500,000 stores use Shipay’s solution, with which CoinPayments has agreed. Photo: Pixabay.
A CoinPayments, the first company to process payments in cryptocurrencies, and Shipay, a fintech that integrates digital payments with retail receiving systems, entered into a partnership to enable the use of cryptocurrencies. Fintech has 500,000 physical points of sale and 10,000 e-commerce, including clients like Burger King.
“This is the first step for retailers to also take advantage of the security and agility of cryptocurrencies. In addition to further popularizing this asset not only as a source of investment, but also as something useful to be used in purchases”, explains Rubens Neistein, Business Manager at CoinPayments.
To use the system, the retailer needs to use Shipay’s solution and open a digital wallet at CoinPayments, where they will receive the amounts. Payment can be in more than 2,000 cryptos with which the company works. When the customer makes a payment with digital currency via mobile, the amount goes to the retailer’s account at CoinPayments.
According to CoinPayments, its expectation is to grow 30% until December. Last year it was US$ 75 million in the country. Brazil leads the Latin American market, with a 405% jump in total payment processing volume in just the first quarter of the year, according to the company. Shipy was launched in 2019.