BitPay and Verifone Partner to Exclusively Enable Cryptocurrency AcceptanceSource:
https://bwnews.pr/3EZHOPDCrypto payments to move mainstream as major retailers and SMBs alike can now accept crypto and get settlement in traditional currency
Imho this is big.
Merchants will be able to accept crypto payments directly from Verifone without the need for an account with BitPay. The consumer will be able to pay seamlessly using approved crypto wallets
I'm not surprised that the merchants will receive fiat.
And although I am not fond of BitPay, this is big.
Most businesses want / need fiat to run.
The owner of the local pizza place I spend too much money at might want some
BTC / crypto but for the most part he needs to pay rent / utilities / suppliers / etc in fiat.
So you wind up in kind of a loop. We want people to use crypto and accept it. But until more places accept it, the businesses that do need fiat to pay the people that don't.
So unless they have enough cash flow to keep some, it's all going to be converted.
Sad, but for the moment true.
As for the BitPay bad thing, at least they are doing something.....
-Dave
