Gate Pay Partners with Ivendpay, Expanding Crypto Payment Options for Merchants and Customers

Gate.io
2 min readApr 25, 2023

Gate Pay, the crypto payment service product by the global leading CEX Gate.io, has entered into a partnership with Ivendpay, enabling merchants and customers to use Gate Pay as a payment method. Customers can now pay for goods and services by scanning the QR code generated by Ivendpay’s POS terminal using Gate Pay.

Ivendpay is a cryptocurrency processing software that allows merchants to accept digital currencies through POS machines, vending machines, and online via website or app widgets. Operating in seven countries with 300 active merchants, Ivendpay continues to expand its reach, adding new locations weekly.

About Gate Pay

Gate Pay is a secure, free, and fast cryptocurrency payment function developed by Gate.io to meet the Web 3.0 needs of merchants and individual users for paying and receiving cryptocurrency anytime, anywhere. Users can seamlessly make crypto payments for any online goods or services by scanning QR codes or making on-chain transfers. Currently, Gate Pay supports over 30 mainstream cryptocurrencies for direct payments and also enables users to instantly convert among over 1500 cryptocurrencies.

IvendPay’s Global Presence

Ivendpay has teamed up with Zima Bank, a neo-bank providing FINTRAC-compliant payment processing and registered in Canada. This partnership ensures the global availability of POS systems and promotes the mass adoption of crypto payments.

Market Making Pro research predicts that the number of transactions processed by POS terminals will grow by 28%, surpassing $17.3 trillion by 2026. Currently, only 5% of the global population uses cryptocurrencies, representing a market volume of $850 billion.

Ivendpay aims to capture 5% of the total crypto payment market, which equates to approximately $42.5 billion in turnover or $425 million in annual income, assuming a 1% commission fee limit.

As one of the largest cryptocurrency payment providers in vending and retail systems in Portugal and the EU, Ivendpay has been a resident of Europe’s largest FinTech House since 2023. FinTech House partners include VISA, KPMG, Bank of the Philippine Islands, and others. Ivendpay’s office at FinTech House in Lisbon serves as its European headquarters for providing crypto-processing services in the EU, with active development in Portugal, Germany, and other countries.

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