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Coinbase Exchange has announced that it has integrated Google Pay and Apple Pay into its Payment card. This will enable online shoppers to pay on both payment platforms with their Coinbase Card, while they earn rebates in the process.
The Coinbase Card is powered by VISA debit card services that base its rewards on crypto rather than fiat currency. The card allows its holders to spend their crypto tokens at any location where Visa cards are accepted.
Holders to earn 4% in Stellar and 1% in Bitcoin
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This card is a bit different from other crypto-based debit cards because it enables direct spending from the Coinbase account of the user.
The card enables its holders to earn about 4% in Stellar Lumens (XLM/USD) and 1% in Bitcoin (BTC/USD) as rewards. Presently, it supports about 30 different cryptocurrencies.
On Tuesday, Coinbase announced that the new feature in a blog post, stating that selected customers on the waitlist will start gaining crypto rewards on their transactions from June.
Additionally, the exchange, which is the largest in the U.S., said it will enable users to make fiat purchases and ATM withdrawals by converting crypto to fiat and transferring the funds to their Coinbase account.
Service is only available in the U.S for now
The company’s Visa debit card was rolled out in April 2019 in the U.K. to make it more convenient to complete transactions for goods and services using cryptocurrencies. After unveiling the service in the U.K., it has been launched in major European countries.
However, it wasn’t until October last year that the exchange’s U.S-based users were able to enjoy the service. The recently launched card reward program will also be available to only U.S. customers for now. But in the future, it wants to extend the service to other countries as well.