Global Payment Giant Ingenico Now Accepting Bitcoin: Details

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Godfrey Benjamin

Ingenico and Binance teamed up to float Bitcoin payment option in France

Despite the Fear, Uncertainty and Doubt (FUD) that has rocked the digital currency ecosystem in the past week global fintech firm Ingenico is bullish on Bitcoin (BTC). In partnership with the world’s largest crypto trading platform Binance, Ingenico has launched a way for its customers to make payments in Bitcoin.

According to the update from the trading platform, Bitcoin payments will be facilitated through Binance Pay and will be opened to users in France to start with.

The Bitcoin solution is also available through Ingenico’s AXIUM Payment terminals, and beyond BTC, it will also support the receipt of payments in 49 other digital currencies.

“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,” said Michel Léger, Executive Vice President for Innovation and Global Solutions at Ingenico.

According to the announcement, the crypto acceptance will help merchants receive payment in crypto as well, but it reassured observers that the duo is developing a crypto-fiat gateway that will serve as an off-ramp for merchants. This will create a safe bet for all sellers as transactions can be received in fiat in real time.

Driving Bitcoin utility

While the millions of merchants connected to Ingenico will find the new offering a very helpful one, the partnership is a testament to the growing number of entities working to expand the Bitcoin ecosystem.

Besides the embrace of the asset by institutional investors like MicroStrategy and BlackRock, the utility drive behind Bitcoin counts as one of its biggest attraction points for the future. Despite the known bearish stance of top economist Peter Schiff concerning Bitcoin, he did not mind accepting the cryptocurrency as a payment option at his now-closed EuroPacific Bank in Puerto Rico.

Beyond Binance, other key players are also doing all they can to promote Bitcoin’s use case through its acceptance as payment for goods and services.