The largest U.S.-based cryptocurrency exchange Coinbase stated that it has integrated Apple Pay and Google Pay, enabling online shoppers to pay with their Coinbase Card on both online payment platforms, while also earning crypto rewards.
Shop With Coinbase Card on Apple Pay and Google Pay
In a blog post on Tuesday (June 1, 2021), Coinbase announced that customers who shop on Apple Pay and Google Pay get crypto rebates up to four percent on all their purchases.
Coinbase also stated that selected customers on the waitlist will start enjoying the crypto rewards beginning this June. Furthermore, the company 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.
An excerpt from the blog post reads:
“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.”
The U.S. crypto exchange first launched its Visa debit card back in April 2019 in the UK to enable seamless payment with bitcoin and other crypto for goods and services. Since its unveiling in the UK, Coinbase has launched its cards in different parts of Europe.
Back in October 2020, Coinbase introduced its Visa debit card in the U.S., allowing customers to join the waitlist. The Coinbase card is now available in almost 30 countries. However, the Coinbase Card reward program will initially be accessible to only U.S. customers. Also, the company stated that it has plans to expand the scope of its debit card reward program.
Coinbase’s latest announcement comes amid the steady growth of mobile phone payments in the U.S. While countries like China are ahead with over 80 percent, the United States witnessed a 20% increase in 2020.
Apart from Coinbase, another crypto exchange Gemini, in collaboration with payments giant Mastercard announced back in April plans to launch a Gemini credit card that enables users earn three percent in bitcoin rewards when they shop. Also, a Mastercard survey back in May revealed that 40% of respondents are open to using crypto payment option in 2022.