Tag: debit

Google Pay Opens Door to Mainstream Payments for Coinbase's Crypto-Debit Card

Coinbase and technology giant Google have partnered to enable Android and iOS users to link their crypto-based Coinbase card into their Google Pay wallets, facilitating cryptocurrency payments on a mainstream platform used by millions.

Android and iOS Users Can Now Make Crypto Payments

Coinbase card (a visa-based debit card), which can be funded with crypto, is now working with Google Pay. This makes Coinbase, the largest crypto exchange company in the US, the first firm to enable android and iOS users to make mobile payments with cryptocurrencies. Android clients can now add the Coinbase visa debit card directly to their Google Pay wallet and pay with cryptocurrency for various services on the app.   

Google Pay gives Coinbase card users a secure and quick approach to pay using their smartwatches, tablets, smartphones, and other Google Pay-enabled devices. Android clients can pay with Google Pay for anything using their crypto in a cheap, fast, and the most secure conceivable way. Clients will be able to tap into various cryptos like Ether (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Bitcoin (BTC), and digital assets like XRP (XRP), stellar lumens (XLM), and basic attention token (BAT) balances to make daily purchases.

Coinbase card payments on Google Pay is now available for clients in 14 countries such as France, the US, the UK, Belgium, Finland, Ireland, Italy, Poland, Croatia, Czech Republic, Sweden, Norway, Denmark, and Slovakia. The crypto exchange firm intends to work on expanding the integration to other EU regions later this year.

Clients who intend to enjoy the valued benefits of paying with cryptos on Google Pay should go ahead and download the Coinbase card app on iOS and android devices and sign in using Coinbase account credentials. Once a client has requested a card, he or she can add it to Google Pay app and spend crypto with it to pay or buy anything even before the arrival of the physical card.

As an effort to power online, in-store, and peer-to-peer payment worldwide, Google Pay is anticipated to expand its users to 100 million globally in 2020, up from 39 million in 2018. The popular digital wallet is the second most widely utilized contactless mobile payment provider along with Korean tech Samsung, which is on the right track to having the same numbers of users worldwide. The two firms trail only Apple Pay that has more than 220 million users globally.

The Bid to Make Coinbase Payment Available in Several Regions is real

Based in San Francisco, Coinbase has been active in its to provide mobile payment facilitated through users’ crypto balances. In February 2020, the company partnered with the credit card giant Visa to make it possible to bring the Visa debit card accessible to UK and Europeans customers.  The latest Coinbase’s move to support the Goggle Pay integration is set to enable the company to expand its availability to more markets.

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Bybit Now Supports Crypto Purchases with Credit or Debit Cards

Bybit users can directly buy crypto with their credit or debit cards using fiat currencies, the cryptocurrency exchange company announced.

The launch of Bybit’s credit and debit card payments system “will make buying crypto as simple as making any purchase, such as books and clothes, online,” the company said.

“Bybit users can now easily buy crypto assets such as Bitcoin, collect NFTs on our marketplace, or deploy their capital in other ways to reach their personal financial goals,” said Ben Zhou co-founder and CEO of Bybit.

Currently, users can pay via the Visa or Mastercard system and according to Bybit, Visa and Mastercard due to their ubiquity and security.

In an interview with Blockchain.News, Bybit said, “as security is our number one priority, we wanted to use Visa and Mastercard due to their ubiquity and excellent security, and that is why we chose a service provider who could deliver that. On a similar note, we are constantly tweaking our platform mechanisms to optimize for security and customer experience to provide the next level of trading for our users.

Bybit supports various fiat currencies, including the euro, U.S. dollar, and pound sterling. The service is available to any eligible user with a Bybit account.

Bybit has also waived fees on credit and debit card purchases for customers from the European Economic Area and the UK until May 17, to celebrate this new integration.

The company said that following May 17, “customers who purchase crypto on Bybit through the integration will enjoy some of the lowest fees for this kind of service in the industry, starting at 1.1% for purchases made from the European Union.”

“This integration brings next-level convenience, so users can access world-class liquidity and reliability offered by Bybit,” said Zhou.

In terms of its unique offerings that differentiate them from other exchanges, Bybit told Blockchain.News that it is “known for our reliable platform that traders can count on in moments that count. Coupled with our diverse offerings from NFT to options trading, Bybit is the one-stop crypto destination with the newly added seamless credit and debit card onramp service for traders and crypto fans of all skill and knowledge levels.”

Bybit plans to launch more products this year and the company told Blockchain.news that people can expect “amazing events and product launches this year, and one upcoming highlight is our annual World Series of Trading — which is like the World Cup for crypto traders. Also, keep an eye on our Launchpad 2.0 for upcoming projects to be announced in the next few weeks.”

Established in 2018, Bybit has been offering a professional platform to help traders find an ultra-fast matching engine, excellent customer service and multilingual community support.

In a recent announcement, Bybit also said that it has launched leveraged token products.

Blockchain.News reported that the token products were released on the trading platform’s spot exchange starting with two leveraged bitcoin tokens, BTC3L and BTC3S.

Bybit recommended these leveraged tokens as short-term investment vehicles, which will allow traders to reap the benefits of leverage with no margin, collateral or liquidation risks, the report added.

In one of its major deals, Bybit was successful in securing a multi-year partnership deal with Red Bull Racing.

Blockchain.News reported that following a 3-year deal, Singapore-based crypto assets trading platform Bybit has become the Principal Team Partner for Oracle Red Bull Racing, one of the most successful Formula 1 team.

As announced by Red Bull, the deal is worth $50 million annually.

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