Sunday, July 12, 2020

Europeans Launch First POS Terminal with Bitcoin Payment Option

Ingenico, a French-based payment services company and Salamantex, an Austrian Fintech company have collaborated to launch a point-of-sale (POS) terminal. This POS terminal is the first to feature a payment option for Bitcoin, Ethereum, and Dash by default. The POS terminal will be presented at EuroShop 2020, the world’s largest trade fair, to enable merchants to receive cryptocurrencies. This report is according to a medium publication on February 18, 2020.

Ingenico Partners with Salamantex to Launch First POS Terminal

Per the publication, Ingenico has partnered with Salamantex to launch the first POS terminal integrated with an option to receive cryptocurrencies by default. The supported crypto assets include Bitcoin, Ethereum, and Dash. Also, merchants at the fair will use the POS terminal. They will use them to receive cryptocurrencies as payments for their goods and services. However, merchants receive their monies in Euros.

Furthermore, the team revealed that Salamantex’s software powers the POS device. In addition, Salamantex’s Crypto Payment Service will be exhibited at the trade fair event. And the exhibition will be part of a joint presentation by Ingenico and Salamantex tagged, “Acceptance of digital currencies at the POS.”  Also, it will mark the first time Ingenico has made payment with cryptocurrencies available to the broad market

Advancements in Digital Payments and Customers’ Choice of Crypto

What’s more, the duo outlined that there have been advancements in digital payments. NFC payments and barcode scanning using smartphones are also gaining more adoption. Likewise, customers prefer to choose their own payment method and often times resort to cryptocurrencies. As such, merchants who intend to make more sales need to accept all payment methods.

Stephan Schmidt, Head of Sales at Ingenico GmbH while making comments said Ingenico’s payment solutions minimize the complexity of payments for both merchants and service providers. These payment solutions enhance the customer’s shopping experience irrespective of the sales channel and payment method.

Similarly, Markus Pejacsevich, COO Salamantex made comments. According to Pejacsevich, the integration of Salamantex’s Crypto Payment Service Software into Ingenico’s terminals is a major step toward’s achieving the Fintech company’s vision. This vision involves promoting the wide acceptance of digital currencies as a serious and secure payment method.

“Retailers and service providers accepting cryptocurrencies as an alternative payment method can tap into an attractive and financially strong new customer group and further position themselves as first movers within their industry,” Pejacsevich said.

Ingenico, on the other hand, has been collaborating with companies around the world to enable cryptocurrency payments with POS devices. In November 2019, the company announced that it has partnered with Singapore-based Fintech Pundi X to integrate the latter’s XPOS software with Ingenico’s POS APOS A8 devices. As such, merchants around the world can use APOS A8, a portable POS, to receive crypto payments.

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