BitPay can leverage mobile wallet popularity to grow its payment volume, especially since 90% of US stores now accept Apple Pay. Consumers are leaning more into mobile wallets, posing an opportunity for BitPay to grow. More consumers are opting for mobile wallets to complete contactless payments during the pandemic, with Apple Pay expected to reach 40.3 million users, or 43.3% of all proximity mobile payment users in the US, in 2021, according to Insider Intelligence forecasts.Meanwhile, PayPal made cryptos a major focal point during its 2021 investor day, with the firm recently saying it plans to introduce a business unit dedicated to digital currencies.Ĭombined, these efforts are indicative of the growing presence of cryptocurrencies in the payments realm, and might be why BitPay decided to expand with Apple Pay and other wallets, since partnering with them can help the firm further penetrate the space and become a formidable crypto payment provider.īitPay's integration with major mobile wallets could help expand digital currencies as a form of payment, while helping providers like Apple Pay boost app usage. Moreover, Mastercard recently announced that it'll support select cryptocurrencies on its network in 2021, allowing its merchants to accept the digital assets as a form of payment from customers. As an added benefit, BitPay customers who are waiting for their plastic card to be delivered can add their virtual card to Apple Pay via the BitPay Wallet to begin spending immediately.īitPay's integration with Apple Pay follows a host of major payment providers ramping up crypto offerings as digital currencies continue to grow in popularity. Visa and Mastercard have both been expanding their crypto card programs over the last year: As of December 2020, Visa had 32 global crypto card programs and Mastercard had 7, according to data provided to Insider Intelligence from The Block. Thanks to the Apple Pay integration, customers now have a new way to spend their digital assets. With a BitPay Mastercard, customers can instantly convert cryptocurrency into fiat currency, which can then be loaded onto the card and spent anywhere Mastercard debit is accepted. It often indicates a user profile.īitPay is giving prepaid Mastercard cardholders the ability to add their card into Apple Pay. Account icon An icon in the shape of a person's head and shoulders.
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