Samsung Pay mobile payment app will soon get full support for Bitcoin, Ethereum, Bitcoin Cash and other popular cryptocurrencies. It will be made possible by the American startup BitPay, which, according to its words, is the world's largest provider of payment services in the field of virtual currencies. Mobile payment will therefore be an even bigger hit than it is now. He is also doing very well Revolut review with lots of positive reviews.
The company BitPay, whether the largest provider of payment services in area of cryptocurrencies whether it really is or not, it's been around since the early days of the blockchain boom and is generally regarded as one of the most stable pillars of the highly volatile industry.
BitPay will support cryptocurrencies in the Samsung Pay application in the form of its BitPay Wallet cryptocurrency. As is usually the case with the expansion of such an ecosystem, Samsung's partner "solves" the new currency by converting it to a regular prepaid card, which the user can then add to the application.
The backend of the system will be provided by Mastercard, which will enable both virtual and physical BitPay cards. In addition to bitcoin, ethereum and bitcoin cash, the service will also support today's most popular stablecoins USDC, BUSD, GUSD and PAX.
BitPay will charge merchants a 3 percent fee for the service (which is a very low number; payment card operators also charge XNUMX percent fees for facilitating payments). Whether or not merchants then pass some (or all) of these costs on to customers, however, remains up to them as with other types of transactions.
You could be interested in
