Cryptocurrencies may be the biggest trend of recent times, but they have yet to receive universal acceptance and approval. While the price of Bitcoin continues to soar, nearing $60,000, there are still many governments which continue to ban crypto trading and ownership, due to concerns around security. Nevertheless, the world’s largest payment platforms are getting on board, which is bound to increase the number of people looking to use crypto globally. PayPal and Apple Pay, two of the largest payment providers in the world, have begun supporting crypto payments, which means that hundreds of millions of new users have access to crypto payments now, while also giving merchants and retailers the option to accept these tokens as payment. Now, the other two giants in this space, Google Pay and Samsung Pay, are also all set to allow crypto transactions on their apps and platforms, which will bring these options to even more users.
This will be done through BitPay, which is the leading platform for crypto payments globally, and has recently been allowed on Apple Pay. It is a similar partnership with the likes of Samsung Pay and Google Pay, with the plan being to bring BitPay onto these platforms as early as March 2021 if everything goes according to plan. Users will be able to link their BitPay cards to these two providers, much in the same manner as they have been able to do with Apple Pay, and thus use BitPay’s features to make payments using various cryptocurrencies. The likes of Bitcoin, Bitcoin Cash, Ether, BUSD, USDC, PAX and GUSD are all supported on BitPay, thus giving users a plethora of options to choose from.
This is just another step in the wave of crypto adoptions that has been taking place, especially over the last year or so. The rise in price of Bitcoin and other crypto tokens has drawn many people to this space, but has also brought in several companies and institutions as well. Online casino operators, for example, have been offering crypto casino games for a while now, where players can place a dogecoin bet, for example, or in any other cryptocurrency. Such games have allowed these sites to increase their user base by a large amount, while also providing better services to their customers, and therefore increasing their revenue as well. Online gambling is just one example of how crypto can be used to improve the prospects of an industry, and with more and more payment providers getting onto this bandwagon, we can expect its popularity and adoption to continue to grow as well.
There are still no exact dates and timelines with regard to BitPay’s availability on Google Pay and Samsung Pay, but given that it is already available on Apple Pay, there should not be too much of a wait for non-Apple users as well. BitPay will also look to provide support for Samsung Pay and Google Pay users as soon as possible.
Again, this is not the first time that a crypto payment platform has announced an integration with a mobile payments network. In fact, we are almost a year now from Coinbase’s announcement, back in March 2020, that its Coinbase Card would be linked with Google Pay, allowing Google Pay users in some countries to be able to make payments through cryptocurrencies. Thus, even in the payments space, we are seeing a lot of accelerated growth in terms of crypto integration, and therefore this upcoming integration is only the next step in ensuring that cryptocurrency transactions become as common and widespread as possible.