Tuesday, April 13, 2021

Apple Pay to start accepting bitcoin through BitPay cards.

The Takeaway:

Payment provider BitPay has revealed that its US cardholders will be able to use their cards to complete transactions through Apple Pay.

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Bitcoin and cryptocurrency payment provider BitPay has revealed that its US cardholders will be able to use their cards to complete transactions through Apple Pay. The card makes it possible to link the account to transactions paid with Bitcoin. From there, users can use the mobile wallet normally and pay through cryptocurrency, said the press release. This makes it possible to shop using Bitcoin in-store, in-apps, and for online transactions. According to the company, later on in this quarter, it will also start supporting Google Pay and Samsung Pay.

 

Bitcoin’s acceptance continues to grow.

BitPay customers who don’t have a credit card would still be able to add it to the Apple Wallet through the virtual card by way of the BitPay wallet app, explained the company’s press release. BitPay’s announcement marks a shift in the acceptance and opportunity for Bitcoin and other cryptocurrencies. It means that there will be a far more simple and practical way for people to use Bitcoin as a payment method. It turns the cryptocurrency into a standard payment method anywhere that accepts Mastercard transactions. The BitPay Wallet app already allows its users to convert cryptocurrencies such as Bitcoin into standard currencies, loaded onto the MasterCard.

 

PayPal and other payment companies enter the crypto space.

In October 2020, PayPal announced that its own account holders could purchase, hold, and sell cryptocurrency. Moreover, they can make payments using cryptocurrencies with the company’s merchant network. A week ago, Mastercard also announced that it would start accepting certain cryptos in its network early this year. With the addition of Apple Pay and other mobile wallets to the mix, it looks as though digital coins will be making important moves into the mainstream this year. As reported earlier, electric car maker Tesla purchased $1.5 billion worth of bitcoin and announced to accept the cryptocurrency as a payment mode.

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Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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