Cryptocurrency is rapidly becoming a popular option for online purchases and transactions, but it is also becoming a viable option for real-life purchases.
Ingenico, a well-regarded company that provides payment technology and services to merchants, has recently teamed up with Crypto.com to allow real-life payments for goods to be made with cryptocurrency. This is a fundamental step forward for cryptocurrency to become a fully acceptable method of payment across all businesses. The goods sold by these merchants will join hundreds of other merchandise and services available for purchase with cryptocurrency, including everything from sports cars to online gambling services. Big brands such as Tesla, Expedia, and Microsoft all now accept crypto.
Cryptocurrency can also be used as a payment method for online casinos. This includes the sites listed in this article on the top ETH casinos written by Kane Pepi. These sites allow players to use Ethereum crypto in exchange for cheap, fast, and secure transactions.
This new Crypto.com and Ingenico collaboration is estimated to open up sales from these merchants to an additional 680 million users worldwide, improving revenue for sellers across the globe and making purchasing goods easier for everyone.
For example, cryptocurrency will allow buyers to purchase goods with their own currency in a foreign country, and sellers to receive that payment in their country’s currency. Not only that, but the integrations of crypto-accepted payments will easily allow buyers to earn rewards on their purchases, providing businesses with additional incentives for their customers.
Of course, there is no plan to replace traditional payments with cryptocurrency, but having this as an additional payment method is an intelligent move to open up merchandise to a variety of different people.
When speaking on the move, Crypto.com president Eric Anziana stated, “We are on a mission to make it easier for people to use cryptocurrency in real-world payment scenarios and our partnership with Ingenico will go a long way to bringing crypto out of the web and increase its adoption as a powerful payment too. Crypto.com Pay is a secure and scalable technology, offering our customers yet another innovative way to interact with cryptocurrency–as the future of payments.”
And Ingenico’s plans to bring cryptocurrency as a regular method of payment aren’t ending here. With the aid of Crypto.com, they are in communication with various merchants to make these methods of payment a viable option for customers as soon as 2025. This service is expected to be available across multiple different countries, including the US, UK, and Asia.
The introduction of crypto payment to merchants will not be one of high complexity. All a payer needs is the blockchain address of the merchant they are buying from. This can be copied and pasted into their crypto wallet, but businesses are advised to provide a QR code for crypto payments at the checkout to help streamline the process. The ease of this, in addition to all the well-known benefits of cryptocurrency, is one of the things that makes crypto so appealing as a method of payment for real-life purchases. This payment has numerous benefits for both the merchant and the buyer.
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