Coinbase will now allow its users to pay on their mobile phones through Apple Pay and Google Pay.
“Starting today, you can use your Coinbase card with Apple Pay and Google Pay”.
This news marks a new integration between two major US companies, showing the continued momentum of cryptocurrencies in the mainstream of retail.
Coinbase Card will allow users to use their balances of Bitcoin and other cryptocurrencies to make purchases in stores or withdraw cash from ATMs, in fact this product was already available to users in Europe and the United Kingdom since last year, now it will be available to users in the United States who are on a “waiting list”.
In the published blog they let it be known that they would be choosing selected customers from the “waiting list” starting this week, those who have their debit card approved can start using it immediately through Apple Pay even if they do not have the physical card.
Likewise, the company announced in conjunction with Apple Pay that US customers will also be able to use Google Pay, which has been available to debit card users in the UK and Europe as well since last year.
For US users, this benefit comes with rewards, with 1% cashback in Bitcoin for every purchase or 4% cashback in Stellar Lumens, according to Coinbase. However, the rewards benefit is only available to Coinbase customers in the United States, which means that cryptocurrency debit card transactions remain a dubious value proposition for those in Europe and the United Kingdom.
Now, Coinbase is one of several companies that offer crypto debit cards and is based on the Visa network which is widely used to process debit payments. BitPay and Gemini are other companies that offer these crypto cards and have also announced their own integrations with Apple Pay.