Crypto payments on Google Pay – Users of the Bakkt exchange will now be able to pay for their purchases in Bitcoin (BTC) and other cryptocurrencies, through Google Pay. Bakkt is advancing in the race for crypto payments thanks to this new strategic partnership with Google.
Bakkt and Google: another victory for cryptocurrency payments
On October 08, 2021, Bakkt announced in a press release its partnership with Google to allow its users to pay for their purchases in bitcoins and other cryptocurrencies via Google Pay. Exchange customers will thus be able to add their Visa Bakkt debit card to Google Pay. Cryptocurrencies will be converted to fiat for payment.
Bakkt also collaborates with Google to collect behavioral data from its customers. It will use Google Cloud to develop new analysis, artificial intelligence, machine learning and geolocation features on its platform. The information will help set up new programs to reward the loyalty of Bakkt customers. They will also be made available to Bakkt partners.
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Bakkt alongside other giants in the race for bitcoin and cryptocurrency payments
Bakkt therefore continues to develop its cryptocurrency payment offer through this partnership with Google. Through these initiatives, it strengthens its position on the cryptocurrency markets, as stated by its CEO, Gavin Michael:
“This partnership is a testament to Bakkt’s strong position in the digital asset market, to enable consumers to enjoy their digital assets in real time, in a secure and reliable manner. “
Bakkt launched its payment application on March 30, 2021. The application allows its users to manage their Bitcoins and other digital assets such as loyalty points, to pay for their purchases.
Bakkt has embarked on the race for cryptocurrency payments alongside other financial institutions that initially operated in traditional finance, such as PayPal, which announced at the end of March 2021 that it accepted cryptocurrency payments for 29 million merchant members of the network.
Bakkt has built a bridge connecting it to Google Pay, further increasing the area of convergence between cryptocurrencies and fiats currencies. The exchange is helping other players in the cryptosphere, such as Stellar (XLM) who recently partnered with MoneyGram, to narrow the gap between traditional finance and modern finance.
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