- Summary:
- MoonPay and BitPay aim to leverage their strengths in the market to make crypto payments more widely used in the mainstream economy.
BitPay, the cryptocurrency payments processor, has teamed up with crypto payments company MoonPay to strengthen BitPay’s crypto services. Thanks to this collaboration, customers using BitPay to buy crypto will have an improved experience when using the platform. By combining the resource of these two industry giants, BitPay customers will have near-instant access to a variety of cryptocurrencies.
The MoonPay partnership and BitPay’s growing crypto payments ecosystem
BitPay’s innovative marketplace platform provides buyers with access to different rates, allowing them to select the most advantageous exchange rate at the time of purchase. Also, with a processing fee of only 1%, this service is significantly cheaper than fiat gateways. BitPay’s business model is attractive to many retailers since it allows them to receive payments in fiat currency rather than the cryptocurrency preferred by their customers.
With the MoonPay partnership, customers can also use their favourite payment method like a credit card, debit card, Google Pay, Apple Pay, or bank transfer.
The partnership also allows BitPay users to transact in over 60 crypto assets. In celebration of the new partnership, all cryptocurrency purchases made by first-time buyers will be free of transaction fees for a limited time. MooonPay is now integrated with BitPay, allowing users to buy cryptocurrency directly from BitPay.com and BitPay Wallet app.
Although not quite present worldwide, BitPay does support crypto payments in 38 countries and 8 different currencies. Additionally, the company has shown considerable interest in broadening its international presence. This week, the firm inked a deal with renowned online retailer Jomashop, which houses well-known names in the fashion and luxury industries. The partnership allows customers to shop on the platform and pay for luxury watches using cryptocurrency. Additionally, the company has forged an alliance with Porsche to enable buyers to use BitPay to purchase Porsche vehicles.