Cryptocurrency exchange platform Coinbase is making moves to improve its user experience a far as payments are concerned. Coinbase announced its addition of the most popular digital payments feature, Apple Pay, for its debit card offering, Coinbase Card.
Coinbase Card is a feature that enables Coinbase users to make purchases in stores from their crypto wallet balance. Moreover, customers can also make cash withdrawals from ATMs using Coinbase Card.
The leading cryptocurrency exchange platform Coinbase previously added Google Pay for its U.K. customers. The Google Pay feature will now be rolled out to customers in the U.S.
Coinbase Card is available for customers in the U.K. and Europe. U.S. customers have been on a waitlist for this feature since last year. Thus, U.S. residents will not utilize Coinbase’s Apple Pay feature, despite it being the most popular mobile payments system in the country.
Crypto Rebates of Up to 4% of Purchases for Customers Who Use Shop on Apple Pay
In its announcement, Coinbase clarified that approved customers could start shopping immediately via Apple Pay on Coinbase Card. There would be no requirement to wait for the processing of a physical card.
Coinbase offers crypto rebates as an incentive for users to sign up for the Apple Pay for Coinbase Card feature. The rewards a 1% back in Bitcoin for every purchase. Alternatively, customers can also earn 4% back in Stellar Lumens.
Customers wishing to utilize Coinbase’s Apple Pay feature should be aware of the transaction fees that apply to crypto debit cards. However, the crypto rebate incentive will help outweigh up to 2.75% of this transaction cost.
USDC Purchases Will be Free from Transaction Fees
Cryptocurrency exchange Coinbase additionally exempted USDC from transaction fees. Customers will not incur any transaction cost with USDC purchases and will also earn 1% back in Bitcoin.
Together with Apple Pay’s already existing popularity, the rewards could shoot up crypto payments in the selected regions. Apple Pay on Coinbase Card could be the much-awaited breakthrough for cryptocurrency into mainstream finance.