Cryptocurrency adoption around the world is continually growing as a new partnership between BitPay, a leading digital currency payment service provider, and Poynt could eventually enable payment with Bitcoin in the streets, according to a report today.
BitPay, through its partnership with the point-of-sale terminal maker, Poynt will enable more than 100,000 retailers around the world to start accepting payments in cryptocurrency, especially Bitcoin.
Per the report, cryptocurrencies are yet to make that big jump into the mainstream with claims that they will revolutionize the traditional system of payments, as well as take on fiat currencies, which is what BitPay is looking to make possible.
The crypto payment provider noted that they would enable customers to experience a more convenient and faster system of payment, by simply scanning a QR code at checkout to pay for items using Bitcoin, Ether, Bitcoin Cash, and three other stablecoins.
Stephen Pair, the CEO of BitPay, said in the report: “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 seamless integration of BitPay’s blockchain payment rails with Poynt’s smart terminals allows customers a quicker, easier checkout experience, ensuring the payments are more secured compared to other methods like cash or credit cards.
“The addition of open-source, decentralized currencies like Bitcoin is a natural fit in our open-commerce environment,” the CEO of Poynt, Osama Bedier, added.
Bitcoin is worthless for payment
While BitPay is looking to push for the mainstream adoption of Bitcoin as a means of exchange around the globe, Steven Zeiler, the co-founder of Anypay said that Bitcoin is worthless as payment. Anypay is a leading point-of-sale (PoS) cryptocurrency payment service processor in New Hampshire. The company announced that they will remove Bitcoin as a payment option on their platform, Coinfomania reported.