BitPay, Poynt Partner To Enable Crypto Payments At 100,000 PoS Devices

News | February 12, 2020 By:

Crypto payment processor BitPay has signed a deal with point-of-sales terminal maker Poynt to enable crypto payments at more than 100,000 retailers around the world.

BitPay is a crypto payment processor with a customer base of over 20,000 businesses globally. Its suite of products enables businesses to send and receive cross border payments, and enables consumers to manage digital assets with the BitPay Wallet and turn digital assets into dollars with the BitPay Prepaid Visa Card. In 2018, the company has been granted a BitLicense by the New York Department of Financial Services (NYDFS).

Founded in 2013, Poynt is an open commerce platform empowering merchants with software and services to transform their business. As smart terminals become mainstream, Poynt OS is an open operating system that can power any smart payment terminal worldwide, creating a new app economy for merchants and allowing developers to write once and distribute everywhere. Poynt is backed by Elavon, Google Ventures, Matrix Partners, National Australia Bank, NYCA Partners, Oak HC/FT Partners, Stanford-StartX Fund, and Webb Investment Network.

The collaboration will see BitPay integrate its bitcoin and cryptocurrency payments with Poynt’s Smart Terminal point-of-sale devices, allowing customers to pay with bitcoin, Bitcoin Cash, Ethereum and three stablecoins by scanning a QR code at checkout at more than 100,000 Poynt retailers worldwide.

“The addition of open-source, decentralized currencies like Bitcoin is a natural fit in our open-commerce environment,” Osama Bedier, CEO of Poynt.

According to BitPay, its blockchain payment rails integrate seamlessly with Poynt’s smart terminals to make the checkout experience quicker, easier and more secure than paying with legacy methods like credit cards or cash.

“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,” said Stephen Pair, CEO of BitPay.