Cielo, Brazil’s largest payment processor, has revealed that it will offer support for cryptocurrency, including bitcoin, in its 1.4 million point-of-sale devices nationwide. The news was released at the annual Blockmaster cryptocurrency conference.

Users can do cryptocurrency transactions via a QR code

According to the report, the Cyeloplay mobile app would be used to generate the QR code instead. The app, which will be launched on October 14, will allow remote payments through applications such as WhatsApp and online stores.

Paulo Caffarelli, President of Cielo, said Banco do Brasil and Bradesco are backing the new offer of payments with cryptocurrencies. This could be due to competition for the introduction of payment services with cryptocurrency independent of outlets being intensified in Brazil.

Earlier this month, Banco Inter, one of the first banks in Brazil to digitalize, announced on Instagram that it is launching a new card payment method.

The system will dispense with the need for a point of sale device and will also allow payment with bitcoin. In Brazil, then, payments with cryptocurrency are ready to be as easy as making a cake.

Source: ourbitcoinnews.com