Verifone, a payments solution company, announced that it will allow consumers to make Bitcoin payments in-store or on the eCommerce Cloud Services platform in the United States.
Verifone , the payments giant, announced Tuesday that it will allow consumers to make Bitcoin payments in-store or on eCommerce Cloud Services platforms within the United States.
Verifone’s partnership to BitPay, the largest Bitcoin payment service provider in the world, led to the creation of the new Bitcoin payment solution.
These new features will be available to U.S. Verifone merchants in the coming months. It has more than 600,000 merchants around the world and handles more than 10.4 billion transactions online and in-store annually.
Merchants using the new services will be capable of accepting Bitcoin without needing an account with BitPay. Customers will be able pay using their preferred payment method to purchase.
BitPay is yet to confirm whether lightning wallet transactions will be possible, or why certain Bitcoin wallets can only be approved for transactions.
Verifone stated in a press release that the solution “supports major wallets such as Blockchain.com, BRD and Metamask, BitPay and more.” BitPay’s Verifone payment system will allow customers to pay with many other cryptocurrencies using those wallets.
Stephen Pair, CEO at BitPay, stated that Verifone’s merchant network includes some of the most prominent and well-known brands in the world looking to tap into the growing cryptocurrency market.
“This partnership allows these companies to accept crypto payments easily and securely, and to benefit from the pent-up consumer demand to spend cryptocurrency.”
Mike Pulli, CEO of Verifone spoke about the new partnership and BitPay’s strategic investment. ‘This solution and partnership highlight Verifone’s commitment to merchants with revolutionary and meaningful payments experiences.
Pulli stated, “Our Advanced Payment Method Platform is robust, and the crypto solution with BitPay increases tremendous value for Verifone’s customers and us.”
This news comes at a moment when entire countries are starting to use the Bitcoin Lightning Network to make payments. Bitpay’s old model is being challenged. The Lightning Network has accelerated Bitcoin adoption in El Salvador. The country’s acceptance of Bitcoin has led to an increase in the Lightning Network’s capacity by 1,000 Bitcoin to almost 3,000 Bitcoin just this month.