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Binance, one of the world’s largest crypto exchanges, has partnered with Ingenico to launch a pilot project in France. The project will enable users to pay with cryptocurrencies in physical stores, using Ingenico‘s payment terminals. In particular, the project will start with two merchants in Paris, Le Carlie, a bar in Paris, and Miss Opera, a clothing store. So, Ingenico‘s new payment terminals will be used in these stores, allowing customers to pay with over 50 cryptocurrencies supported by Binance.
Binance’s strategy
This partnership is an innovative approach to the market that offers companies a new way to reach consumers. Jonathan Lim, head of Binance Card and Binance Pay, explains that partnering with Ingenico allows them to quickly reach consumers without the need to develop their own software or terminals. In other words, Businesses can take advantage of Binance‘s know-how and technology to receive cryptocurrency payments without the need to develop their own payment system.
Moreover, after the pilot project, Ingenico plans to deploy its new crypto payment solutions in other European countries where Binance is regulated. This marks a major milestone towards the widespread use of cryptocurrencies in Europe and demonstrates Binance‘s dedication to providing creative solutions to its users.
The perfect strategic partner
Binance chose Ingenico as its partner for the project because they’re the top company for point-of-sale terminals, with lots of experience. By teaming up, Ingenico and Binance can help more people use cryptocurrency to pay in physical stores.
It is important to note that Binance‘s partnership with Ingenico is part of its broader strategy to expand its reach in the European market. In fact, Binance has already established itself as a major player in the cryptocurrency space. Specifically, Binance US, its American subsidiary, offers a platform for US residents to buy, sell, and trade cryptocurrencies.
In a nutshell
In conclusion, the new pilot project from Binance and Ingenico lets users pay with cryptocurrency in stores in France. In fact, Binance supports over 50 cryptocurrencies, while Ingenico is widely regarded as the world’s top provider of payment terminals. So, this partnership has significant potential to promote adoption of cryptocurrency payments in physical stores across Europe. As a result, if this project turns out to be a success, it could change how crypto fans pay in stores forever.
Therefore, as Binance continues to expand its reach in the European market, we can expect to see more innovative solutions. Thus, they are to bring the benefits of cryptocurrencies to a wider audience.
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France pilots in-store crypto payments as Binance partners with Ingenico.