On February 11, the Atlanta-based payment processor Bitpay announced the firm’s recent partnership with the company Poynt. Now retailers will be able to support cryptocurrency payments using point-of-sale devices and crypto users will be able to pay with digital currencies at more than 100,000 Poynt retailers worldwide.
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Crypto Payments Available at 100,000 Poynt Retailers
Bitpay has revealed the company is collaborating with the open commerce platform Poynt in order to bolster crypto payments worldwide. On Tuesday, Bitpay announced the integration of BitPay’s cryptocurrency payments service with Poynt’s Smart Terminal point-of-sale (PoS) devices. “With just the scan of a QR code at checkout, consumers can now pay merchants using Poynt’s devices with the currency of their choice, including bitcoin, bitcoin cash, ethereum, and three dollar-pegged stablecoins,” the firm disclosed. Bitpay already processes over a billion dollars in crypto payments every year and the firm’s CEO and cofounder Stephen Pair is excited about expanding with the new partnership.
“We’re thrilled to team up with Poynt, who’s proven to be a real driver of point of sale innovation,” Pair noted during the announcement. “It’s a massive growth opportunity for Bitpay and an important milestone in our now nine-year mission to make payments faster, more secure and less expensive for people and businesses.”
The Poynt point-of-sale (PoS) smart terminal.
Poynt Believes Crypto Will Help Expand the Firm’s Growth
Poynt is known for building it’s Smart Terminal PoS device that works with an app and can “easily email receipts, refund transactions, and settle with the tap of a button.” Devices have a hybrid MSR/chip reader and the machine supports major NFC/contactless schemes. It also has a front and back camera like a smartphone and connects to WiFi, with optional features like LTE/3G cellular modem support as well. Poynt PoS devices further support audio and they come with a stereo speaker and built-in microphone. The firm thinks expanding payment options to include digital currencies is simply a natural progression.
“Poynt was built on the idea of open commerce,” the company’s founder and CEO Osama Bedier said. “Poynt OS lays the foundation for developers and merchants to collaborate and drive limitless growth. The addition of open-source, decentralized currencies like Bitcoin is a natural fit in our open-commerce environment.”
Bitpay and Poynt’s partnership enables cryptocurrency payments at point-of-sale at 100,000 locations worldwide.
According to Bedier, Poynt recently touched a milestone of nine billion dollars in gross payment volume in a twelve-month period. The open commerce firm believes expanding to crypto payments will keep that trend going forward.
What do you think about Bitpay partnering with Poynt’s open commerce infrastructure? Let us know what you think about this subject in the comments section below.
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Image credits: Shutterstock, Poynt , Bitpay , Fair Use, Wiki Commons, and Pixabay.
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