The partnership between Crypto.com and Ingenico will benefit both merchants and consumers who shop with them.
By Chimamanda U. Martha
Edited by Julia Sakovich
Updated
3 mins read
Crypto.com, a digital asset service provider (VASP) based in Singapore, has joined forces with Ingenico to bring cryptocurrency payments into mainstream retail. This move makes a major stride towards enabling crypto as a practical option for everyday transactions.
In an announcement on November 5, the company said the partnership allows merchants in Ingenico’s network to accept crypto payments through a new solution developed by the platform as easily as they do traditional methods, potentially accelerating global crypto adoption.
The new payment solution, known as the “plug-and-play” system, has been introduced specifically to power payments for retailers. Through this integration, merchants can receive crypto payments and have them instantly converted into their preferred local fiat currencies, including the US dollar, European euro, British pound, and Australian dollar, eliminating currency risk for businesses.
Furthermore, Ingenico’s new payment solution will enable merchants to unify their payment systems across devices, making the management of crypto alongside cash and card payments streamlined and user-friendly.
According to the announcement, Ingenico is currently in talks with leading merchants supported by Crypto.com to potentially adopt the new crypto solution it created to power payments. The company plans to officially debut the system in the pilot phase in early 2025, initially targeting key regions such as North America, Europe, the UK, Asia, and Australia.
Crypto.com said the partnership benefits merchants and consumers who shop with them. Using the exchange’s Crypto.com Pay, customers will enjoy rewards with each transaction, potentially boosting interest in crypto as a payment method.
In addition to the “plug-and-play” solution, Ingenico has introduced a new merchant wallet linked directly to its AXIUM Android terminals. This wallet provides an easy and secure way for merchants to manage both crypto and fiat payments in one place.
Both Crypto.com and Ingenico aim to make crypto payments a standard in retail. Eric Anziani, Crypto.com’s President and COO, emphasized the exchange’s commitment to bringing crypto “out of the web and into the real world”, noting that the integration allows more people to engage with the emerging economy on a practical level.
Ingenico CTO Patrick Blanc called the partnership a “milestone in payment solutions”, which he believes will set a new standard for how digital currency interacts with commerce globally.
“Our partnership with Crypto.com will redefine the payments landscape by seamlessly integrating crypto payments into commerce environments. This collaboration marks a pivotal moment for merchant services worldwide, setting a new standard for innovative payment solutions moving commerce forward,” he added.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Chimamanda is a crypto enthusiast and experienced writer focusing on the dynamic world of cryptocurrencies. She joined the industry in 2019 and has since developed an interest in the emerging economy. She combines her passion for blockchain technology with her love for travel and food, bringing a fresh and engaging perspective to her work.
