Tuesday.
This is the latest partnership between the crypto payment processor BitPay and Verifone, one of the world’s largest credit card machine providers, providing the ultimate in everyday coin payments.
Bitpay and Verifone are working together to accept crypto payments for US merchants
While the crypto industry is constantly working to extend decentralization to everyday transactions, retailers remain concerned about the price volatility of digital assets. When the El Salvador government made Bitcoin legal tender, there was still no guarantee of favorable liquidity, which sparked anti-crypto protests. However, BitPay claims that it offers protection against price volatility and liquidity issues as funds are transferred to the merchant’s bank account in traditional currency immediately after the transaction is completed.
“We have always felt that it is only a matter of time before people expect to be able to pay with crypto when they pay with Mastercard and Visa … This development will accelerate that. Consumers will only expect it to be an option. “BitPay CEO Stephen Pair said in an interview, according to Bloomberg.
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Potential brands for the Bitpay and Verifone partnership
The Bitpay and Verifone partnership agreement does not contain any conditions or time frame for this crypto partnership. However, these two giants in their respective fields could launch the most accessible payment gateway for crypto and non-crypto communities. Additionally, the companies have not announced any brands that will participate in the crypto partners’ payment gateway services, but the market is being flooded with speculation as to which existing Verifone customers will be part of the deal. These customers include big names like American Eagle Outfitters, Macy’s, Williams Sonoma, Taco Bell, and Whole Foods.
“We just want to give consumers options … 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 how they want. “said Mike Pulli, CEO of Verifone, in an interview.
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