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February 12, 2020

BitPay, Poynt partner to enable crypto payments through POS devices

BitPay has entered into a new partnership to enable cryptocurrency payments with Poynt’s Smart Terminal POS devices.

The integration will enable Bitcoin and other cryptocurrency payments across 100,000 retailers worldwide with Poynt’s Smart Terminal POS devices.

Customers are required to scan a QR code at checkout to pay the merchants.

The Poynt’s devices with accept several cryptocurrencies including Bitcoin, Bitcoin Cash, Ethereum, and three dollar-pegged stablecoins.

With the partnership, BitPay also marks its entry to in-store payments on a large scale.

The step is also expected to enable faster checkout compared to conventional processes involving credit cards or cash.

BitPay CEO and co-founder Stephen Pair said: “We’re thrilled to team up with Poynt, who’s proven to be a real driver of point of sale innovation.

“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.”

Poynt founder and CEO Osama Bedier said: “Poynt was built on the idea of open commerce. Poynt OS lays the foundation for developers and merchants to collaborate and drive limitless growth.

“The addition of open-source, decentralised currencies like Bitcoin is a natural fit in our open-commerce environment.

“BitPay pioneered blockchain payments and without question they were the company we trusted to bring us into the next generation of payments.”

Earlier this month, BitPay introduced a service to enable BitPay invoice payments from all Bitcoin wallet or exchanges.

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