Crypto payment service provider Bitpay today announced that its prepaid Mastercard is now compatible with Google Pay wallets. The new functionality will allow US cardholders to use their Android mobile devices to make purchases in store and online using the crypto held in their BitPay wallet.
BitPay, which bills itself the world’s largest provider of Bitcoin and cryptocurrency payment services, says support for Samsung Pay is expected soon after having previously integrated Apple Pay.
With BitPay Prepaid Mastercard, crypto users can instantly convert their virtual coins into fiat currency, which is then loaded onto the card and can be spent anywhere Mastercard debit is accepted around the world. Customers can also use the card online for purchases and to withdraw cash from ATMs.
To add the card to their Google Pay wallet, cardholders need to have the most recent version of the BitPay app, which should be rolling out on Google Play today.
“Consumers are seeking more new places and ways to spend their crypto and we want to make their experience fast, easy and secure. Adding Google Pay makes it easy and convenient for customers to live life on crypto and benefit from the increased value crypto provides from day-to-day items to luxury purchases,” said BitPay CEO Stephen Pair.
BitPay facilitates the acceptance of cryptocurrencies by monitoring, validating, and confirming client transactions on each blockchain. On the merchant side, Bitpay allows clients to settle in Bitcoin, Ethereum and Bitcoin Cash, and has recently added options to settle in multiple stablecoins.
BitPay allows users to purchase cryptocurrency directly in the App with bank cards thanks to a partnership with payment provider Simplex. In total, it currently supports 12 cryptocurrencies including BTC, BCH, DOGE, ETH, LTC, WBTC, XRP and stablecoins BUSD, DAI, GUSD, PAX and USDC.
BitPay’s integration comes shortly after Google revamped the app to expand Google Pay’s offerings beyond digital peer-to-peer transactions, joining a list of big tech companies that continue to edge further into personal financial services.
The brand new version now offers built-in budgeting tools and financial insights with visual spending tools and easy ways to manage spending. It also gives the search behemoth more data about its users as people flock toward digital banking during the pandemic. It also allows Google to compete with services like Venmo (owned by Paypal), Apple Pay, and Square’s Cash App.