More and more people are using crypto currency as many more organisations are incorporating crypto currency into their businesses offering services through cryptocurrency payments. Cryptocurrency started to go mainstream when the crypto bull ran in 2021.
When we google how many businesses accept Bitcoin, Google responded with 15,174 businesses worldwide accepting bitcoin. Around 2,300 US businesses accept bitcoin.
We are going to draw emphasis on a few of the big players who accept crypto currently, and these businesses may be the forerunners in adopting Blockchain technology that helps bridge the gap between consumers and technology.
The top credit card companies Mastercard and Visa are providing crypto options to consumers,
Mastercard / Visa
Mastercard is allowing users to buy, sell and store crypto currencies in their digital wallets, their service is provided in partnership with Bakkt. Their loyalty programmes will reward users with crypto currencies too.
Visa, on the other hand, provides users to settle their bills using USDC, a stablecoin by Circle (we have trading pairs with USDC too!), which is pegged to US dollars.
Other notable companies that provide crypto currencies services are as follows:
Rakuten
The Japanese online shopping and cash back site allows Bitcoin, Bitcoin Cash and Ethereum payment through their Rakuten Wallet and integrated system with Bitnet payment processing platform. The service however is available in the US and extended to Germany and Austria. Source: Yahoo Finance.
Etsy
The global online shopping platform provides the option to sellers to accept crypto currency. Buyers can select to pay through “others” and opt for Bitcoin, which is the only crypto Etsy accepts for the time being.
Starbucks
Consumers are not able to buy coffee using crypto currencies directly, however they can use their Starbucks app, acting like a third party wallet to pay for products. It is similar to purchasing gift cards and using frequent flyer points. Starbucks uses the Bakkt app to convert Bitcoin (yes, currently Starbucks supports only Bitcoin) into cash to facilitate payments.
Twitch
Part of Amazon, the online video streaming service mainly for gamers and influencers accepts Bitcoin, Bitcoin Cash and Ether, as well as lesser-used coins like BUSD, PAX, GUSD, USDC, and XRP.
Coca Cola
The most popular drinks can now be vended in Australia and New Zealand by crypto payments. The drink maker uses a third party payment platform, Centrapay to facilitate the payments found on the vending machines.
AXA Insurance
Unfortunately, insurance premiums paid by Bitcoin are only available in Switzerland. The reason they decided to provide crypto currency payment options is due to their research of aged 18-55 audiences who are invested in crypto currencies. However, in order to pay with Bitcoin, consumers have to go through Bitcoin Suisse.
As we continue to see more and more adoption and populating uses for crypto currencies, we can conclude that the change of user behaviour towards consumer markets and crypto currencies alike are fueled by the pandemic. The forced changes in the society and habits made many unravel the use of crypto currencies and allowed consumers to get more used to digital currencies.
Will the world move towards providing crypto payment options to consumers down to your convenience stall? If you think that will be a trend, have you started buying crypto then?
References
10 Major Companies That Accept Bitcoin,
https://finance.yahoo.com/news/10-major-companies-accept-bitcoin-190340692.html
Paying with Bitcoin: These are the major companies that accept crypto as payment,
https://www.euronews.com/next/2021/12/04/paying-with-cryptocurrencies-these-are-the-major-companies-that-accept-cryptos-as-payment
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