Apple Pay and BitPay collaborates to provide cryptocurrency payment support

by Ashish

BitPay has recently announced that its MasterCard prepaid services can now be used with the Apple Wallet and Apple Pay. While major payment companies that support encryption are still continuing to launch encrypted payment services.

BitPay and Apple Pay cooperate to provide cryptocurrency payment support for 380 million users and it currently supports BTC, ETH, BCH, and multiple stable currencies for payment. Taking into account the scale of Apple Pay and the saturation of the market, this move allows cryptocurrency holders to have more opportunities to use digital currencies in the real world.

Similarly, the integration with BitPay may also bring additional utility to users who use Apple Card. For those who are unaware, Apple Card is a service launched in cooperation with Goldman Sachs that allows Apple Pay users to get cash back when purchasing which currently has 380 million users worldwide. In other words, the two parties will cooperate to provide encrypted payment services to 380 million users worldwide.

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This seems to be part of BitPay’s broader strategy to leverage the momentum of the cryptocurrency bull market. Among them, BitPay also submitted an application to become a national trust bank to the OCC (Office of the Comptroller of the Currency) at the end of last year.

BitPay CEO StephenPair said at a press conference:

“We have thousands of BitPay wallet app users who use BitPay cards. They are always looking for new places and ways to spend their cryptocurrency. Apple Pay, Google Pay, and Samsung Pay will make the use of BitPay cards simple and convenient in more places ranging from everyday items to luxury goods.”

Last week, RBC Dominion Securities analyst Paul Steves predicted that Apple may be the next company to allocate part of its cash reserves to Bitcoin. And this cooperation may be just the first attempt of Apple’s cryptocurrency business.

(Via)

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