According to a tweet, Binance has partnered with French payments solutions firm Ingenico to allow in store payments in France and improve global crypto adoption.
Binance Pay will first be available on Ingenico’s payment platform as a service (PPaaS) ecosystem. Retailers whose payment service providers are linked to Ingenico’s PPaaS can quickly process customers in-store payments using the Binance crypto wallet.
Crypto payments just got easier in France 🇫🇷— Binance (@binance) February 22, 2023
We've recently partnered with @ingenico, a global payment solutions provider, to enable users to pay in crypto through #Binance Pay.
Another milestone for global crypto adoption 🤝 pic.twitter.com/S8f8Pab7nW
Michel Léger, Executive Vice President for Innovation and Global Solutions at Ingenico said, "As a leading payment ecosystem accelerator, we are excited to partner with up-and-coming brands like Binance to bring cryptocurrency payments to retail for consumers around the world. Ingenico, which strives to create solutions adapted to the modern world of payments, partners with experts to ensure that consumers benefit from a smoother transaction process, whatever their method of payment."
The first stage of the partnership will allow vendors to be paid in crypto. Both the companies are still working on a crypto to fiat payment mechanism to enable payments to merchants in fiat currency. Binance plans to have this system in beta testing in the second quarter of 2023.
As of now, cryptocurrency payments are only available on Ingenico’s AXIUM payment terminals. For the rest of the terminals, Binance and Ingenico are in the experimental phase.
This partnership will facilitate Binance Pay in two outlets with Ingenico’s payment terminal: one at a bar called Le Carlie and the other at Miss Opéra, a clothing store.
Ingenico claims to have 45 years of experience in the field. Compared to this, the CZ-led exchange is fairly new. Therefore, with the Ingenico tie-up, the exchange is undergoing further adoption. The payment solution is expected to debut in 2023, and it will boost Binance’s presence in France.
Georgia 🤝 Crypto payments#Binance Pay partners with https://t.co/ZdT64PEeK1, allowing users in the region to not only secure Wendy's with crypto but also spend at more than 600 other vendors, including major hotels, restaurants, and supermarkets.— Binance (@binance) February 28, 2023
Global crypto adoption 📈 pic.twitter.com/lLzrVPm3ge
Binance Pay has partnered with CityPay, a leading Georgian based cryptocurrency payment system. This collaboration is expected to offer numerous benefits to the Georgian crypto community which includes allowing them to use digital assets for making online purchases or payments via POS terminals. According to the announcement, this partnership is a major step towards allowing users in Georgia to spend at more than 600 other vendors, including major hotels, restaurants, and supermarkets.
Eralp Hatipoglu, Co-Founder and CEO of CityPay said, "the demand for crypto payments in Georgia has been rapidly increasing. To accommodate this growth, the company partnered with Binance to create an environment where businesses can offer customers a new, convenient payment option."
Binance plans to collaborate with local companies in all sectors to provide Georgian customers with unlimited options through Binance Pay.
As per 2022 survey, 128 million people were registered on the exchange and 22 million had begun using Binance Pay but together they have conducted over $48 billion worth of transactions. It is clear that the cryptocurrency adoption in Georgia is rapidly developing.
Many countries are moving towards crypto adoption as some days back Australia also announced the regulation of crypto assets.
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