Point-of-Sale Giant Ingenico Rolls Out Worldwide Bitcoin Payments

[Guido]

Point-of-Sale Giant Ingenico Rolls Out Worldwide Bitcoin Payments

http://www.coindesk.com/point-of-sale-giant-ingenico-rolls-out-worldwide-bitcoin-payments/

BitPay has partnered with payments giant Ingenico to allow brick and mortar stores to accept bitcoin via its point-of-sale (POS) terminals.

The payment solution, unveiled today as part of Blockchain Week, was developed by BitPay and installed on an Ingenico Terminal ICT250.

According to the company, it will be compatible with the majority of Ingenico terminals as they run its operating system, Tellium.

Speaking about the integration, Miguel Angel Hernandez, managing director of Ingenico Iberia, said in a statement:

"Participating in such an important project has allowed Ingenico Group to demonstrate its leadership in the payment space and bring a safe and secure payment method like virtual currency to the end user."

The France-based company, which employs over 5,000 people globally, reported a revenue of €1.37bn in 2013.

Spreading bitcoin globally

Earlier this year, Ingenico partnered with Paymium to enable retailers in Europe to accept bitcoin payments.

A spokesperson for BitPay, however, said that this new partnership would make this solution available on a global scale. Additionally, he said, all BitPay merchants currently accepting traditional fiat payments via compatible Ingenico terminals can now also accept payments in bitcoin.

"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 payments worldwide," said BitPay's executive chairman, Tony Gallipi.

The company made headlines last month after it announced it would be reducing the size of its staff in an attempt to "better align with the pace of growth" in the industry.

[1715257392]

1715257392

[1715257392]

1715257392

[1715257392]

1715257392

[knight22]

How does that work?

[celebreze32]

How does that work?

You go into your local shop and point your smart phone at a POS terminal to instantly pay for whatever they are selling. It sounds like using a Bitcoin ATM through your smart phone. This is huge news and could result in the biggest pump Bitcoin has ever seen after enough shops start using those POS terminals. Today there is only a limited number of shops where I can pay in Bitcoin, and Starbucks forces you to jump through hoops to pay in Bitcoin. Tomorrow I might be able to pay instantly at hundreds of nearby shops, including Starbucks (but without jumping through hoops).

[coinpr0n]

This is pretty cool. I really hope to find some shops around me that have one of these and that they upgrade their software to a compatible version.

[randy8777]

fantastic to see another large company is willing to work with bitpay to make bitcoin payments even more available. it just shows that bitcoin is a more than interesting thing for large companies.

[intristin]

wow this is really big, the grocery store right down the block uses their point of sale equipment. I can buy milk and eggs with bitcoin now. Just wow! 

[tiggytomb]

This seems like huge news.  Will need to find out which retailers use these terminals and if any are local, this could be the news that brings Bitcoin back into the spotlight, although if this is not promoted in stores and it is just an add on that you need to ask about it will have a lesser impact.

[BitmoreCoin]

However, with all the back log of transactions, it will take some time to get first confirmation. Can the shop trust the shopper?

[gogxmagog]

Interesting but I hate to say it... I don't think most people are ready for this. All we are going to hear about are hacks glitches and losses. People are even more careless with their mobile's security than their home computers' which is negligible at best. Plus, as mentioned above, confirmation time is a very real issue.

One day I'm sure, I just don't see it just quite yet

[dothebeats]

This is great, more shops to spend bitcoin to! It's just kinda sad that these services aren't available in my country just yet. Most bitcoin-related services here are exchange platforms and online shops, but not physical stores which you can walk-in and buy something you want.

Interesting but I hate to say it... I don't think most people are ready for this. All we are going to hear about are hacks glitches and losses. People are even more careless with their mobile's security than their home computers' which is negligible at best. Plus, as mentioned above, confirmation time is a very real issue.

One day I'm sure, I just don't see it just quite yet

As long as bitcoiners could explain how to send and receive money in the simplest form of words, there would be less and less complaints about security and personal losses of balance.

[Mowcore]

However, with all the back log of transactions, it will take some time to get first confirmation. Can the shop trust the shopper?

Have you ever bought anything using Bitpay? (although saying that, I have only just heard about the recent malleability attack but still that shouldn't be a problem? no?)

[brg444]

Interesting but I hate to say it... I don't think most people are ready for this. All we are going to hear about are hacks glitches and losses. People are even more careless with their mobile's security than their home computers' which is negligible at best. Plus, as mentioned above, confirmation time is a very real issue.

One day I'm sure, I just don't see it just quite yet

99% of the merchants using Ingenico POS won't bother enabling the feature & signing up with BitPay.

This is all bells & whistles and is not going to lead to more Bitcoin adoption.

[Aswan]

I don't like that you apparently have to send the Tx yourself. The Terminal should show you the payment address via QR to you can scan it and create the Tx and it should have a camera that you can show your signed Tx as another QR code and it sends the Tx to the network for you.
That way people can use actually secure bitcoin devices that do not have to connect to any network for payment.

[DeathAngel]

Genuinely never heard of Ingenico, what countries do they trade in, just the US?