21 Mar 24

Ingenico, Binance and Nilos join forces to facilitate cryptocurrency acceptance

Listen to this article

Suresnes, March 21, 2024: Ingenico, Binance, and Nilos are excited to announce the next phase of their strategic collaboration aimed at transforming the in-store payments ecosystem. The new solution allows customers to make purchases in-store using cryptocurrencies and enables merchants to be directly compensated in their local currencies.

Designed to address merchants' concerns about direct exposure to cryptocurrencies, this innovative solution enables automatic conversion to euros at the time of payment. Thanks to this instant conversion, merchants can now accept cryptocurrency payments in-store without managing the risks associated with the digital asset volatility.

This initiative builds upon Ingenico's cutting-edge technology, Binance's expertise in digital assets and Nilos' know-how in payment infrastructures, offering a complete, secure solution for in-store payments. Together, these three major players are committed to providing a seamless and secure payment experience, while reducing the barriers associated with cryptocurrency acceptance for merchants.

The first transactions will take place in "Track 119", an avant-garde venue combining gastronomy, music and art in the heart of Paris' 11th arrondissement, and at "The Corner Shop", a specialized water sports boutique in Île-de-France.

T-119 stands out for its innovative approach, combining food stalls offering culinary diversity, a coffee shop and a bar for fans of crafted drinks. A DJ booth will animate the evenings, along with a merch space featuring ephemeral exhibitions, goodies, and much more.

Track 119 is a space open to all, where the boundaries between gastronomic, musical and artistic disciplines are blurred. This collaboration with Ingenico and Nilos further breaks down barriers by streamlining monetary exchanges. At Track 119 from now on: we taste, we drink, we mix & we pay in crypto!

Simon Cohen, co-founder of “Track 119”

The Corner Shop's enthusiastic clientele comes not only from France, but also from all over the world: Switzerland, Brazil, the US... They come seeking the best advice on equipment and their sports practice.

Implementing a Crypto payment solution is natural to provide our customers with solutions closest to their needs and facilitate their purchases. We chose to work with Ingenico because on such sensitive matters, we needed to be with the global leader to ensure trust between our customers, us, and Ingenico.

Olivier Guerrini, manager of "The Corner Shop"

After gathering feedback from merchants in the initial pilot, we've worked on a solution that gives merchants the ability to offer cryptocurrency payments without having to deal with any complexity. With the introduction of a new feature brought through Nilos' expertise, our latest innovation allows merchants to accept cryptocurrency payments while instantly receiving the equivalent in euros. We're proud to ensure a smooth transition into the future of transactions, providing merchants with the confidence needed for this mode of payment without compromising financial stability.

Arnaud Dubreuil, Director of Innovation at Ingenico

We are delighted with this partnership with Ingenico and Binance, which represents a game-changer for the adoption of crypto-currency as an in-store payment method. The real innovation behind our solution is in the fact that absolutely nothing changes on the merchant side. Nothing. The merchant uses the same payment system and receives the local currency. This enables them to attract a new range of customers, reduce conversion costs for foreigners, and cut chargebacks without any integration effort. It's a first in Europe.

Eytan Messika, co-founder of Nilos

About Binance

Binance is the world's leading provider of blockchain and cryptocurrency infrastructure, with a range of financial products that includes the largest digital asset exchange, by volume. Trusted by millions around the world, the Binance platform, which is dedicated to increasing the freedom of money for its users, offers an unrivalled portfolio of cryptocurrency products and offerings.

About Nilos

Launched in 2022 by Raphaël Fettaya and Eytan Messika, Nilos is revolutionizing international payments thanks to a unique infrastructure that combines blockchain technology and a network of global exchange partners. The API-based solution offers a suite of products ranging from multi-currency accounts to optimized foreign exchange solutions on dozens of international rails, including Europe, Africa and Latin America. Today, the company works with over 40 financial companies and handles several million payment volumes per month. It collaborates with key players such as payment terminal leader Ingenico and Binance on a highly innovative in-store crypto payment solution. The company's ambition is to become the benchmark player in building the financial applications of tomorrow.

About Ingenico

Ingenico is the global leader in payment acceptance and services. We support our customers, and their customers to do more with payments. Active in 37 countries, with over 3,500 employees we have been at the forefront of the commerce landscape for over four decades. With more than 40 million payment devices deployed worldwide, powered by over 2,500 apps, the company is servicing the needs of millions of consumers every day. Through our advanced integrated solutions and network of partnerships, we simplify the world of payments and bring value added services to move commerce forward.

Press contacts

Elena Chadaigne, Global Head of External Communications

T +33 6 80 58 27 62

E [email protected]