Prominent crypto exchange Binance and payment processor Ingenico have forged an alliance to provide digital asset payment solutions in France.
Through this partnership, customers will be able to utilize Binance Pay to make cryptocurrency payments at two locations that employ Ingenico’s payment terminal: La Carlie, a pub, and Miss Opéra, a retail store.
In accordance with the press release, users will be able to pay using over 50 cryptocurrencies through Ingenico’s AXIUM terminals.
After the pilot testing, Ingenico plans to bring its new crypto payments solution to other European nations where Binance is regulated.
Speaking more on the collaboration, the director of Binance Pay and Card, Jonathan Lim, stated,
One of the major benefits of this partnership is that it offers companies a new approach to the market. Their dominant position in the market and their innovative payment solutions allow us to accelerate our access to consumers, without having to create our own terminals or software.
“As a leading payments ecosystem accelerator, we are excited to partner with up-and-coming brands like Binance to bring cryptocurrency payments to retail for consumers around the world,” he added.
Additionally, both entities are currently working on building a crypto-to-fiat payment solution to enable payments to merchants in fiat currency. This solution will be tested in the second quarter of 2023.
Ingenico is the world’s leading company in point-of-sale terminals, with more than 40 million payment terminals deployed across 37 countries.
The latest partnerships show how resilient a crypto industry is in the face of regulatory challenges in the US and a worldwide economic downturn.
Binance, in particular, has seen a number of relationships around the globe.
Binance Push For Greater Alliances Amidst Regulatory Pushback
Recently the crypto behemoth launched a prepaid digital asset card in Brazil in collaboration with payment giant Mastercard, the trading platform announced on 20 Feb.
According to the blog post, the card will be available to all Binance users in Brazil with a valid national ID and allow them to make payments and pay bills with 13 cryptocurrencies, including bitcoin, ether, and BUSD.
Binance’s card will charge a 0.9% fee per transaction involving crypto, the firm said, adding that it will offer up to 8% in cashback with crypto and allow ATM withdrawals without any fees.
