1.4 Million Brazilian POS Devices to Support Crypto Payments
The largest payment processing provider in Brazil, Cielo, has unveiled support for Bitcoin (BTC) and cryptocurrency purchases on its point-of-sale (PoS) devices.
According to this update, users can make crypto payments through Cielo PoS devices via QR codes. The PoS machines generate QR codes for payment, and the customer can then use a smartphone in order to scan the code and make payment. The customer also reportedly needs to hold either an account with Uzzo or Criptohub — Cielo’s network partners — in order to complete payment.
Paulo Caffarelli, Cielo’s president said that its partner banks, including Bradesco, are backing the new crypto payments offering. Additionally, Cielo may begin supporting crypto payments that do not require a POS machine in October, according to the report. Instead of a POS device, this mode of payment would use a Cielo mobile app to generate the QR code instead.
Cielo operates 1.4 million PoS devices, distributed across 5,500 municipalities in the country.