BitPay integration brings crypto payments to Apple Pay’s 380 million users

Published at: Feb. 12, 2021

The string of major payments companies allowing crypto features continues as BitPay announced today that BitPay card users can now connect to Apple Wallet and pay for goods and services using Apple Pay. 

"We have thousands of BitPay Wallet app customers using the BitPay Card who are always looking for new places and ways to spend their crypto,” said BitPay CEO Stephen Pair in a press release. “Adding Apple Pay and soon Google and Samsung Pay makes it easy and convenient to use the BitPay Card in more places from day-to-day items to luxury purchases.”

Bitpay currently allows for payments in BTC, ETH, Bitcoin Cash, and a variety of stablecoins.

This Apple Pay integration seems to be part of a wider strategy from BitPay to capitalize on the momentum of the ongoing crypto bullrun. BitPay also filed with the OCC to become a national trust bank late last year. The Apple Pay press release noted that “support for Google Pay and Samsung Pay is planned for later this quarter.”

The move is a significant one for crypto hodlers looking to spend their digital currency in the real world, given Apple Pay’s size and market saturation. A recent report says that Apple Pay is well on its way to accounting for 10% of all card transactions by 2025 (compared to its current 5% share). BitPay's integration may also allow for additional utility for users of the Apple Card — an initiative launched with Goldman Sachs to allow Apple Pay users to earn cashback on purchases. Apple Pay currently has over 380 million users worldwide.

This may also be just the first of many Apple-related cryptocurrency developments. Last week, Royal Bank of Canada Dominion Securities analyst Paul Steves predicted that Apple might be the next company to allocate a portion of their cash reserves to Bitcoin. Apple currently has nearly $200 billion in cash on hand, and pressure may be mounting for the company to follow Tesla’s lead in purchasing cryptocurrency.

Tags
Blockchain
Payments
Bitpay
Related Posts
BitPay launches mass crypto payments for businesses
Crypto payment services provider BitPay has launched BitPay Send, a new blockchain-powered mass-payout platform for businesses. BitPay Send allows organizations who do not want to handle or own crypto themselves to process crypto payments en masse. It can be used to complete payroll payments, pay contractors or affiliates, and process customer cashback and rewards programs. Available in 225 countries, all recipients need to pass the Know Your Customer procedure and have a cryptocurrency wallet. BitPay claims the platform cuts processing time from days to minutes. The service has already been adopted by advertising platform AdGate Media in order to pay …
Technology / Nov. 13, 2020
Blockchain Wallet Adds Support for Crypto Payments Processor BitPay
Crypto wallet service Blockchain Wallet has integrated cryptocurrency payment processor BitPay. Payments conducted through Blockchain Wallet Blockchain announced the news on Aug. 23, stating that it now allows its users to copy or scan invoices, allowing them to make a Bitcoin (BTC) payment entirely through its wallet app. The new functionality reportedly allows users to purchase products and services via BitPay’s online network while retaining ownership of their private keys through Blockchain Wallet. BitPay is one of the largest crypto payment processors and is offered in a multitude of online stores. It has purportedly processed nearly $3 billion in payments …
Blockchain / Aug. 23, 2019
Former Worldpay US Executive Joins Crypto Payments Firm BitPay as Its New CFO
Major cryptocurrency payment services provider BitPay has onboarded former Worldpay U.S. executive Glen Braganza as its Chief Financial Officer (CFO), according to a press release published on May 7. Having more than 15 years experience in private equity and public markets, Braganza joined BitPay to “help support the business through its next phase as the company grows into a global financial organization.” While the release does not reveal what exactly Braganza will be engaged in, Stephen Pair, CEO and co-founder of BitPay, said that “Glen’s experience is a key advantage to BitPay as the team moves the company into the …
Blockchain / May 7, 2019
Litecoin transactions near an all-time high after gaining ground in consumer finance
The number of Litecoin (LTC) transactions has rebounded to over 140,000 in recent days after falling close to the 100,000 mark in early October. Three days prior, the Litecoin Foundation tweeted about the launch of its LTC Visa Debit card, powered by fintech firm Unbanked. According to the card's homepage, potential customers would first register for a Litecoin Card account, deposit LTC into a specific wallet address, pass a know-your-customer check, and receive a virtual Litecoin Card. The service claims that the sign-up process takes less than five minutes. The Litecoin card is meant to enable users to spend their …
Adoption / Oct. 27, 2021
FX Settlement Provider CLS Begins Final Testing for Blockchain Payment Banking Service
Forex exchange (FX) settlement giant CLS is in the final stages of testing its blockchain payment service for banks, Financial News reported July 27. The service is reportedly set to be launched later this summer, with at least seven banks expected to sign on to the system in the early months. CLS, the New York-based global multi-currency cash settlement system, has been working with tech company IBM to introduce the blockchain-powered payment netting service. The system is set to be incorporated in banking IT systems to boost the level of standardization in the global FX markets, as well as reduce …
Blockchain / July 29, 2018