Binances announces users can now buy crypto using credit and debit cards via Apple and Google Pay. This means that anyone with a Binance account can buy crypto with a credit or debit card on Apple Pay or Google Pay.
According to Binance, this service is only available to citizens of UK and EEA (European Economic Area) which includes Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, and Switzerland.
Furthermore, users who want to access the service are required to have completed their account verification process, the Binance team said. The team also explained that the new service is made available “through the services of third-party partners that Binance works with from time to time and are not provided by Binance directly”.
Crypto payment systems
Before now, Binance created the Binance Pay, a digital system that allows verified users on Binance to pay and get paid in crypto. Another payment method issued by Binance is the Binance Card, a debit card created in partnership with Visa. It has a virtual and physical version, and has procedures for usage.
Earlier in October, Google announced that it will allow part of its customers to pay for cloud services using crypto by 2023. The integration is being developed alongside Coinbase Prime, which is a crypto platform that allows trading and storage of cryptocurrencies.
Another global payment service, MasterCard launched a program in mid October to “allow financial institutions to offer cryptocurrency trading to their clients”. Jorn Lambert, Chief Digital Officer of MasterCard said that there’s a huge customer base “out there that are really interested in this, and intrigued by crypto,” but will be more assured of their financial institutions offer the services.