Circle integrates Apple Pay to enable USDC payment
The widespread adoption of cryptocurrencies just got a boost in these turbulent times. USDC stablecoin issuer Circle has just added support for Apple Pay to allow crypto businesses to accept the payment method.
Although the iPhone maker does not support crypto payment directly, USDC users will have the option to make in-app purchases via credit or debit card through Apple Pay.
Apple Pay allows users to save their credit card details on their iPhone devices, instead of storing the actual card numbers on the device or on Apple servers, and then they can pay via contactless terminals within stores or purchase items through apps.
“This can be particularly powerful for crypto-native businesses, as it can help them build stronger connections with customers who want to pay using more traditional methods and even allow them to buy crypto with Apple Pay on their preferred exchange. In fact, Apple Pay and Circle’s payment solution allow crypto-native businesses to accept payments from customers who don’t use crypto at all,” the company states.
Circle also touted the integration as a way to help NFT marketplaces, crypto games, crypto exchanges, crypto wallets, and cross-border money transfer providers grow their business by making it easier to pay with Apple Pay and USDC. Traditional businesses can also take advantage of this new feature to shift more retail payments to digital currency and reap the benefits of USDC settlement, he added.
One result of the new feature is that users will be able to make payments through Apple’s Safari browser or within apps using iPhone, Apple Watch, iPad and other supported devices. With the new Apple Pay feature, they will no longer have to create an account or fill out lengthy forms. But it should be noted that to use the new payment option, the customer must have a Visa, Mastercard or Maestro card that has been provisioned for Apple Pay.
Circle has expanded the scope of the offering which primarily focuses on retail and investment to attract B2B partnerships. The Boston-based company revealed earlier this month that it plans to roll out its euro-pegged stablecoin on the Solana (SOL) network in the first half of 2023.
The move to expand native Euro Coin support and access to a new permissionless cross-chain infrastructure marks the first in a series of Circle commitments to integrate with other blockchains, including Ethererum and Avalanche.
Prior to its collapse, Sam Bankman-Fried’s crypto exchange FTX was supposed to be the first platform to support Solana-based Euro Coin deposits, withdrawals, and trading at launch.