The largest U.S.-based cryptocurrency exchange Coinbase, announced that it has integrated Apple Pay and Google Pay. Shoppers can now pay with their Coinbase Card on both online payment platforms, while also earning crypto cashbacks of up to four percent.
It’s so easy!
Starting today, you can use your Coinbase Card with Apple Pay® and Google Pay to maximize rewards and use crypto in your everyday life.
Details here ↓https://t.co/iE0PYLUKlP
— Coinbase (@coinbase) June 1, 2021
In a blog post on Tuesday, Coinbase also stated that selected customers on the waitlist will start enjoying the crypto rewards beginning this June. Additionally, the Nasdaq listed exchange said that it will convert crypto to fiat, and transfer the funds to the user’s Coinbase account to enable them make ATM withdrawals and purchases:
“Now, you can earn up to 4% back in crypto rewards on this shopping when you use your Coinbase Card with Apple Pay or Google Pay. Splurging for guacamole with your Coinbase Card is a no-brainer when you can earn 1% back in Bitcoin or 4% back in Stellar Lumens.”
Coinbase’s Visa debit card was first launched back in April 2019 in the UK to enable smooth payment with Bitcoin and other crypto for goods and services. Since then, Coinbase has launched its cards in different parts of Europe.
In October 2020, the Coinbase Visa debit card was made available to its U.S. customers and the card is now available in almost 30 countries.
Now, launching in reverse, the reward program will initially only be available to its U.S. customers and then gradually expanded to other parts of the world.
Mobile payments on the rise
The announcement comes amid times that mobile phone payments in the U.S. are on the rise. While countries like China are ahead with over 80 percent of payments being made with the help of their mobile phones, the United States is catching up as it witnessed a 20% increase in 2020.
Coinbase’s reward program is not something new in the crypto space. Gemini announced their Gemini rewards card back in April. In collaboration with payments giant Mastercard users earn 3% percent in Bitcoin rewards. Just recently, a Mastercard survey revealed that 40% of respondents are open to using crypto as a means of payment by the next year.
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