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The first project allowing a POS terminal to process digital currency payments has been announced by BitPay and Ingenico during the Blockchain Week in Barcelona.

The new technology makes it possible to pay in cryptocurrency through Ingenico terminals for the goods sold offline. To these ends a merchant simply has to enter a fiat price and wait for a QR code to be generated. The customer then scans the code with his mobile app and pays in bitcoin.

The innovation was presented on 6 October, with the bitcoin payment integration system installed on an Ingenico terminal ICT250.

“We are excited to partner with Ingenico Group, one of the leading payment processors in both physical and online commerce. This integration will help us expand bitcoin payments to thousands of retail payment terminals worldwide,” said BitPay Executive Chairman Tony Gallippi.

Earlier this autumn BitPay's Chief Commercial Officer suggested that four leading bitcoin companies (BitPay, Coinbase, Circle and Xapo) should create a bitcoin association.

The Blockchain Week, happening now in Barcelona, has gathered experts from all over the world to explore the potential of blockchain for IoT, smart cities, eCommerce, retail, trading, security, etc.

 

Maria Rudina