Ingenico Introduces Stablecoin Payment Solution
Ingenico, a leader in payment acceptance and services, has teamed up with WalletConnect Pay to launch an innovative solution that simplifies the payment process for merchants and customers alike. This collaboration aims to enable stablecoin payments directly at checkout, transforming how digital currencies are used in everyday transactions.
Seamless Integration for Merchants
The new digital currency application from Ingenico will support stablecoin transactions across millions of Ingenico Android payment terminals worldwide. By integrating this application, merchants can offer a variety of stablecoins as payment options, including popular choices like USDC, EURC, and USDT. This integration allows for convenient purchasing experiences as consumers can use over 700 compatible wallets supported through WalletConnect.
Enhanced Payment Experiences
With this payment solution, Ingenico aims to enhance the shopping experience for consumers across diverse merchant sectors such as retail, hospitality, transportation, and self-service kiosks. WalletConnect has already shown impressive performance, facilitating over $400 billion in network volume recently, including substantial growth in stablecoin transactions.
Advantages of Stablecoin Transactions
Unlike traditional payment methods that often depend on established card networks, the Ingenico-WalletConnect Pay solution allows for direct stablecoin transactions. This means that customers can pay seamlessly using their mobile wallets, which speeds up the transaction process while also minimizing the reliance on outdated payment infrastructure. By adopting this technology, merchants can benefit from quicker settlements and a more efficient payment process overall.
Quotes from Industry Leaders
Jess Houlgrave, the CEO of WalletConnect, emphasizes the value of stablecoins in modern commerce: "Stablecoins have become an essential payment instrument for moving value quickly and efficiently. By partnering with Ingenico, we are making stablecoin payments practical and accessible in real-world retail settings for consumers globally."
Floris de Kort, Ingenico’s CEO, further comments, "Ingenico's role is to ensure merchants can accept the payment methods their customers prefer, securely and seamlessly. Our partnership with WalletConnect Pay allows us to meet a growing interest in stablecoin payments while making the process as straightforward as possible for merchants."
Future Availability for Merchants
The Ingenico and WalletConnect integration is set to launch soon, available to acquirers and payment service providers. This development will empower merchants to incorporate in-store stablecoin payments effortlessly, leveraging their existing secure infrastructure without the need for additional hardware or complex setups.
About Ingenico
Ingenico stands at the forefront of payment acceptance solutions, serving clients in more than 32 countries with a dedicated workforce of over 3,000 employees. With a history of innovation spanning over four decades, Ingenico delivers tens of millions of payment devices globally, supported by thousands of applications designed to cater to consumer needs.
About WalletConnect Pay
WalletConnect Pay specializes in simplifying the acceptance of stablecoin and cryptocurrency payments for payment providers and merchants. With low-cost, instant settlement of payments, WalletConnect promotes a seamless integration experience while connecting over 500 million users across various blockchain technologies.
Frequently Asked Questions
What is the main benefit of Ingenico's partnership with WalletConnect Pay?
The main benefit is enabling stablecoin payments directly at checkout, enhancing payment options for both merchants and consumers.
How many payment terminals will support this stablecoin solution?
Millions of Ingenico Android payment terminals worldwide will support the Digital Currency Application for stablecoins.
What types of stablecoins will customers be able to use?
Customers will be able to use several stablecoins, including well-known options like USDC, EURC, and USDT.
When will the integration be available for merchants?
The integration is scheduled to be available to acquirers and payment service providers soon, helping merchants adopt stablecoin payment functionality.
How does WalletConnect enhance payment transactions?
WalletConnect facilitates direct transactions from mobile wallets, reducing reliance on traditional card networks and speeding up payment settlements.
