Activate Crypto with BitPay – Press Release

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ATLANTA (September 28, 2021) BitPay, the world’s largest provider of bitcoin and cryptocurrency payment services, and Verifone, a global leader in FinTech and payment solutions provider for the world’s largest retail brands , today announced the extension of BitPays blockchain payment technology to enable consumers to pay in cryptocurrency on the Verifones in-store and eCommerce Cloud Services platforms in the United States. The new solution allows traders to expand their customer base and promote acceptance of crypto while being shielded from the price volatility of cryptocurrency markets. Merchants will start rolling out the solution later this year.

The solution is easy to implement for merchants and intuitive for consumers. Merchants will be able to accept crypto payments directly from Verifone without the need for an account with BitPay. The consumer will be able to pay transparently using approved crypto wallets. With over 100 million crypto wallets in use globally, consumers will enjoy this simple one-step transactional model by using their preferred native wallet to make a direct purchase with their cryptocurrency. The solution supports major wallets like Blockchain.com, BRD, Metamask, BitPay, etc. to make purchases in Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Bitcoin Cash (BCH), Wrapped Bitcoin (WBTC), Litecoin (LTC) and 5 stable coins linked to the USD (GUSD, USDC, PAX, DAI and BUSD).

At checkout, consumers will select their preferred crypto wallet on a Verifone device and scan an onscreen QR code using their crypto wallet to complete the transaction. Once the crypto funds are verified, the merchant will receive an approval message on the in-store terminal. The funds will be settled promptly to the merchant’s bank account in traditional currency (eg USD) via Verifone.

Verifones’ merchant base includes many of the world’s largest and most well-known brands looking to tap into the growing crypto market, said Stephen Pair, co-founder and CEO of BitPay. This partnership allows these companies to easily and securely accept crypto payments and benefit from pent-up consumer demand to spend on crypto.

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