A multicurrency digital wallet, Spend, which enables consumers to store crypto and spend their funds at more than 40 million outlets worldwide, says it has integrated Apple Pay in its latest version of Spend Wallet. More than 20 supported cryptocurrencies can now be instantly converted to fiat thanks to the popular iPhone feature and used to complete a mobile transaction on demand.
According to the platform, its priority has remained constant with ensuring users that they can access all of these said features instantly while streamlining the Know Your Customer process has been emphasized. Once this is complete, eligible consumers can immediately receive a Spend Visa virtual card, as CoinTelegraph reports.
The platform made the process as simple as possible. Users can select which cryptocurrency they’d like to use, while all conversions into fiat will happen behind the scenes, allowing the frustrating process of switching the assets themselves to disappear.
These cards can be used anywhere where Visa is accepted as a payment method, rather than the typical challenge for crypto enthusiasts to be able to use their assets for everyday purchases in the past. “Leading encryption methods” are used as a means of security and protection to ensure sensitive personal information doesn’t become exposed. According to the platform, fiat funds are held at licensed payment and financial institutions to give users reassurance.
Spend says support for Google Pay is to follow within the next couple of weeks, meaning owners of Android devices will be able to access similar features.
“We are a firm believer in the fourth industrial revolution and the digitization of currencies,” a blog post from July 2018 said, explaining its vision for the Spend app. “There are tremendous benefits for users worldwide to have control of their finances and to create an alternative financial solution for those whom don’t have access to banking which currently totals to 2 billion people worldwide.”