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Cryptocurrency, a concept that emerged more than a decade ago, has now become a highly buzzing word across the financial sector for a year. Initially, people sought cryptocurrencies for investments but now, with the advent of high-end technologies that facilitate hassle-free instant payments, Cryptocurrencies have entered the payments zone.
Most of the large companies are keen on crypto payments and some have even invested in technologies that facilitate efficient payments via cryptocurrencies.
Why are major companies across different domains choosing crypto payments?
It aids in increasing the customer base, as most people are choosing businesses that have crypto payments because of reasons like hassle-free international payments, low transaction fees, etc.
The rapid digital advancements in the financial sector have led to the rise in Cryptocurrency preference. Thus, businesses tend to align with those companies that have invested in Crypto-related technologies.
Crypto payments put companies on the map of future technological breakthroughs. Currently, Cryptocurrencies are recognized as one of the prominent future payment channels, and this is the right time for companies to invest in the same.
Payments made via cryptocurrency are transparent, instant, secure, and do not include any additional charges as compared to other payment methods.
Companies opening access to crypto payments also have the chance to open new capital or tokenize their existing capital for better liquidity maintenance.
Here are some notable organizations that have successfully accepted crypto payments:
Around the end of 2014, cryptocurrencies had faced a lot of backslashes due to certain misinterpreted discrepancies. Most businesses and consumers were against investing in Cryptocurrencies.
During this critical phase, Microsoft took a risky plunge into the pool of crypto payments. The company started accepting payments for gaming and apps on Windows and Xbox platforms.
With the ongoing pandemic and the rise in the demand for digital payments, PayPal, in 2020, announced their entry to the world of crypto payments.
Today PayPal stands to be one of the biggest cryptocurrency and crypto payment platforms. Apart from buying or selling cryptocurrencies, you can even make purchases using the same. PayPal accepts Bitcoin, Ethereum, Litecoin, etc.
Coming to the Master of crypto payments - Overstock.com started accepting crypto payments in early 2014. Overstock.com beat Microsoft and PayPal in taking the risk of the crypto platform in partnership with Coinbase. In fact, it also has invested in Blockchain technology to help step up the world of Cryptocurrencies.
Fancy a Starbucks coffee? How about making it a bit fancier? In 2020, right at the beginning of the Covid-19 fiasco, Starbucks entered the mighty crypto dynasty with the help of Bakkt, the crypto exchange partner.
AT&T is the first US-based telecommunications company that accept payments via cryptocurrencies. This initiation started in 2019 in association with BitPay as part of their brand services expansion.
Now you can book your hotels and flights on Travala.com via crypto payments in partnership with Binance Pay and crypto.com. Travala.com accepts Cardano, Bitcoin, Dogecoin, etc., and they also have their own cryptocurrency - AVA.
Interested in shopping online? How about shopping on one of the biggest e-commerce platforms and paying via crypto payments? Yes, Shopify started accepting crypto payments as early as 2013. They currently accept Bitcoin.
Crypto payments entered the aviation world with airBaltic in 2014. airBaltic has been very successful with their crypto payments, and they have made a good amount of successful transactions to date.
9. Pavillion Hotel and Resorts
How about staying in one of the luxurious hotels by paying via crypto payments? This Hong-Kong-based hotel chain extended its payment options to cryptocurrencies in 2021. Pavillion Hotel and Resorts is the first international hotel chain to welcome Crypto payments.
Another air and hotel booking platform to encourage crypto payments is CheapAir.com. They started accepting cryptocurrencies in 2013 and currently accept most coins, including Bitcoin, Ethereum, Dogecoin, etc.
11. Whole Foods
Did you imagine buying groceries via crypto payments any day? Well, if yes, then here is your reality. Whole Foods joined the club of crypto payments in 2019 via a platform that converted Bitcoins automatically to dollars. This technology also led many big retailers to accept crypto payments.
Unknown to many, Newegg, one of the biggest retail companies, has been accepting crypto payments since 2014. Since then, they have constantly increased their crypto coin options successfully, including Bitcoin, Ethereum, Litecoin, etc., to the latest Shiba Inu Token. Unlike the rest of the companies listed, they have chosen to take a direct payment path without any gateway partner.
As a part of their customer loyalty program, Mastercard came in partnership with Amber, BitKub, and CoinJar in 2021 to facilitate crypto payments. Customers can now store cryptocurrencies in their digital wallets, along with buying and selling crypto coins.
14. AXA Insurance
People of Switzerland can now pay their insurance via crypto payments with the help of AXA insurance. This became the first major insurer to allow Cryptocurrency based insurance. Owing to the rapid digital financial transformation due to the pandemic, AXA insurance decided to welcome crypto payments with open hands.
In 2021, one of the finest auction companies, Sotheby’s, confirmed that they would accept crypto payments in collaboration with Coinbase. They started their crypto payment journey with Bitcoin and Ethereum.
These companies conclusively tell the same tale that crypto payments are here to stay for a while. However, there are hundreds of other queries businesses have that need transparent answers. Overall, for any business or company to accept crypto payments, the crucial aspect is to choose the best cryptocurrency payment gateway partner.
iPint assists such businesses with hassle-free payments, easy-to-understand payment transaction UI, instant transaction and invoice generation, etc., making crypto payments as easy as other payment options.
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