Altcoin News: Bitcoin Support Will Be Added to 1.4 Million Payment Terminals in Brazil

September 2, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

The large Brazilian payment company Cielo adds the possibility of using Bitcoin and other cryptocurrencies in its network of payment terminals, which consists of 1.4 million devices, writes Cointelegraph.

To use the option, Cielo customers will need to create an account on the website of one of the company’s partners, and then scan the QR code in the payment terminal using a special application.

According to Cielo President Paulo Caffarelli, the company’s cryptocurrency offer is supported by local banks, Banco do Brasil and Bradesco Bradesco. In addition, in October Cielo may realize the possibility of making cryptocurrency payments without the use of payment terminals. Instead, smartphones with their own Cielo application will be used, which are also able to provide the necessary QR code.

Earlier, the Brazilian commercial bank Banco Inter announced preparations for the launch of a crypto-payment system without using terminals. It is assumed that even those users who are not customers of the bank will be able to use the system.

President of the Central Bank of Brazil Ilan Goldfain last declared that Bitcoin has signs that make it a financial pyramid.

Author: Marko Vidrih