A global payment leader is partnering with a digital payments network to facilitate transactions made at retailers with cryptocurrencies that include the popular meme coin Dogecoin.
What Happened: InComm Payments is partnering with Flexa, the leading pure-digital payments network to offer a seamless way for its retail partners to accept digital currencies. Flexa backs the transactions with a zero-fraud guarantee.
InComm Payments is a leader in alternative payments with more than 500,000 points of retail distribution. Merchants partnered with InComm will be able to accept digital currencies using its existing point-of-sale hardware and software. InComm has a presence in more than 30 countries worldwide.
Settlement for transactions will happen in U.S. dollars of the cryptocurrency of the retailer’s choice at no extra cost.
“As digital currencies grow in popularity and rapidly gain consumer adoption, it’s crucial for retailers to keep up with a broad range of payment options,” InComm Payments President Stefan Happ said.
See Also: How To Buy Dogecoin
Why It’s Important: The deal between Incomm and Flexa could increase the number of retailers allowing customers the option of using cryptocurrency to make purchases.
“500k additional points of retail distribution all over the globe will be able to accept $DOGE soon,” Dogecoin founder Billy Markus tweeted.
InComm and Flexa will offer consumers around the world a “meaningful and expanded utility for their digital currency holdings” according to the press release.
“By integrating with Flexa’s comprehensive solution for digital currency acceptance, we’re helping to unlock powerful consumer spending opportunities for brands and further enrich the consumer experience,” Happ said.
Flexa has over 41,000 locations in the U.S. and Canada where customers can make purchases. This includes retailers like GameStop Corp. (NYSE:GME), Nordstrom, Inc. (NYSE:JWN), Petco Health and Wellness Company Inc (NASDAQ:WOOF) and Lowe’s Companies Inc (NYSE:LOW).
Flexa’s SPEDN app gives users the ability to scan a QR code and complete a transaction using its Flexa account balance to pay with numerous options at checkout.
InComm and Flexa said they “look forward to sharing more details” of retail partners who adopt the technology in the coming months.
InComm’s website lists more than 1,000 brand partners and more than 850 million cards managed annually. The company has over $50 billion in annual transaction value.