As part of its mission to expand crypto popularity, world’s largest crypto exchange, Binance has partnered with Ingenico, a renowned provider of payment acceptance solutions. The crypto exchange announced the development in its Wednesday Twitter post. According to the post, the collaboration will enable Ingenico to avail in-store cryptocurrency payment solution in France.
In a similar post by Ingenico, it confirmed that the first pilots of the solution have already been deployed to France. Notably, the solution seems available on Ingenico’s AXIUM payment terminals. As reported, it is programmed to accept more than 50 crypto assets. By virtue of this collaboration, both Binance and Ingenico are a step ahead in the bid to foster the adoption of cryptocurrency payments.
According to Ingenico, its partnership with Binance will enable consumers to make crypto payments at physical points of sale. Beyond this, it will also allow merchants to accept payment in crypto with ease through the payment terminals of Ingenico. It is noteworthy that this collaboration signifies a major milestone in the sphere owing to the status of both partners. Recall that Binance remains the largest crypto exchange across the globe, enjoying the patronage and loyalty of more than 120 million users. Ingenico, on the other hand, has the largest base of installed payment terminals across the world. Occasioned by this development, it is expected that the dividends of this collaboration will get to a wider audience in regulated countries. More so, it will significantly impact the future of in-store payments across the globe.
Binance, Ingenico to deploy solution to France before any other country
Worthy of note that both Binance and Ingenico agreed to first deploy the solution to France as part of its pilot. Later, both firms plan to avail the solution to European countries that have granted regulatory approvals to the crypto exchange. Recall that as of press time, Binance has gained regulatory approvals in France, Spain, Italy, Sweden, Dubai and more.
Meanwhile, the executive Vice President for Innovation and Global Solutions at Ingenico, Michel Leger has reacted to the development. Leger expressed the delight of his firm to partner with an established crypto company like Binance. According to the VP, both firms share the same ambition of ensuring wider adoption of crypto payments across the world. The exec affirms the commitment of Ingenico to creating solutions capable of aiding the modern ways of payments.
More so, Jonathan Lim, the director of Binance Pay also reacted to the development. According to Lim, the partnership helps to offer companies with a new approach to the market. The director commended Ingenico for its dominant position in the market. As revealed by the exec, the innovative payment solutions of the firm allows Binance to accelerate its access to consumers.