American electronic payment company Verifone is partnering with bitcoin payment service provider BitPay to allow customers to make payments using Bitcoin and cryptocurrencies.

CEO of Verifone Mike Pulli confirmed to Cointelegraph that cryptocurrencies transactions will be activated for merchants leveraging Verifone’s in-store and eCommerce Cloud Services platforms in the U.S by December 2021.

Pulli added that the crypto payment option will open up more options and opportunities for consumers.

“We feel that having crypto available on our terminals will open up more options and opportunities for consumers, which is what Verifone aims to do. This opens up a currency that has never before been seen on a terminal, and we want to be at the forefront of this trend,” he said.

Speaking on this development, the CEO of BitPay, Stephen Pair, said that the growing popularity of blockchain wallets and mass adoption of crypto by large firms and consumers are part of the reason for the partnership.

In the last 24 hours, bitcoin is down by 3.42%, with a current price of $42,046.22 as at the time of writing this. Within 24 hours, bitcoin dropped to $41,547.83 low and $44,041.84high. The trading volume of bitcoin in the last 24 hours is $857.54M. The current market capitalization of bitcoin is $791.64B. Currently, $18.83M bitcoins is in circulation.

Stats and Image from Coin Desk

“Verifone customers are requesting to have crypto payments. This has become the case as there are millions of crypto users today that have blockchain wallets on their phones that they want to leverage,” he said.

Verifone’s head of alternative payment methods at Jeremy Belostock said that the partnership responds to the shift in the payment space from credit cards to trusted mobile app.