Binance Partners with ivendPay to Expand Cryptocurrency Payments
Binance, the leading blockchain ecosystem and cryptocurrency infrastructure provider, has partnered with ivendPay to expand the reach of cryptocurrency payments globally. IvendPay is an international payment service that enables businesses to accept cryptocurrency payments through various channels such as POS terminals, mobile apps, e-commerce platforms, API, and vending machines.
Currently operating in seven countries with 400 active merchants, ivendPay’s expansion efforts are primarily directed towards the European market, with Portugal as a top priority. IvendPay is already one of the largest cryptocurrency payment providers in vending and retail systems in the EU. The company is a resident of The FinTech House, the biggest fintech, regtech, insurtech, and cybersecurity hub in Portugal, whose partners include VISA, KPMG, and BPI.
Through the partnership, Binance users can now make purchases at all ivendPay’s international network locations using their cryptocurrencies. The move will contribute to making cryptocurrencies a more significant part of everyday life, extending the real-world utility of digital assets, and making payments easier and more accessible.
According to Pakning Luk, Binance Pay’s regional head of business development, ivendPay’s solutions help both online and offline merchants make users’ payment experience seamless. IvendPay has already helped many local businesses streamline their crypto payment processes, including Lisbon’s popular ramen eatery Ajitama, which has been among the early adopters of cryptocurrencies.
By choosing to accept cryptocurrencies as regular payment, Ajitama uses ivendPay to enable payments in bitcoin (BTC), ether (ETH), and other popular assets. Customers can scan a QR code and transfer funds from their digital wallet to Ajitama’s.
Tiago Coelho, the owner of the restaurant La Paparrucha, which has already implemented ivendPay’s solution, shares that payments with ivendPay are so simple that some people say that it’s the future – but for them, it is already the present. Michalis Gkourtzidis, director of retailer Electra, says that he is excited to partner with Binance Pay and ivendPay to provide customers with a seamless and secure payment experience. He believes that this partnership will enable them to stay ahead of the curve in the ever-changing digital landscape and pave the way for further innovation in the crypto and blockchain space.
Yalla!Market, a Dubai grocery delivery service, has also expressed their intention to embrace the trend of cryptocurrency payments. Leo Dovbenko, CEO, and co-founder of YallaMarket and YallaHub, says that thanks to Binance and ivendPay, they will be able to stay agile, adopt new payment technologies, and focus on providing the best customer service possible.
The adoption of cryptocurrency payments provides many opportunities for businesses and users. As more merchants and consumers adopt this method of making everyday purchases, the continued growth and innovation in this space are expected. However, it is important to note that digital assets are subject to high market risk and price volatility. The value of your investment can go down or up, and you may not get back the amount invested. Investors are solely responsible for their investment decisions, and Binance is not liable for any losses incurred.