On 11th August world’s biggest Bitcoin and cryptocurrency payment service provider, BitPay has announced that their Prepaid Master cardholders of U.S can now convert cryptocurrencies into Dollars for purchasing online & in-stores using Google Pay Wallet.

With the support of Google Pay, secure payment of contactless purchases in-app, online, and in-person with their Android phones, tablets or watches, will be piece of a cake for BitPay cardholders. Support of Apple Pay and Samsung Pay is also expected in near future.

BitPay CEO Stephen Pair quoted regarding the announcement, “Consumers are seeking more new places and ways to spend their crypto and we want to make their experience fast, easy and secure.” He also added, “Adding Google Pay makes it easy and convenient for customers to live life on crypto provides from day-to-day items to luxury purchases.”

BitPay designed its Wallet app for allowing consumers to manage, protect, track and spend 7 cryptocurrencies, such as BTC, BCH, DOGE, ETH, LTC, WBTC, XRP and 5 stablecoins including BUSD, DAI, GUSD, PAX, USDC. The main advantage of this is that within seconds the customers can turn their loaded crypto onto the Mastercard, into Dollars. It not only can be used to purchase online (where Mastercard debit is accepted), but also to withdraw money from any ATMs.

For the new BitPay Prepaid Mastercard customers, they can directly add the virtual card to Google Wallet and start spending at that moment, while waiting for their plastic cards to arrive.

In August 2021, the PYMNTS and BitPay collaboration named, “The Cryptocurrency Payments Playbook: Cryptocurrencies Gain Momentum As A Payment Option” noted that 60% of cryptocurrency users are “extremely” interested in using cryptocurrency “to make online purchases that are more private or secure.”

Joyashree Dey

CBW - External Analyst

INDIA