Payment solution giant Verifon announced on Tuesday that it would enable Bitcoin payments for consumers on in-store and ecommerce cloud service platforms in the United States.
Bitcoin Payment Solutions A new Bitcoin payment solution has emerged from Verifone’s partnership with BitPay, the world’s largest provider.
The new features will be rolled out to US Verifone merchants later this year. The company has more than 600,000 merchants worldwide and handles more than 10.4 billion online and in-store transactions annually.
Significantly, merchants who use the new service will be able to accept Bitcoin without an account on BitPay. Customers will be able to pay with the payment wallet of their choice to make a purchase.
It is not yet clear whether BitPay Lightning Wallet will enable transactions, or why only certain Bitcoin wallets will be allowed for transactions.
“The solution supports blockchain.com, BRD, Metamask, BitPay and more,” Verifon said in a press release. BitPay’s Verifon payment solution will enable customers to make payments through many alternative cryptocurrencies using those wallets.
“Many of the world’s largest and well-known brands want to enter the growing crypto market with Verifone’s merchant base,” said Stephen Pierre, CEO of BitPay.
“This partnership allows these businesses to accept crypto payments easily and securely and increases consumer demand for crypto spending.”
Speaking on the new partnership and his company’s strategic investment in BitPay, Verifone CEO Mike Puli said, “This partnership underscores Verifone’s commitment to enabling revolutionary and meaningful financing experiences for investment businesses.”
“Our advanced payment method platform is robust, and this crypto solution, including BitPay, adds tremendous value to Verifone and our customers,” Puli concluded.
The news comes at a time when entire countries have begun to lean towards the Bitcoin Lightning Network to make payments, distorting the traditional Bitcoin model. Lightning Network has taken over the adoption and use of Bitcoin in El Salvador. Embracing the Bitcoin Nation The total Lightning network capacity has driven 1,000 bitcoins, to about 3,000 bitcoins this month alone.