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September 28, 2021 10:02 pm

Paying For Taco Bell With Dogecoin May Be Soon Be a Reality

An anonymous reader quotes a report from 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 and Verifone, 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 handles an average of 150 million transactions a day. 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.

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