Ingenico, the global leaders in electronic payments processing is now going “truly global” by including bitcoin payments support to its service. The company has partnered with BitPay, a well-known bitcoin payment service provider to extend its services to digital currency as well.
Ingenico is a Paris, France based financial services company that offers a wide range of payment solutions across the world. Ingenico specializes in mobile Point of Sale (PoS), ecommerce, online payments, smart terminals and other services. The announcement about its partnership with BitPay along with news about new integration to its payments system was made by the company on Tuesday. With the new integration, merchants using Ingenico’s payment service can now accept bitcoin payments.
The new service was introduced in the Blockchain Week which is happening at Barcelona, Spain. The new POS device with bitcoin feature is demonstrated at the event. Ingenico has its ICT250 Mobile POS system with BitPay integration on display at the event and they were also allowing visitors to cash in their bitcoins using their new terminal.
Ingenico has been striving hard to stay ahead of the game in the payments industry. By integrating bitcoin payments to their Mobile POS terminal, the company has become the first one to offer bitcoin and fiat POS terminals for physical stores.
The partnership between two payment giants also spells good news for BitPay a well. Until now bitcoin payments were mostly confined to ecommerce and online payments. This collaboration will provide BitPay with access to both online and physical commerce.
The bitcoin ecosystem can also potentially benefit from the new POS system, especially at a time when merchants in Australia and other places are moving away from bitcoin. A single POS device for handling both fiat and bitcoin may make it easier for merchants to continue accepting bitcoin. It will also make bitcoin adoption among new merchants easier.