Crypto Wallet Spend Integrates Apple Pay, Says Google Pay Coming Soon
Spend, a startup that gives customers access to a digital wallet that allows them to store and spend crypto at over 40 million stores globally, is now available with Apple Pay.
The multicurrency wallet provider has said that Spend Wallet app has integrated a feature that instantly unlocks access to Apple Pay.
The integration means that users now have the opportunity to instantly convert over 20 supported cryptocurrencies into fiat and use the funds to complete mobile-based transactions using the popular iPhone payment option.
The platform expects that once interested customers Know Your Customer (KYC) processes, those eligible will be issued with a Spend Visa virtual card.
Using the card has also simplified as the company has worked on its tech to ensure all conversions happen in the background. All a user needs to do is to select the crypto they would like to use in making payments.
The ambitious startup additionally has plans to introduce the feature for Google Pay in a few days’ time, a move that will see its customers on Android access these services.
The company hopes to use its technology to help crypto holders use their assets to pay for everyday purchases, and thus help push the case for crypto in the realm of personal finance. And the main aim is to see crypto go mainstream.
Spend guarantees user security via the use of “leading encryption methods,” with the aim of ensuring users’ personal data doesn’t end up into malicious hands. The Spend card also boasts technology that prevents unauthorized use of the cards.
Added security for user funds is bolstered by the use of regulated payment platforms and other financial institutions to hold customer fiat funds.
According to Spend, the plan is to have its service available to all prospective users across the world. And that means anyone can use the company’s cards to make payments for goods or services from anywhere in the world as long as the outlet accepts Visa.
The quest for an international appeal also sees the startup offer account holders the freedom to alternate between 27 different fiat currencies, including the U.S. dollar, the euro, Sterling pound, and Canadian dollar.
Customers will have a platform that allows them to exchange between these currencies instantly, Spend said in a statement.
In a Medium post published last July, Spend highlighted that it would focus on promoting the digitization of currencies.
As part of this process, the company has looked to develop a payment system that offers an alternative financial solution targeted at the unbanked and underbanked- currently about 2 billion people globally.
For its Spend app, the startup has taken time to develop features that help users stay in control of their funds when making payments. The app will clearly specify the currency being used in a transaction and the time it will take for the transaction to clear.
It will also indicate any fees linked to the payment, and finally, allow a user to verify the transaction via facial recognition or a passcode.
Crypto traders can also use the Spend app to monitor market trends, access in-depth charts, and more.
Disclaimer: This is not investment advice. Cryptocurrencies are highly volatile assets and are very risky investments. Do your research and consult an investment professional before investing. Never invest more than you can afford to lose. Never borrow money to invest in cryptocurrencies.