ivendPay launches crypto payment technology via NFC

Tuesday 28 November 2023 11:16 CET | News

Portugal-based multi-currency payment system ivendPay has rolled out its cryptocurrency payment technology via NFC, expanding payment options for merchants and customers.


ivendPay describes the newly launched payment process as practically indistinguishable from using a card. A user can simply tap his phone utilising NFC technology and make a direct payment from his crypto wallet. The technology seamlessly integrates into various payment ecosystems, including POS terminals, merchant mobile apps, and vending networks, ensuring convenience and security of cryptocurrency transactions in a retail environment.

ivendPay has rolled out its cryptocurrency payment technology via NFC, expanding payment options for merchants and customers.

Binance partnership

A testament to the success of this innovation was the partnership with Binance, in which ivendPay became the global payment gateway for the Binance Pay service. This collaboration underscores the trust and recognition that ivendPay has earned, offering contactless, borderless, and secure cryptocurrency payments.

ivendPay to expand in Europe and the MENA region

With its patented payment solution, ivendPay not only ensures transaction reliability but is also actively expanding its global presence. Already boasting around 400 active merchants in seven countries, the company is poised for further penetration in the European and MENA regions. The rapid growth and sustainable development of ivendPay provide ample opportunities for investors to be involved in innovative financial technologies.

Reasons to use cryptocurrency payments

In the past, cryptocurrency payments were mainly done through QR codes, requiring extra time and steps for the user. However, thanks to ivendPay, the payment process has become as straightforward and quick as a traditional card payment. The integration of NFC technology with cryptocurrency payments will speed up the adoption of cryptocurrency in the daily routine, making it a natural part of modern financial operations.

Key benefits of crypto payments:

  • Universality: Payment is possible on any device. There are already over a million merchants offering cryptocurrency payment options, and this number is continually growing;

  • Independence from regulators: Users' cryptocurrency fully belongs to users, free from intervention by banks or governments. Over 80% of surveyed users cite independence as the primary advantage of cryptocurrency;

  • Globality: Cryptocurrency can be sent anywhere, without being tied to a specific country. According to research made by ivendPay, more than 30 countries already accept cryptocurrency payments, making it a genuinely global means of payment;

  • Security: Cryptocurrency transactions are challenging to decrypt. According to reports cited by ivendPay, blockchain technologies provide a level of security surpassing many current banking standards;

  • No commission: Unlike traditional payment systems, cryptocurrency payments are often made without fees. Analytical data shows that users can save up to 3% on fees when using cryptocurrency over standard payment systems.

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Keywords: NFC, cryptocurrency, merchants, expansion, payments
Categories: DeFi & Crypto & Web3
Companies: ivendPay
Countries: World
This article is part of category

DeFi & Crypto & Web3


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