Binance and Ingenico are launching a joint pilot project in France to allow merchants and service providers to accept crypto payments.
Cryptocurrency exchange Binance announced a partnership with Ingenico, one of Europe’s largest providers of digital payment solutions. As a result of their partnership, French residents will be able to pay in cryptocurrencies for goods and services through Ingenico terminals using Binance Pay.
The pilot project has already been launched, with selected businesses from the retail and hospitality sectors participating so far. Merchants and service providers will initially be paid in crypto, but an automatic conversion feature is scheduled to be available in Q2 2023, so merchants can receive payments in fiat currency when paying with digital assets.
Ingenico terminals offer an all-in-one technical solution that requires no additional integration. The Ingenico AXIUM engine processes payments in more than 50 cryptocurrencies. Binance and Ingenico’s plans to introduce crypto payments extend to entire Europe. In addition to France, Binance already has licenses to work in Cyprus, Spain, Italy, Sweden, Lithuania, and Poland.
It’s worth noting the activity of major payment companies to implement crypto payments. For example, in early 2023, Binance and Mastercard announced the release of a prepaid crypto card in Brazil. And only a few days ago, Mastercard unveiled a partnership with a financial services provider, Immersve, to allow residents of Australia and New Zealand to use USDC to pay for goods and services.
