• Binance and Ingenico have announced a new partnership in France which allows in-store payments via Binance Pay.
• The initial test of this offering is only available on Ingenico Axium payment terminals in France, accepting more than 50 cryptocurrencies.
• A crypto-to-fiat solution allowing merchants to receive fiat payments is set to pilot in Q2 of 2023.
Binance and Ingenico Announce New Partnership
Binance and the credit card service company Ingenico have announced a new partnership that will allow customers to make in-store payments via Binance Pay. This pilot program is currently available on Ingenico Axium payment terminals located in France, and accepts over 50 different cryptocurrencies as payment.
Crypto-to-Fiat Solution Set for Pilot
The new partnership also includes a crypto-to-fiat solution which allows merchants to receive payments from customers in fiat currency instead of cryptocurrency. This solution is set to be piloted during Q2 of 2023, with additional European countries being added soon after.
Initial Test Pilots with Two Merchants
The initial test pilots are currently running with two merchants, Le Carlie and Miss Opéra, both located within the hospitality and retail sectors respectively.
“All-in-One” Devices Make Onboarding Easier
Typically, when it comes to devices such as these, they require some form of integration before they can start being used with cryptocurrencies; however this new solution claims to be an “all-in-one” device which makes onboarding easier for both merchants and consumers alike.
Jonathan Lim’s Statement
Jonathan Lim, head of Binance Pay and Binance Card called the all-in one device a “new way to approach the market” which will “accelerate access to consumers.”