Cryptocurrency exchange Binance wants to develop crypto payments at retail locations in France. To this end, Binance has partnered with Ingenico, a company that provides payment terminals. For now, crypto payments are only available on Ingenico’s AXIUM payment terminals. Initial pilots are also being tested in two Parisian stores. Binance and Ingenico plan to expand crypto payments to other European countries.
Binance partners with Ingenico to enable crypto payments in France
Cryptocurrency payments could soon make their way into retail stores in France. After acquiring official registration in France, Binance is now working to expand crypto payments in France. For this fact, the largest cryptocurrency exchange has announced a partnership with the company Ingenico, a supplier of payment terminals. A video showing a customer paying in crypto in a clothing store in France was even published by Binance.
A press release provides more information on the partnership Binance-Ingenico. Thanks to this partnership, consumers will be able to use Binance Pay to pay at physical points of sale in France. In addition, businesses equipped with the terminals Ingenico will be able to easily accept cryptocurrency payments. An automatic exchange rate will be offered every minute to businesses accepting crypto payments. This should allow a fast and smooth user experience hope Binance and Ingenico.
For now, cryptocurrency payments are only available on Ingenico’s AXIUM payment terminals. For the rest of the terminals, Binance and Ingenico are in the experimental phase. The first pilots have already been deployed in France and will be tested in the restaurant Le Carlie and in the Miss Opéra store in Paris.
Eventual deployment of crypto payments in Europe
Binance and Ingenico are not planning to stop the deployment of crypto payments in France alone. The two companies plan to expand this payment solution to other European countries where payment terminals are already based Ingenico.
Binance will only deploy crypto payments in European states where it is legally registered as a provider of digital asset services. In addition to France, it is therefore the Sweden, Italy, Spain, Poland, Cyprus and Lithuania.
This cryptocurrency payment solution will also soon be deployed in Europe, in countries where cryptocurrencies and Binance have been regulated, through the integration of Binance Pay into Ingenico’s payment terminals.
Binance press release.
The partnership between Binance and Ingenico could boost the adoption and use of cryptocurrency. Nevertheless, the fact that France taxes crypto gains by 30 percent cools down expectations. Still, the ability to pay in crypto is a reminder that these assets are not useless, as some try to assert.
I dream of a world where every citizen has total control over themselves, including their finances. I believe that Bitcoin is one of the tools that will achieve this revolution. Since 2019, I am learning about this cryptocurrency and spreading the word around.
