According to reports, Google Pay integration with CryptoCom will start to roll out by the end of next week.
Now that the cryptocurrency market has started to recover from its recent downturn, CryptoCom, a platform for exchanging virtual assets, is developing fresher strategies to entice users back to its website.Google Pay support will soon be added to the platform’s app, enabling users to buy cryptocurrency via Google’s online payment system.According to Google CEO Sundar Pichai, Google Pay is currently used by more than 150 million individuals in 40 different countries.This effectively means that CryptoCom is opening the door for millions of people all around the world to join the crypto express.
The integration of Google Pay with CryptoCom, which is apparently scheduled to launch by next week, aims to make buying cryptocurrency for Google Pay customers as simple as a tap.
After deciding which cryptocurrencies they want to buy, users who want to test the service must choose the “Google Pay” option under the “Cash” page.
To make transactions possible, Google Pay users must update their debit or credit card information.
According to a CryptoPotato report, CryptoCom stated in a statement, “Once the purchase is complete, the balances will be changed correspondingly in customers’ crypto wallets and they will also be able to view their transaction history in the Crypto.com app”.
Regarding Google Pay, this is not the first time the company has worked with a crypto company to handle the purchase of cryptocurrency assets.
American cryptocurrency exchange Gemini began enabling users to purchase virtual goods with both Google Pay and Apple Pay in April 2021.
Even the cryptocurrency payment processor BitPay enables customers to connect to Apple Wallet and make purchases with digital currencies like BTC and ETH.
While major tech companies and crypto players are working together to promote safe crypto adoption in other countries, India has continued to take a very conservative stance when it comes to facilitating the purchase of crypto assets.
One of the biggest cryptocurrency exchanges in the world, Coinbase, revealed in April of this year that it was integrating India’s UPI payment system with its platform to make purchasing cryptocurrencies simple.
The National Payments Corporation of India (NPCI) issued a statement on April 7 refusing to recognise Coinbase’s UPI-linked crypto-buying capability, forcing Coinbase to immediately stop supporting UPI payments.
Later in May, Brian Armstrong, CEO of Coinbase, charged that the Reserve Bank of India had been exerting “soft, informal pressure behind the scenes to try to deactivate some of these payments, which may be flowing through UPI”.
Currently, Google Pay, Apple Pay, and other similar service providers do not allow Indian cryptocurrency investors to buy assets.