Blockchain Payment Processor BitPay And Poynt Enable Crypto Payments at POS Terminals


The blockchain payments provider BitPay has closed a partnership with Poynt, the world’s first open commerce platform, to make crypto payments possible at point-of-safe (POS) terminals. The announcement was made on Tuesday, in a press release that reads:

“With just the scan of a QR code at checkout, consumers can now pay merchants using Poynt’s devices with the currency of their choice, including Bitcoin, Bitcoin Cash, Ethereum, and three dollar-pegged stablecoins. BitPay’s 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.”

Poynt Already Serves Over 100,000 Retailers

Poynt already has a POS devices network working for more than 100,000 retailers from all over the world. BitPay’s co-founder and CEO Stephen Pair had this to say about his company’s new partnership:

“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.”

$9 Billion in 12-Month Gross Payment Volume for Poynt

Offering both software and hardware for its “smart” POS terminals that can also run third-party apps, Poynt has recently said it has passed the $9 billion threshold in gross payment volume in a 12-month time period. The company’s CEO and founder Osama Bedier had this to say about the addition of crypto into the payment solutions it offers:

“Poynt was built on the idea of open commerce. The addition of open-source, decentralized currencies like bitcoin is a natural fit in our open-commerce environment.”

BitPay Processed More than $1 Billion a Year in Crypto Transactions

Last month in January, BitPay added support for XRP in its wallet app, by collaborating with Xpring, which is Ripple’s developer arm. From 2017 until 2019, it has processed more than $1 billion in crypto transactions.

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