ATLANTA (September 28, 2021) – BitPay, the world’s largest provider of bitcoin and cryptocurrency payment services, and Verifone, a global FinTech leader and payment solution provider to the world’s largest retail brands, today announced the extension of BitPay’s blockchain payment technology to enable consumer cryptocurrency payments on Verifone’s in-store and eCommerce Cloud Services platforms in the United States. The new solution enables merchants to broaden their customer base and promote crypto acceptance while being protected from the price volatility of the cryptocurrency markets. Merchants will begin rolling out the solution later this year.
The solution is easy for merchants to implement and intuitive for consumers. Merchants will be able to accept crypto payments directly from Verifone without the need for an account with BitPay. The consumer will be able to pay seamlessly using approved crypto wallets. With over 100 million crypto wallets in use globally, consumers will enjoy this straightforward, one-step transactional model using their preferred native wallet to make a direct purchase with their cryptocurrency. The solution supports major wallets like Blockchain.com, BRD, Metamask, BitPay, and more to make purchases in Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Bitcoin Cash (BCH), Wrapped Bitcoin (WBTC), Litecoin (LTC), and 5 USD-pegged stablecoins (GUSD, USDC, PAX, DAI, and BUSD).
At checkout, consumers will select their preferred crypto wallet on a Verifone device and scan an on-screen QR code using their crypto wallet to complete the transaction. Once the crypto funds have been verified, the merchant will receive an approval message on the in-store terminal. Funds will be settled promptly into the merchant's bank account in traditional currency (e.g. USD) via Verifone.
“Verifone’s merchant base includes many of the world’s largest and most well-known brands looking to tap into the growing crypto market,” said Stephen Pair, co-founder and CEO of BitPay. “This partnership allows these businesses to easily and securely accept crypto payments, and benefit from pent up consumer demand to spend crypto.”