Brazil largest payment network will start supporting cryptocurrency payments

Brazil’s largest payment operator, Cielo, announced that a network of 1.4 million payment terminals will soon start supporting payments in bitcoins and other cryptocurrencies.

It is reported that users will be able to make cryptocurrency payments using QR codes. In this case, the terminal will generate a code, and the user will be able to pay for the purchase with cryptocurrencies using a special application on the smartphone. True, for this, the buyer will need to open an account on the Uzzo or Criptohub portals.

Interestingly, according to Paulo Caffarelli, President of Cielo, partner banks support this initiative. He also said that in October Cielo could launch cryptocurrency payments that do not need PoS terminals – the QR code will be generated not by the terminal, but by a special application on the seller’s smartphone.

Note that Latin America is a leader in the adoption of cryptocurrencies. Economic instability forces the population to use bitcoin and other digital currencies. And although Turkey took first place in the adoption of cryptocurrencies, Latin American countries occupy the top ranks of the rating.