Payments acceptance provider Ingenico has launched a partnership with Crypto.com.
The new collaboration will bring cryptocurrency payments and merchant services to users of the Ingenico platform, the two companies announced Tuesday (Nov. 5), letting merchants around the world accept crypto payments.
“Through this collaboration, Ingenico merchants can now accept crypto payments and receive funds settlement without currency risk in their local currency,” such as euros, the British pound, or American and Australian dollars, the companies said in a news release.
“At the heart of this offering is Ingenico’s new merchant wallet, connected to AXIUM Android terminals to simplify merchant interactions with the crypto world and other key services. This new functionality also enables merchants to enjoy the flexibility and ease of integrating crypto alongside their existing payment systems,” the company added.
The partnership also lets consumers earn rewards for transactions via Crypto.com Pay, while Ingenico lets merchants manage payments and services through mobile and tablet devices, an effort designed to “normalize crypto payments for real-world experiences.”
Ingenico plans to launch a live pilot in the first quarter of next year, in regions including the U.S., Canada, the U.K., Asia, Europe and Australia.
The partnership is happening at a time when “the broader crypto landscape, and its own institutional players, are seeking greater utility — and recognition — across the financial services ecosystem,” as PYMNTS wrote last month.
Research from PYMNTS Intelligence has found that 77% of merchants who accept crypto payments said they did so because of lower transaction processing fees compared to other methods of payment.
In addition, 32% of merchants that were extending their usage of crypto reported doing so because they believed it could help them land new customers, according to the PYMNTS Intelligence and BitPay collaboration, “Paying With Cryptocurrency: What Consumers and Merchants Expect From Digital Currencies.”
As noted here in October, the crypto sector continues to face pressure from regulators like the Securities and Exchange Commission (SEC).
Crypto.com sued the commission last month, calling it a “misguided” agency. The suit came after the SEC issued the company a Wells notice, typically a harbinger of enforcement action.
“While this is an unprecedented move for our company to file suit against a federal agency, actions by that agency towards our industry have left us no other choice,” the company said in a news release.
“Specifically, our lawsuit contends that the SEC has unilaterally expanded its jurisdiction beyond statutory limits and separately that the SEC has established an unlawful rule that trades in nearly all crypto assets are securities transactions no matter how they are sold, whereas identical transactions in bitcoin (BTC) and ether (ETH) are somehow not,” it added.
We get a lot of press releases here at PYMNTS. We consider all of them, and some are more newsworthy than others. But this one really got our attention. This past week, Diebold Nixdorf made headlines with its announcement of successfully installing two new automated teller machines (ATMs) at the U.S. National Science Foundation’s McMurdo Station in Antarctica. This achievement marks a significant milestone in banking accessibility, to be sure. We would like to meet the crew that installed them. We’d also like to know why they needed two. Was there a line at the first one? More to come on that.
According to Diebold, McMurdo Station is Antarctica’s largest research and logistics hub, supporting a fluctuating population that ranges from fewer than 200 residents during the winter months to up to 1,100 individuals during the summer (October through February). The presence of these ATMs is crucial, it says, as the next closest banking facilities are thousands of miles away, making them the only ATMs on the entire continent. How’s that for a value proposition?
The DN Series ATMs are designed for always-on availability. And why do they need two? One ATM is actively in use, while the second serves as a backup for spare parts, ensuring uninterrupted service in this isolated area. These machines are connected to the DN AllConnect Data Engine, which leverages Internet of Things (IoT) connectivity, machine learning, and artificial intelligence (AI) to monitor their performance. A dedicated team continuously aggregates and analyzes technical data to identify potential issues, enabling remote diagnostics and repairs. The ATM can be maintained by trained staff at NSF McMurdo Station, or the Diebold Nixdorf service team can remotely guide them through the repair process.
Anyway, it got us thinking. Are there other surprising ATMs in extreme locations? Well, of course, there are. Here’s a sampling of what we found.
At an altitude of about 5,364 meters (17,600 feet), the Mount Everest Base Camp in Nepal is another unexpected place to find an ATM. Although it’s not a permanent fixture and is often set up seasonally, it caters to climbers and trekkers who need cash for local transactions. This temporary ATM service underscores the adaptability of banking services in extreme environments.
In some parts of the Amazon rainforest, particularly in Brazil and Peru, ATMs can be found in small villages and towns. These machines are vital for local communities, providing access to cash in areas where digital payment options might be limited. The presence of ATMs here demonstrates how banking services can reach even the most remote communities.
Located in the Tibet Autonomous Region, Nagqu is home to one of the highest ATMs in the world. This region is very remote, with limited infrastructure, making the presence of an ATM a notable example of banking accessibility in extreme environments.
In the Thousand Islands (Kepulauan Seribu) off the coast of Jakarta, Indonesia, there’s a floating ATM. This unique ATM serves the local community and tourists on the islands, demonstrating how banking services can adapt to isolated marine environments.
Longyearbyen, the administrative center of the Svalbard archipelago in Norway, boasts the most northerly ATM. This location is one of the most remote inhabited places on Earth, with limited access to mainland Norway, making the ATM a vital service for residents and visitors.
On a more serious note, the installation of ATMs in places like Antarctica and other remote locations highlights the evolving nature of banking technology. With advancements in IoT, AI and remote diagnostics, it’s becoming increasingly feasible to provide banking services in areas previously considered inaccessible. As we look to the future, it will be interesting to see where else ATMs might appear. Whether it’s on a remote island, at the top of a mountain or even in space, the ability to access cash is becoming more universal than ever. And who knows? Maybe one day, we’ll see an ATM on Mars, serving the first interplanetary travelers.
For now, the presence of ATMs in unexpected places reminds us that banking is not just about transactions; it’s about connecting people and communities across the globe, no matter how remote they might be.
