Ingenico Partners with BitPay to Enable Bitcoin for POS Terminals Worldwide

Point-of-sale (POS) solutions giant Ingenico is expanding its scope of Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term support thanks to a partnership with BitPay.

Paris-based Ingenico's terminals are among the most commonly used among merchants worldwide. Every merchant using Ingenico's Telium system will now have the ability to turn on bitcoin payments after installing the BitPay app and opening a BitPay account. Upon checkout, a QR code is generated and scanned for the deposit of bitcoins, which are paid via the shopper's mobile device.

Ingenico began supporting bitcoin earlier this year through a partnership with Paymium, a bitcoin payment processor, also based in France. That integration reportedly enabled bitcoin acceptance on POS terminals in Europe. The latest brings bitcoin to brick-and-mortar shops working with the Telium platform worldwide, in addition to the BitPay-supported merchants already using an Ingenico terminal.

Traditionally, it has been easier for e-commerce stores to accept bitcoin, and by extension, partnerships making it possible for thousands of online shops to accept bitcoin in one fell swoop have been more common. The expansion to brick-and-mortar stores can, in theory, have a meaningful impact upon overall bitcoin usage, although such integrations have seemingly failed to achieve this vision in the past.

Previously, Ingenico was reportedly involved in a project led by the Canadian government to develop a government-backed p2p digital cash. The government divested from the project last year, its eventual fate unclear, although the general concept of government-backed p2p cash has since been revived elsewhere in 2015.

For BitPay, the announcement is a slight boost during a time of unmet expectations for bitcoin usage. Recently, the household name shed a significant portion of its workforce.