Binance and Ingenico to launch in-store crypto payments in France via Binance Pay
Binance has announced a partnership with the international credit card service company Ingenico. The main goal of the cooperation is to create a new payment solution that accepts more than 50 cryptocurrencies.
According to an announcement of February 22, in-store crypto payments will be made via Binance Pay. The initial testing of this function will be available on Ingenico Axium payment terminals in France. The pilot project will be launched in Q2 of 2023. The first such terminals will appear in Miss Opéra and Le Carlie.
It is noted that the new solution will make onboarding easier for merchants and consumers. In order to accept crypto payments via the terminal, the merchant needs to register on Binance Pay and select one of the digital currencies from the list.
According to Jonathan Lim, head of Binance Pay, the partnership with Ingenico allows the company to offer consumers a new service. Ingenico’s modern payment solutions and their market leadership will accelerate access to consumers, and Binance Pay does not need to develop its own software and terminals.
Binance also plans to expand the list of European countries where the payment solution will be available. At the moment, the company has permission to operate in France, Italy, Lithuania, Spain, Cyprus, Poland and Sweden.
Over the past year, Binance has developed many payment solutions worldwide. Recently, the company and Mastercard launched a crypto card in Brazil. In August 2022, such a card was successfully launched in Argentina.