Tuesday, September 28, 2021 8:22:27 AM
Paying for Taco Bell With Dogecoin May Be Soon Be a Reality
Olga Kharif
Tue, September 28, 2021
(Bloomberg) -- How about paying for your Taco Bell order with Dogecoin? Or some of Whole Food’s avocado ice cream with Bitcoin.
That’s the goal of a new partnership between crypto payment processor BitPay Inc. and Verifone Inc., one of the world’s largest providers of those little machines you use to pay via a credit card or Venmo at a checkout line. Later this year, the newest Verifone terminals will start accepting payments for U.S. merchants from a range of cryptocurrency wallets and tokens, the companies said in a statement Tuesday. Terms of the agreement weren’t disclosed.
Widespread use of tokens for purchases has been a goal that has long eluded the crypto industry, with most users focusing on speculation and merchants scared off by the price volatility of the digital assets. BitPay said it will provide greater protection from price swings since the funds will be settled promptly into the merchant’s bank account in traditional currency once a transaction is completed.
BitPay already processes more than 60,000 transactions a month, more than half of them in Bitcoin, according to the company. By comparison, Visa Inc. handles an average of 150 million transactions a day.
“We just want to give consumers options,” Mike Pulli, chief executive officer of Verifone, said in an interview. “If they decide to buy a pizza with Visa or AmEx or crypto, we don’t care. We just want to give them the flexibility to pay the way they want to.”
Today, spending crypto can be a headache: In the worst-case scenario, a customer may need to move coins to an exchange, sell them, then move money into a bank account to spend. Some people use their crypto money to buy gift cards. Others are signing up for debit cards offered by the likes of Coinbase Global Inc., which lets them use crypto anywhere Visa is accepted.
Verifone is the latest firm seeking to make crypto payments easier. Last week, social network Twitter allowed users to tip in Bitcoin. PayPal Holdings Inc. has also boosted its efforts in digital payments. Starbucks formed a partnership in 2018 to created a venture designed to more tightly integrate digital currencies into global commerce.
Merchants are lining up for the product, Pulli said.
“There’s a very nice backlog of them,” he said. “There’s lots and lots and lots of interest. I think our phones will be ringing off the hook” once the capability is more widely known of.
While the companies didn’t say which merchants will be included, some brands that Verifone works with already include American Eagle Outfitters, Macy’s, Williams Sonoma, Taco Bell and Whole Foods.
Verifone and Atlanta-based BitPay didn’t disclose how long their exclusive partnership will last. Verifone has an option to invest in BitPay as well, the company said. BitPay has raised more than $70 million in funding from investors including Founders Fund and Virgin Group.
Verifone, which was taken private by Francisco Partners in 2018, is not planning to go public again any time soon, Pulli said.
“We’ve always felt it was a matter of time before people had an expectation they could pay with crypto as they pay with Mastercard and Visa,” Stephen Pair, CEO of BitPay, said in an interview. “This development will accelerate that. Consumers are going to just expect that to be an option.”
https://finance.yahoo.com/news/paying-taco-bell-dogecoin-may-113720323.html
Successful Trading is the art of minimizing long term risk and maximizing capital allocation.
Recent DOGEUSD News
- Avalanche (AVAX) Could Rise 50% If It Breaks $28 Resistance – Crypto Analyst • NEWSBTC • 09/22/2024 02:00:17 PM
- Top Dogecoin Whales Aggressively Dumping NEIRO For RCO Finance (RCOF): Why? • ZyCrypto • 09/21/2024 09:41:46 PM
- Analyst Who Predicted The Bitcoin Rally Reveals Time To Sell • NEWSBTC • 09/21/2024 08:00:25 PM
- Bitcoin Indicator Signals ‘Shift To Bullish Territory’ – Can BTC Break Past $65,000? • NEWSBTC • 09/21/2024 04:00:16 PM
- Dogecoin Well Positioned To Vastly Outperform Bitcoin In Current Cycle, Market Analyst Explains Why • ZyCrypto • 09/21/2024 03:00:18 PM
- Crypto Whales Buy $228 Million In XRP Following $5 Price Prediction • NEWSBTC • 09/21/2024 02:00:06 PM
- Dogecoin (DOGE) ‘Gearing Up for a Bullish Breakout,’ Says Crypto Analyst – Here’s What To Watch For • The Daily Hodl • 09/21/2024 12:00:06 AM
- Dogecoin Open interest Remains Muted Below $500 Million, What’s Going On? • NEWSBTC • 09/20/2024 07:00:45 PM
- Price analysis 9/20: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB • Cointelegraph • 09/20/2024 05:42:14 PM
- Ripple Whales Accumulate Over 380 Million XRP in Just 10 Days: Is A Breakout Near? • NEWSBTC • 09/20/2024 04:00:08 PM
- Analyst Predicts A Solana Price Crash To $80 If This Happens • NEWSBTC • 09/20/2024 02:30:44 PM
- Crypto Shorts Suffer $147 Million Squeeze As Bitcoin Returns Above $63,000 • NEWSBTC • 09/20/2024 01:30:41 AM
- Bitcoin Price Rally Faces Key Resistance: Will Whale Shorts Trigger A Market Pullback? • NEWSBTC • 09/20/2024 12:30:58 AM
- Crypto Analyst Predicts Dogecoin Will Surge 1,000% Past ATH – Price Targets Revealed • NEWSBTC • 09/19/2024 04:00:53 PM
- Dogecoin Forming First Golden Cross In 4 Years, Is A 3700% Rally To $3.8 Possible? • NEWSBTC • 09/19/2024 02:30:19 PM
- Will Bitcoin Bullish Swing Continue? Top Analyst Says Yes • NEWSBTC • 09/19/2024 08:30:33 AM
- Dogecoin (DOGE) Eyes Acceleration: Will It Climb Higher? • NEWSBTC • 09/19/2024 05:18:19 AM
- NEIRO Meme Coin Minting Millionaires, Whales Accumulating: Is This The Start Of The Bull Run? • NEWSBTC • 09/19/2024 01:30:54 AM
- Solana (SOL) Could Crash 40% If It Stays Below $140 – Top Analyst Shares Insights • NEWSBTC • 09/18/2024 10:30:22 PM
- Dogecoin Price Eyes Ferocious Rally As Key Metric Signals Renewed Network Activity • ZyCrypto • 09/18/2024 07:07:12 PM
- Dogecoin Miners In Accumulation Mode, But Is This Really Bullish? • NEWSBTC • 09/18/2024 06:00:29 PM
- Price analysis 9/18: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB • Cointelegraph • 09/18/2024 04:36:26 PM
- Here’s What Dogecoin Whales Are Doing Following The Recovery Above $0.1 • NEWSBTC • 09/18/2024 10:30:16 AM
- Dogecoin Sees Surge In Transactions: Is a Massive Breakout on the Horizon? • NEWSBTC • 09/18/2024 08:00:32 AM
- Cardano (ADA) Enters Stage 3 That Will Trigger 4,500% Rally To $15 • NEWSBTC • 09/18/2024 12:30:12 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM