Verifone Corporation to open up cryptocurrency access to customers
US retail payment solutions provider Verifone will provide merchants with the ability to accept cryptocurrency payments at shops and online e-commerce platforms in the US.
Cryptocurrency processor BitPay has partnered, according to a press release. The service will become available this year.
"Verifone's customer base includes many of the world's biggest and best-known brands looking to enter the growing cryptocurrency market," said BitPay co-founder and CEO Stephen Para.
Consumers will be able to use multiple wallets for payments, including Blockchain.com, BRD, MetaMask, BitPay and others.
The processing supports transactions in bitcoin, Ethereum (ETH), Dogecoin (DOGE), Bitcoin Cash (BCH), Wrapped Bitcoin (WBTC), Litecoin (LTC) and five dollar-linked stackablecoins: GUSD, USDC, PAX, DAI and BUSD.
Funds will be instantly credited to the merchant's fiat currency account.
"Together we have solved all potential problems for merchants: there is no risk of volatility or chargeback fraud, implementation costs are low and consumers will find the process very easy," said Jeremy Bialystock, head of payments at Verifone.
The company has more than 600,000 customers and processes over 10.4bn transactions with a value of $440bn annually, and has a network of around 35m terminals around the world.
The partnership gives Verifone the right to make strategic investments in BitPay.
Recall that between 28% of Arizonans and 37% in Texas and Wyoming support the use of cryptocurrencies as a means of payment, according to the survey.