Introducing Google Pay on Crypto.Com
Google Pay, with over 100 million active users, allows for sending, receiving, and paying for goods and services globally. The recent integration of Google Pay into Crypto.com offers these millions of users an exciting opportunity to access the crypto markets through the trusted Singapore-based exchange.
CryptoChipy Limited anticipates that the integration will go live in about a week. Once available, users who have already linked their debit or credit cards to their accounts can select Google Pay as a payment option when purchasing crypto. Crypto.com, with over 50 million users, offers access to over 250 cryptocurrencies, including Bitcoin.
Previously, Crypto.com rolled out Google Pay integration in countries like Australia and New Zealand on May 19, 2022. In these regions, Google Pay was available to VISA cardholders who also had a Crypto.com account, allowing payments to be made via the Google Pay application.
To access the new Google Pay feature, users can click the Trade button on Crypto.com’s homepage, select Buy, and then opt for Google Pay under the cash section as the payment method.
Growth and Advancements of Crypto.com
Despite challenging market conditions, Crypto.com has been expanding its global presence. CryptoChipy has highlighted the exchange’s regulatory achievements in several countries, including receiving approval from the Italian financial regulators. Crypto.com has secured the Organismo Agenti e Mediatori [OAM] license, allowing it to offer its diverse services to Italian users. Additionally, the exchange has received an in-principle Major Payment Institution License from the Monetary Authority of Singapore, along with regulatory approvals in Europe and Asia, including Greece and Dubai.
The Role of Google Pay Integration in the Crypto Sector
Major payment systems have been integrating cryptocurrency wallets and exchanges for some time, and Google Pay’s collaboration with Crypto.com was anticipated. In January 2024, Google Pay made its intentions to further engage with the cryptocurrency space clear through the appointment of Arnold Goldberg, a former PayPal executive, who now leads Google Pay’s payments division.
CryptoChipy had predicted this move by Google Pay since 2021. In April of that year, Google Pay integrated with the Gemini exchange, offering similar functionalities to what Crypto.com now provides. This partnership enabled the exchange to support over 30 cryptocurrencies, including Bitcoin, Litecoin, Ether, Filecoin, and Bitcoin Cash, available in more than 50 countries.
Additionally, Coinbase teamed up with Google Pay in June 2021, allowing its users to pay for goods and services through Google Pay using the Coinbase Card. Google Pay also partnered with Bakkt in October 2021 to enable its virtual debit card holders to make purchases using the service. In April 2022, Nexon, a crypto exchange, integrated Google Pay when launching its cryptocurrency MasterCards, which allowed users to make purchases with any merchant accepting VISA.
Significance of Google Pay’s Integration in Crypto
The integration of Google Pay into the crypto industry is highly significant. Users often face challenges when depositing with other methods, particularly when using unconventional payment systems. With Google Pay, there’s no need to use a separate debit card or create a hard wallet, making transactions much simpler. As a payment processor that users are familiar with, Google Pay allows for fast and flexible cashouts, with payments processed instantly.
CryptoChipy sees Google Pay as a quick, easy, and dependable method for making deposits on crypto platforms like Crypto.com.
