Binance as the world's leading blockchain ecosystem and cryptocurrency infrastructure provider has added international payment service ivendPay as a global cryptocurrency payment gateway for Binance Pay – a contactless, borderless and secure user-to-user cryptocurrency payments feature on the Binance App.
This partnership will help cryptocurrencies become a bigger part of users' daily lives, further expanding the real-world usefulness of digital assets and making payments easier and more accessible. Binance users can now make purchases at all IvendPay international network locations using their crypto.
ivendPay: Expanding the Reach of Crypto Payments
ivendPay is an international payment service that enables businesses to accept cryptocurrency payments via point-of-sale (POS) terminals, mobile apps, e-commerce platforms, APIs and vending machines. Currently, the service operates in seven countries with around 400 active merchants, and the number of new points of sale continues to grow every week.
This year, ivendPay's expansion efforts are primarily directed towards the European market, and Portugal is at the top of the list. ivendPay is already one of the largest providers of cryptocurrency payments in the EU in merchant and retail systems. The firm is a resident of The FinTech House, Portugal's largest fintech, regtech, insurtech and cybersecurity hub, whose partners include VISA, KPMG and BPI.
Pakning Luk, regional head of business development for Binance Pay, said of the partnership: “We are pleased to announce ivendPay as a strategic payments partner as their solutions help online and offline merchants create a seamless user payments experience.”
Staying Ahead
With its rapidly growing presence in Portugal, ivendPay has helped many local businesses streamline their crypto payment processes.
The owner of a popular ramen shop in Lisbon, Ajitama, said that his shop has become one of the early adopters of cryptocurrencies, after realizing that more and more communities are seeking to use digital assets every day.
Ajitama chooses to accept cryptocurrencies as regular payments, using ivendPay to enable payments in bitcoin (BTC), ether (ETH), and other popular assets. Customers simply scan the QR code and transfer funds from their digital wallet to Ajitama.
“This decision attracted tech-savvy customers as well as media attention and established us as a pioneer of the crypto movement in Portugal. We are happy to be part of this change proudly serving delicious ramen to customers who pay using crypto or cash,” added the Ajitama owner.
Tiago Coelho, owner of La Paparrucha restaurant, which has implemented the ivendPay solution, said: “With ivendPay, payments are so simple that some people say it is the future – but for us, it is already the present. It's very easy to use, and clients enjoy and feel safe using it."
Michalis Gkourtzidis, retail director of Electra, said he is excited to partner with Binance Pay and ivendPay to provide customers with a seamless and secure payment experience. He mentioned: “This partnership will allow us to stay ahead in the ever-changing digital landscape, and we believe it will pave the way for further innovation in the crypto and blockchain space.”
Yalla!Market, a Dubai grocery delivery service, has also expressed its intention to embrace the crypto payment trend.
Leo Dovbenko, CEO and co-founder of YallaMarket and YallaHub, commented: "YallaMarket and YallaHub are based in the UAE which is a global financial technology hub. So, we can't just sit idly by. In addition, our product development strategy is focused on continued customer demand evolve. Thanks to Binance and ivendPay, we will be able to remain agile, adopt new payment technologies, and focus on providing the best customer service."
Cryptocurrency payments offer many opportunities for businesses and users. As merchants and consumers increasingly adopt this method of making everyday purchases, we will see continued growth and innovation in this space.
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