BitPay and Ingenico are teaming to enable brick and mortar stores to accept payment in bitcoin through a traditional point of sale (POS) device. The project is an industry first, allowing a POS terminal device to receive a digital currency payment.
While bitcoin is most often used for ecommerce payments, the current Ingenico and BitPay project will make it possible to introduce bitcoin payments to retail merchants on a global scale.
Ingenico and BitPay presented a demo on the 6th of October as part of the Blockchain Week event, which is being held in Barcelona through the 8th of October. The bitcoin payment integration has been developed by BitPay and installed on an Ingenico terminal ICT250. Customers can pay using bitcoin in three simple steps. First, the merchant enters the amount of the order in his local currency. The device shows a QR code with the corresponding bitcoin amount, which the customer then scans to pay with his mobile phone.
BitPay is the global leader in bitcoin payments, with offices throughout North America, Europe, and South America. The company has raised over $32 million from top investors including Index Ventures, Founders Fund, and Sir Richard Branson.
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