Binance, a well-known cryptocurrency exchange, and Ingenico, a payment processing company, have partnered to offer digital asset payment solutions in France.
Binance Pay now accepted at La Carlie pub and Miss Opéra retail store via Ingenico payment terminals. This collaboration has expanded the reach of Binance Pay and made it more convenient for customers.
According to the press release, Ingenico’s AXIUM terminals will enable users to make payments using more than 50 cryptocurrencies.
Ingenico plans to make its cryptocurrency payment solution more widely available across Europe. The expansion will take place in countries regulated by Binance after successful pilot testing.
The director of Binance Pay and Card, Jonathan Lim, explained further about the collaboration, emphasizing that it provides companies with a fresh perspective on the market. By leveraging Binance’s dominant market position and cutting-edge payment solutions, businesses can accelerate their access to consumers without the need to develop their software or terminals.
The crypto industry has faced challenges due to regulatory hurdles in the US and a global economic downturn. However, the industry has shown resilience by forming new partnerships, indicating its ability to adapt and grow.
Moreover, the two parties are collaborating on developing a payment system that facilitates crypto-to-fiat transactions for merchant payments in fiat currency. The testing of this solution is scheduled to take place in Q2 2023.
Ingenico leads the global POS terminal market, with 40 million+ deployed in 37 countries, making it the top company. The crypto industry has faced challenges due to regulatory hurdles in the US and a global economic downturn. However, the industry has shown resilience by forming new partnerships, indicating its ability to adapt and grow. Binance, in particular, has established numerous connections across the globe.
Binance & Mastercard Team Up To launch Prepaid Digital Asset Card In Brazil
On Feb 20, the trading platform announced a collaboration with payment giant Mastercard to launch a prepaid digital asset card in Brazil, according to reports. The crypto behemoth made this move.
The blog post states the card would be accessible to all Brazilian Binance users with a legitimate national ID. It would let them pay their bills and purchase using 13 cryptocurrencies, including bitcoin, ether, and BUSD.
Related Reading | Unpredictable Markets: Hut 8 CEO Talks Bitcoin Mining Challenges
Binance’s card will charge a 0.9% fee per crypto transaction, as stated by the company. The card offers up to 8% cashback in crypto and fee-free ATM withdrawals.
This article conveys general information and the opinions expressed should not be considered personal advice for any individual or specific security or investment product.