On February 11, Bitpay, the world’s largest provider of blockchain payment services announced its partnership with the world’s first open commerce platform Poynt to facilitate crypto payments around thousands of retailer worldwide. This would finally bring Bitcoin to the streets enabling retailers as well as crypto users pay and get paid in digital currencies. These point-of-sale devices would be made available at more than 100,000 Poynt retailers around the world.
Amid the claims that Bitcoin would revolutionise payment and take on fiat currencies, the leading cryptocurrency has yet to make its move in the mainstream. Through the Poynt partnership, BitPay is trying to change this by making it widely and easily accessible on retail stores. With the point-of-sale device, users would be able to pay the merchants not only with Bitcoin but Bitcoin Cash, Ethereum and other three stable coins by scanning a QR code at checkout.
A Massive Growth Opportunity For Bitpay And Poynt
The Atlanta-based payment processing firm says that its blockchain payment system by integration with Poynt’s smart terminals would make the checkout experience smooth, easier, quicker and more secure as well unlike the traditional methods like cash and credit cards.
Bitpay already processes crypto payments in billions every year, and the firm’s CEO and co-founder, Stephen Pair is excited about extending its footprints with the latest partnership with Poynt.
According to BitPay CEO, Stephen Pair, the partnership would offer a massive growth opportunity for the firm that would enable fast, cheap and more secure payments for businesses as well as individuals.
Built on the idea of open commerce, Poynt OS sets the foundation for merchants and developers to drive limitless. “The addition of open-source, decentralised currencies like Bitcoin is a natural fit in our open-commerce environment.” said the CEO of Poynt, Osama Bedier.