Its integration with Google Pay with CryptoCom is expected to be in place in the coming week.
CryptoCom is an exchange that trades virtual assets has been working on innovative ways to attract businesses to its platform after the cryptocurrency industry is beginning to recover from the recent downturn. The platform is set to soon be expanding its Google Pay support on its application, allowing users to purchase cryptocurrency using Google’s payment platform online. According to Google CEO Sundar Pichai more than 150 million users across 40 countries are currently using Google Pay. This basically means that CryptoCom is paving the way to join the crypto train for millions of people across the globe.
Its integration with Google Pay with CryptoCom which is expected to roll out next week is designed to make cryptocurrency purchases just a tap at a time for Google Pay users.
People who are interested in testing the feature must choose the ‘Google Pay’ option in the tab ‘Cash’ following the selection of what they want to buy in cryptocurrencies they wish to purchase.
The debit or credit card information of individuals must be changed to Google Pay to facilitate transactions.
“Once your purchase has been completed the balances will be adjusted in the users’ crypto wallets, and they’ll also be able to view their transaction history on the Crypto.com application,” a CryptoPotato report was quoted by CryptoCom as declaring in an announcement.
For Google Pay, this is not the first time it has partnered with a crypto-related company to handle the purchase of crypto-based assets.
On April 20, 2021 American cryptocurrency trading platform Gemini was the first to allow customers to buy virtual assets with Google Pay as well as Apple Pay.
Actually, the crypto processing company BitPay lets its customers join Apple Wallet and pay for items and services using digital currencies such as BTC as well as ETH.
While crypto traders and major tech companies are collaborating to encourage safe use of crypto across other nations, India has maintained a somewhat restrictive policy in making it easy to acquisition of cryptocurrency assets.
In April, Coinbase, one of the most renowned cryptocurrency exchanges around the globe has announced it is in the process of integrating the Indian UPI payments system into its platform in order to facilitate the purchasing of cryptocurrencies.
In the end, Coinbase had to stop its support of UPI payments within a matter of days as it was the National Payments Corporation of India (NPCI) issued an announcement on April 7 refusing to recognize Coinbase UPI-linked crypto-buying features.
In June, Coinbase Chief Executive Brian Armstrong claimed that the Reserve Bank of India of using “a subtle informal pressure in the background to block certain payments which could be by UPI”.
Presently, Indian crypto investors cannot purchase crypto assets through Google Pay or Apple Pay along with other similar service providers.