Crypto payments
Walmart CTO says crypto will become a ‘major’ payments disruptor
Walmart’s global chief technology officer (CTO) Suresh Kumar has tipped cryptocurrency to become a “major” area of disruption, particularly in how customers pay for virtual and physical goods in the future. Speaking at the Yahoo Finance All Markets Summit on Oct. 17, Kumar outlined Walmart’s positive stance on digital assets, noting that “crypto will become an important part of how customers transact” for both physical and virtual goods. “I think that there are three major areas of disruption. Crypto falls in sort of the middle of it,” he said, explaining that “the way in which customers are getting inspired and discovering products” is changing. Kumar also suggested that a significant amount of customers will be marketed to through the Metaverse and live streams on socia...
Bored Apes, Moonbirds to feature on NFT-customized Mastercard debit cards
Mastercard has launched customizable nonfungible token (NFT) debit cards, allowing some cardholders who own avatars from select NFT collections to add the artwork onto the payment’s card. The debit cards are made available through a Sept. 26 partnership with European cryptocurrency exchange platform, “hi” allowing its “Gold” members to personalize their debit cards with an NFT they verifiably own Gold membership with the platform is obtained by staking a minimum of 100,000 hi Dollar’s (HI), the platform’s native token, a sum worth around $4,600 according to data from CoinGecko. NEWS! Today @hi_com_official launches the world’s first debit card featuring NFT Customization, allowing cardholders to personalize the face of their card with an NFT Avatar. Read more here https://t.co/...
Aussies buy fuel and chips with crypto across 175 fuel outlets
Convenience store and petrol station brand On The Run (OTR) has launched crypto payment support across all 175 of its petrol stations and convenience stores across Victoria, South Australia (SA), and Western Australia (WA) as of Thursday. As previously reported, the move is part of a collaboration between OTR, Singapore-based exchange Crypto.com and DataMesh, a Sydney-based payment systems provider. The exchange has provided its Pay Merchant service as a payment settlement layer, while Datamesh has provided the point of sale terminals. Speaking with Cointelegraph, Crypto.com’s Asia & Pacific general manager Karl Mohan noted that it only took “eight weeks to from the time of proof of concept to the point of actually getting a full scalable production-ready environment.” Mohan noted that...
75% of retailers eyeing crypto payments within 24 months: Deloitte
Three quarters of United States retailers plan to accept crypto or stablecoin payments within the next two years according to a new survey. It also found that more than half of large retailers with revenues over $500 million are currently spending $1 million or more building the required infrastructure to make it happen. The information was revealed in Deloitte’s “Merchants Getting Ready For Crypto” report released in collaboration with PayPal on June 8. A large majority, around 85%, of the surveyed merchants said they anticipate that cryptocurrency payments will be ubiquitous in their respective industries in five years. The survey polled 2,000 senior executives at U.S. retail organizations between Dec 3 and Dec 16, 2021 when crypto prices were still riding high, but the results have only...
More than a third of AMC online payments are crypto or digital: CEO
AMC Theatres CEO Adam Aron stated that crypto along with several other digital payment methods recently accounted for 35% of its online payments. The popular cinema chain has gradually been working on various crypto adoption plays after first rolling out online payment support for Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), and Litecoin (LTC) in November. Last month it also added support for Dogecoin (DOGE) and Shiba Inu (SHIB) payments via the AMC Theatres mobile app. Speaking as part of the firm’s 2022 Q1 earnings call on May 9, Aron emphasized that the firm’s plunge into crypto has not only been met with much “fanfare” but also opened up several payment rails that it had previously explored: “The same IT programming that was required for us to accept cryptocurrency also enabled us t...
Aussie convenience store giant to accept crypto at 170 outlets
Convenience store and gas station giant On The Run (OTR) will soon accept crypto payments at its 170 outlets across South Australia and Victoria. The move will allow customers to pay for gas, snacks, and even a Subway foot long in over 30 cryptocurrencies. OTR’s parent company the Peregrine Corporation, one of the largest privately-owned companies in South Australia, will also be accepting crypto at its Subway, Oporto, and Smokemart stores. Once the system is finalized in July, it will become the largest business in the country to accept in-store crypto payments. The company is working with Singapore-based exchange Crypto.com to implement its Pay Merchant service as its payment settlement layer. Datamesh, a Sydney-based payment systems provider, will roll out point of sale terminals allowi...
Mobile banking app Dave scores $100M investment from FTX US
On March 21, mobile banking application Dave announced a partnership with FTX US to provide cryptocurrency payments on the platform. It also announced a $100 million investment from FTX Ventures. In the statement, Dave said the investment would aid its strategy for future crypto-related initiatives, with FTX US serving as its partner for cryptocurrencies. Both companies said they’re currently exploring ways to introduce crypto payments into Dave’s platform. FTX US President Brett Harrison commented that it looks to align with companies that can help drive widespread adoption of digital assets, believing Dave was a fit in that regard. Jason Wilk, Chief Executive Officer of Dave, expressed his views on the technology. “We believe blockchain technology has the potential to level the financial...
Block nets $1.18B Q4 gross profit marking a 47% YoY increase
Crypto-friendly digital payments tech firm Block, Inc. (formerly known as Square) posted $1.18 billion worth of gross profit in Q4, representing a growth of 47% over the same period in 2020. The firm led by Bitcoin maxi Jack Dorsey has multiple business arms including Cash App, Square, and the freshly acquired buy now pay later (BNPL) firm Afterpay after the $29 billion deal officially closed at the end of last month. Block’s 2021 Q4 report was posted on Feb. 24, and the firm revealed significant gross profit increases across Cash App and Square, with each firm generating $518 million and $657 million apiece to mark YoY gains of 37% and 54% respectively. In total, the company generated $4.42 billion worth of gross profit for the entirety of 2021, marking a YoY growth of 62% compared to 202...
Hot Doges and Bitcoinana Splits on offer at Florida crypto restaurant
A new crypto-themed restaurant in Florida is slinging hot dogs and shrimp cocktails inspired by Dogecoin (DOGE) and Shiba Inu (SHIB), with the Dogedogs being highly prized by customers. The Clearwater Beach-based venue is dubbed the “Crypto Street Restaurant” and held a grand opening to the public earlier this month with a menu full of names that give a nod to popular crypto-assets and terminology. Ricardo is such a gentleman. If you hit #ClearwaterBeach make sure you stop by! #crypto $BTC #shopsmallbusiness @LayahHeilpern @CryptoStaceyB @FinTechShark1 @olya_borderless pic.twitter.com/QVPObPf3Ff — Alexandre Lores (@alexandre_lores) December 10, 2021 The menu boasts dishes such as the Dogedog, Crypto Cuban, DeFi Caesar Salad, SHIBA Shrimp Cocktail and the Bitcoinana Split to name a few, whi...
