CoinZoom has announced that it is rolling out support for the major mobile payment providers for its CoinZoom Visa card users. The move will allow cardholders to link their CoinZoom cards to their devices using Apple Pay, Google Pay, or Samsung Pay. Users who take advantage of the service will be able to spend their CoinZoom cryptocurrency balances instantly and contactlessly via their smartphones.
Although crypto-connected payment cards are gaining rapid popularity over the last year or two, CoinZoom’s Visa card was among the first of its kind to launch in the United States and features a critical difference from its competitors. Many crypto payment cards require a user to convert their cryptocurrency balances to fiat as a prepayment, which they can then spend in the same way as a regular credit card.
CoinZoom works differently. It converts cryptocurrency balances instantly at the point of sale, allowing the user to pay in the currency acceptable to any one of Visa’s 53 million-strong global merchant network. However, there is no up-front requirement to convert crypto to fiat, making for a more seamless payment experience.
The latest integration means that users can now link their CoinZoom Visa card to their Apple Pay, Google Pay, or Samsung Pay accounts. Once set up, cardholders can spend their crypto without even needing to have their card swiped while still taking advantage of CoinZoom’s Visa card benefits, including up to 5% cashback in the platform’s native ZOOM tokens.
Speaking of the payment integrations, CoinZoom CEO Todd Crossland stated:
“Since our launch in 2020, CoinZoom users have used their CoinZoom Visa cards to convert and spend millions of dollars of their cryptocurrency balances to pay for everyday items like rent, utilities, gas, groceries, travel, and a myriad of other products and services.”
A Growing Global Footprint
As cryptocurrencies are currently in the midst of the biggest-ever bull market, the timing of the new integrations is highly fortunate. The current high prices of BTC and other assets allows users to extract significantly more real-world value from their holdings.
Utah-based CoinZoom has been rapidly expanding its footprint over recent years. The company aims to be a complete online digital banking solution for cryptocurrencies and fiat and provides an institutional-grade digital currency trading platform alongside its retail offering. It also operates a Venmo-like peer-to-peer payment system called ZoomMe, which allows any CoinZoom users to transmit instant payments via fiat or cryptocurrencies.
The company is a US-regulated Money Service Business with FinCEN in over fifty states and is working on an application that, if successful, would see it become only the third cryptocurrency exchange to hold the coveted New York Bitlicense.
Along with its core US business, CoinZoom also has a footprint in Europe, through its Irish subsidiary, and in Australia.
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