It is becoming increasingly easier to use cryptocurrency as a form of payment
The payment platform Samsung Pay is taking a step forward into supporting cryptocurrency technologies. Now, Swipe Visa holders can use their smartphone or smartwatch to make payments with their crypto. This new partnership between the cryptocurrency Visa card-issuing platform Swipe and Samsung Pay was announced by the former on May 1. After this new addition, Swipe claims to be the first digital wallet platform to receive country-wide support from both Google Pay and Samsung Pay.
This integration means that Swipe Visa customers will be able to use their Samsung Pay accounts to make payments to their card balances by using devices compatible with the service. This new situation allows Swipe cardholders in the UK and European Union to make payments directly from their crypto balances to more than 50 million locations across the world. According to COO John Khenneth, this agreement was possible thanks to a relationship formed between the two parties who shared Contis Financial as its mutual issuing bank. “We were approved by Visa for a digital card program, in addition to our physical card program, a few months ago and have been integrating with the bank and Samsung Pay since,” he said.
For Khenneth, this partnership is “hoping to tap into those Samsung lovers whom, with the help of Samsung Blockchain initiatives, have made crypto more aware to their audience.” This integration comes at a great time in which digital payments are gaining popularity. Khenneth also stated that since the outbreak of the coronavirus pandemic there has been a “large uptick in [the] number of digital payments on Google Pay.” Khenneth added that “As people move away from cash and physical cards, Google Pay and now Samsung Pay can really help and create new channels of seamless UX.”