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consumers who own cryptocurrencies would consider Verifone, said in a press statement.
using them for purchases if their crypto assets were stored
in a mobile (digital) wallet. Nearly one in five (19 percent) Crypto-wallet giant BitPay offers a BitPay Mastercard and
would pay with crypto from a mobile wallet if it were app where crypto-holders can store cryptocurrencies and
easy to do. Visa offers an even rosier outlook: 81 percent of access the assets for spending.
crypto owners it surveyed last year expressed interest in
making payments with crypto-linked cards. BitPay is also partnering with Verifone to support
cryptocurrency acceptance at merchant terminals and
According to the Pew Research Center about one in for ecommerce/in-app payments. The solution, expected
six (16 percent) of American adults own or have traded to become available by this spring, requires a Verifone
cryptocurrencies. Engage terminal or an Android device connected to
Verifone cloud services.
"With the popularity and ownership of cryptocurrency
growing, it is critical that retailers find ways to accept this At checkout, the consumer selects their preferred crypto
new form of payment, and the easiest way may be through wallet on the POS device, then scans an on-screen QR
mobile wallets," said Sean Feeney, CEO at Cantaloupe. code using that wallet to complete the transaction.
"Our research shows that the needle is moving quickly, The cryptocurrency is directed immediately to BitPay,
consumers are more comfortable paying with mobile apps whereupon the merchant gets an approval message. BitPay
than ever before, and it's time for the retail industry to immediately converts the crypto to dollars and funds get
be ready to meet expectations of consumers who prefer settled to the merchant account just like a card transaction.
crypto for payment, and begin to accept it."
It's fair to say that we can expect more developments like
To date, most crypto-payments activity has been at online this in 2022.
merchants, like Microsoft and Overstock. But major brick- Patti Murphy is senior editor at The Green Sheet and self-described
and-mortar merchants, like Home Depot, are accepting payments maven of the fourth estate. Follow her on Twitter @GS_
crypto payments, too. "[T]he appetite for crypto payments
has exploded," Jeremy Belostock, head of strategy at PayMaven.