Binance, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, has onboarded the international payment service ivendPay as a global cryptocurrency payment gateway for Binance Pay – a contactless, borderless, and secure user-to-user cryptocurrency payment feature on the Binance App.
The partnership will contribute to making cryptocurrencies an even bigger part of users’ everyday life, further extending digital assets’ real-world utility and making payments easier and more accessible. Binance users can now make purchases at all locations of IvendPay’s international network with their crypto.
ivendPay: Expanding The Reach of Crypto Payments
ivendPay is an international payment service that allows businesses to accept cryptocurrency payments through point-of-sale (POS) terminals, mobile apps, e-commerce platforms, API, and vending machines. Currently, the service operates in seven countries with some 400 active merchants, and the number of new sales points continues to grow weekly.
This year, ivendPay’s expansion efforts are primarily directed at the European market, with Portugal on top of the list. ivendPay is already one of the EU's largest cryptocurrency payment providers in vending and retail systems. The firm is a resident of The FinTech House, the biggest fintech, regtech, insurtech, and cybersecurity hub in Portugal, whose partners are the likes of VISA, KPMG, and BPI.
Pakning Luk, Binance Pay’s regional head of business development, said about the partnership: “We’re more than excited to announce ivendPay as a strategic payment partner as their solutions help both online and offline merchants make users’ payment experience seamless.”
Ahead of The Curve
With its presence in Portugal rapidly expanding, ivendPay has already helped numerous local businesses streamline their crypto payment processes.
The owner of Lisbon's popular ramen eatery Ajitama says that the establishment has been among the early adopters of cryptocurrencies, having recognized the growing community seeking daily use of digital assets.
Ajitama chose to accept cryptocurrencies as regular payment, using ivendPay to enable payments in bitcoin (BTC), ether (ETH), and other popular assets. Customers can simply scan a QR code and transfer funds from their digital wallet to Ajitama's.
“This decision attracted tech-savvy customers and media attention and established us as crypto movement pioneers in Portugal. We're excited to be part of this change, proudly serving delicious ramen to customers paying with crypto or cash,” adds Ajitama’s owner.
Tiago Coelho, the owner of the restaurant La Paparrucha, which has already implemented ivendPay’s solution, shares: “With ivendPay, payments are so simple that some people say that it’s the future – but for us, it is already the present. It is very easy to work with, and the clients have fun and feel safe using."
Michalis Gkourtzidis, director of retailer Electra, says that he is excited to partner with Binance Pay and ivendPay to provide customers with a seamless and secure payment experience. He noted: “This partnership will enable us to stay ahead of the curve in the ever-changing digital landscape, and we believe it will pave the way for further innovation in the crypto and blockchain space."
Yalla!Market, a Dubai grocery delivery service, has also expressed their intention to embrace the crypto payments trend.
Leo Dovbenko, CEO and co-founder of YallaMarket and YallaHub, comments: "YallaMarket and YallaHub are based in the UAE, a global hub of financial technology, so we couldn't stand aside. Moreover, our product development strategy is focused on our customers' evolving demands. Thanks to Binance and ivendPay, we will be able to stay agile, adopt new payment technologies, and focus on providing the best customer service possible."
Cryptocurrency payments offer many opportunities for businesses and users alike. As more merchants and consumers adopt this method of making everyday purchases, we will see continued growth and innovation in this space.
