Ingenico, Binance, and Nilos announced the next phase of their strategic collaboration aimed at transforming the in-store payments ecosystem. „The new solution allows customers to make purchases in-store using cryptocurrencies and enables merchants to be directly compensated in their local currencies.” – according to the press release.
Designed to address merchants’ concerns about direct exposure to cryptocurrencies, this solution enables automatic conversion to euros at the time of payment. „Thanks to this instant conversion, merchants can now accept cryptocurrency payments in-store without managing the risks associated with the digital asset volatility.” the company explained.
This initiative builds upon Ingenico’s cutting-edge technology, Binance’s expertise in digital assets and Nilos’ know-how in payment infrastructures, offering a complete, secure solution for in-store payments. Together, these three major players are committed to providing a seamless and secure payment experience, while reducing the barriers associated with cryptocurrency acceptance for merchants.
„After gathering feedback from merchants in the initial pilot, we’ve worked on a solution that gives merchants the ability to offer cryptocurrency payments without having to deal with any complexity. With the introduction of a new feature brought through Nilos’ expertise, our latest innovation allows merchants to accept cryptocurrency payments while instantly receiving the equivalent in euros. We’re proud to ensure a smooth transition into the future of transactions, providing merchants with the confidence needed for this mode of payment without compromising financial stability.” – said Arnaud Dubreuil – Director of Innovation at Ingenico.
„We are delighted with this partnership with Ingenico and Binance, which represents a game-changer for the adoption of crypto-currency as an in-store payment method. The real innovation behind our solution is in the fact that absolutely nothing changes on the merchant side. Nothing. The merchant uses the same payment system and receives the local currency. This enables them to attract a new range of customers, reduce conversion costs for foreigners, and cut chargebacks without any integration effort. It’s a first in Europe.” – said Eytan Messika, co-founder of Nilos.
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Binance is the world’s leading provider of blockchain and cryptocurrency infrastructure, with a range of financial products that includes the largest digital asset exchange, by volume.
Launched in 2022, Nilos is revolutionizing international payments thanks to a unique infrastructure that combines blockchain technology and a network of global exchange partners. The API-based solution offers a suite of products ranging from multi-currency accounts to optimized foreign exchange solutions on dozens of international rails, including Europe, Africa and Latin America. Today, the company works with over 40 financial companies and handles several million payment volumes per month. It collaborates with key players such as payment terminal leader Ingenico and Binance on a highly innovative in-store crypto payment solution. The company’s ambition is to become the benchmark player in building the financial applications of tomorrow.
With 45 years of experience, Ingenico is the global leader in payments acceptance solutions. As the trusted technology partner for merchants, banks, acquirers, ISVs, payment aggregators and fintech customers our world-class terminals, solutions and services enable the global ecosystem of payments acceptance.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
