US-based Cryptocurrency exchange CoinZoom has added Apple Pay and Google Pay as funding options on its Android and iOS apps.
Following this integration, CoinZoom customers will receive access to a range of free or low-cost financial services and will be able to purchase cryptocurrency with the tap of a button. According to the official press release, digital wallets backed by debit cards have become the fastest-growing preference for payment among smartphone users following the COVID-19 pandemic.
Younger consumers are particularly interested in more mobile payment options, as well as more ‘Buy Now, Pay Later’ options and are looking for better rewards for their everyday spending. CoinZoom officials emphasised that one of the main obstacles to crypto adoption is the lack of an easy and convenient way to load funds onto an account or wallet to spend or invest. In order to remove this barrier, the company has made it a priority to implement numerous funding options such as debit cards, ACH deposits, wire transfers, credit cards, and now Apple Pay and Google Pay.
They also highlighted the user-friendliness of the system and how it can be used to deposit and transfer funds on the CoinZoom platform from a smartphone. The funds can then be spent or invested in various forms such as dollars or crypto. Users can also purchase NFTs on the CoinZoom marketplace via Apple Pay and Google Pay.
CoinZoom is a fintech provider that offers services in buying, selling, sending and spending Bitcoin, Ethereum, and over 40 other digital currencies. CoinZoom's premier product lineup includes the CoinZoom Visa card, which allows customers to instantly convert crypto to fiat and spend it at over 53 million merchants around the world. CoinZoom also offers its global customers a premier Peer-to-Peer payments system called ZoomMe.
By leveraging blockchain technologies, digital transfers can become instant without breaking the bank in terms of fees. CoinZoom users can send USD and crypto domestically or internationally to other users instantly through the ZoomMe service. According to the company press release, the remittance industry charges 6% fees on average globally, which adds up to a total revenue of over USD 40 billion at a market value of USD 672.46 billion in 2021 (according to data from the World Bank).
CoinZoom is a US-registered Money Services Business with FinCen, as well as a US-registered Money Transmitter, and it is available for trading in 48 states. The company also has subsidiaries in Australia and Ireland.