The future of crypto payment enablement

The future of crypto payment enablement

While cryptocurrencies have increasingly gained recognition as a (speculative) investment product, their usability for consumer payments remains very mixed. However, that may be changing, most recently with the news that Visa has settled its first transaction using the US dollar-pegged stablecoin USD Coin and PayPal is allowing US customers to pay with cryptocurrencies.

But how many of the leading payment processors and card networks are introducing support for payments in cryptocurrency?

While most of the top public companies have shown at least hesitant interest in the area, not everyone is behind the idea of cryptocurrencies being a viable method of payment for consumers. Adyen CEO Pieter van der Does, for example, said in February that Bitcoin and other cryptocurrencies were better suited to being investment assets – and that the company saw no demand for them as payments among their customers.

Nevertheless, the tide seems to be turning. Mastercard, too, has announced that it will begin to allow companies to accept crypto payments on its network later this year, while both Worldline and Global Payments also have launched limited support. 

Whether this progresses to widespread acceptance and normalisation of cryptocurrencies as a payment method, however, remains to be seen. We’re still a long way from that being the case, and for it to happen, crypto will need to see a significant jump in support as a payment method.

Sign up to our newsletter to stay up to date on industry developments

Read More About

What are 2023’s biggest trends for cross-border payments startups funding?

December 7th, 2023

Block share price rises after Bitcoin-driven growth in Q3 23

November 6th, 2023

Coinbase revenues rise in Q3 23 but trading volumes fall

November 3rd, 2023

Sign In
Account Registration
By creating an account, you agree to our
Terms and Conditions
Please enter your email address
We'll send you instructions on how to reset your password.