Samsung, the electronics giant company, has announced support for cryptocurrency payment on its digital payment platform dubbed Samsung Pay. The new Samsung crypto payment support was achieved in partnership with Swipe, a digital currency payment platform.
Samsung crypto payment support
Per the announcement, Swipe inked the partnership on May 1. With the latest Samsung crypto payment, the users on the Samsung payment platform now have the option to conduct digital currency transactions using the Swipe Visa card.
The crypto support opens a broader opportunity, especially for the Swipe cardholders in the European Union as well as the UK. It will enable them to process cryptocurrency payments to at least 50 million regions around the world, right from their crypto balances.
Amid the Samsung crypto payment support, Swipe now boasts of being the first-ever digital wallet company to offer crypto services with the electronics giant, including the prominent technology company, Google Pay.
John Khenneth, the COO at Swipe, said in the report that the company is looking to tap into Samsung lovers through the partnership. Additionally, these people are also pushing the awareness of digital currencies to the larger audience through their support on blockchain initiatives from Samsung.
COVID-19 spurred high demand for digital payments
The report is coming at a time where the public is seeking to do away with the cash transaction and physical money. This is due to the warnings that banknotes can be contaminated with the Coronavirus, thereby increasing the chances of more spread of the virus.
Already, transactions with digital payment platforms, including Google Pay, have increased since the outbreak of COVID-19, as confirmed by Khenneth in the report. The COO expects digital payment platforms, including the Samsung crypto payment option to enable a seamless payment system.
Meanwhile, Swipe was recently greenlighted to offer its services in the United States. The company is also working to provide its services in the Southeast Asia/Asia Pacific region towards the end of 2020.