BitPay and Ingenico join forces to enable Bitcoin payments to 27 million merchants

Bitcoin payment processor BitPay has announced that it has completed development of an Ingenico Terminal Payments plugin that will allow more merchants to accept Bitcoin payments through its Terminal Payments app.

Ingenico Group, a global secure electronic payment company, established a strategic partnership with Fosun International in May last year to expand its business development strategy in China.

27 million merchants accept Bitcoin payments

Before Bitcoin enters the mainstream market, more emphasis should be placed on the physical store payment industry. Although the new trends of e-commerce and mobile commerce are becoming more and more obvious, many consumers still choose to pay for goods and services in physical stores. However, Bitcoin payments are still only available in selected locations.

So BitPay has developed a new plug-in to make Bitcoin payments more accessible in physical stores. Now, 27 million retailers around the world with an Ingenico payment terminal based on the Telium Tetra system can accept Bitcoin payments through a separate application, but some older payment terminal systems may need to be upgraded to support Bitcoin payment functions.

The only requirement for merchants to accept Bitcoin payments is to set up a BitPay account. Setting up such an account is a matter of minutes, and once created, the information can be immediately paired to the Ingenico payment terminal. Simply scan the generated QR code to link the device and account, then click the "Confirm" button.

Bitcoin Payment Development in 2015

If no one is interested in using Bitcoin, then the Bitcoin ecosystem will not grow. Looking at the development of the Bitcoin ecosystem in 2015, we have a certain degree of confidence because Bitcoin has achieved certain market results on its way forward.

According to BitPay, Bitcoin payments grew by 50% at the end of 2015, and by 110% for the whole of 2015. More and more people are starting to use Bitcoin to pay for goods or services, rather than just seeing Bitcoin as an investment tool.

The success of Bitcoin has gone beyond the scope of transactions and has begun to be used more and more for shopping payments. BitPay has released a B2B Bitcoin bill payment application via email, because most bill settlements are now slowly being electronic, and credit card payments are no longer the most popular payment option in people's minds due to high fraud rates. Bitcoin provides people with a solution in this regard, and companies such as NexusGuard are integrating payment tools developed by BitPay.

To some, this growth may still seem insignificant compared to traditional payment solutions. Consumer spending in the Bitcoin world has been growing, and Bitcoin is only seven years old. Traditional payment solutions, such as credit cards, have been around for decades and have only recently begun to enter the mainstream market.

Original article: https://news.bitcoin.com/bitpay-enables-27-million-ingenico-retailers-accept-bitcoin/
By JP Buntinx
Translator: printemps
Editor: printemps
Source (translation): Babbitt Information (http://www.8btc.com/bitpay-ingenico)