Binance has just announced a partnership with payment services firm Ingenico. It will make it possible to offer more means of payment in cryptocurrencies in stores in France. What can we expect?
Binance and Ingenico Partner to Drive Cryptocurrency Acceptance in France
As a press release from the firm explains, the strategic partnership between Binance and Ingenico has already made it possible to deploy pilots in France. The solution is based on the Axium payment terminal solution, which is produced by Ingenico. At this stage, it allows to accept more than 50 cryptocurrencies.
Interest is a turnkey solution for merchants, who have a terminal that supports multiple payment methods:
” Currently, the majority of in-store cryptocurrency payment solutions require an additional device or the execution of an integration by the merchant, while this solution allows merchants to have an all-in-one device. »
This is a big step for Binance, with Ingenico’s devices being the largest base of payment terminals in the worlde. It also makes it possible to meet a need of cryptocurrency users, who wish to be able to spend them more easily in local businesses. According to the statement, 93% of cryptocurrency holders said they would use cryptocurrencies to make purchases if given the option.
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An upcoming crypto-fiat payment solution
For now, these are cryptocurrency payments, but Ingenico and Binance are working on a second solution, to automatically transform crypto assets into fiat currencies. In this way, French customers will be able to deposit cryptocurrencies, and merchants will receive euros directly. This can allow a wider swath of merchants to start using cryptocurrency, and it’s a payment method that’s already resonating with Binance’s competitors.
Jonathan Lim, the director of Binance Pay, welcomed this partnership with Ingenico, which makes it possible to make use of an already solidly established ecosystem:
” One of the major advantages of this partnership is that it offers companies a new approach to the market. Their dominant market position and innovative payment solutions allow us to accelerate our access to consumers, without having to create our own terminals or software. »
The giant Binance therefore continues to multiply partnerships, and confirms its vast ambitions in terms of the services offered.
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Source: press release
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Journalist at Cryptoast, I fell into the pot of cryptocurrencies a few years ago. I am passionate about the innovative technologies that stem from the blockchain and I like to find the most crispy information to share with you.
Marine Debelloir
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