BitPay bolsters wallet app features with Wyre integration

By Pavithra R

Blockchain payment technology provider BitPay has announced a new feature enabling users to buy cryptocurrency from within the BitPay Wallet App using Wyre. 

Wyre is leveraging blockchain technology to build the fastest and most cost-effective way to transfer money internationally. It is a regulated payment institution that connects fiat rails to blockchain ecosystems. The Wyre integration enables customers to now buy Bitcoin and ETH using a debit card or Apply Pay through the BitPay Wallet App with one-click without the requirement of a Wyre account. BitPay is planning to include increased options to purchase other cryptos like XRP and stablecoins and purchasing channels such as Samsung and Google Pay in the coming months.

“Crypto has revolutionized the way we deal with payments domestically and internationally by allowing the swift mobility of funds in an otherwise slow and outdated legacy system. In the midst of a global pandemic, it’s more important than ever to streamline global payouts to reach our partners in hard-hit communities as quickly as possible,” said Liana Spano, Chief of Staff at Wyre.

The company in January added crypto purchases with credit cards to the BitPay app through a partnership with Simplex. The BitPay app now offers:

• a secure, non-custodial wallet. Its Multi-factor security leverages private key encryption, PINs, and biometric authentication for enhanced security,
• crypto purchases with credit cards, debit cards, Apple Pay, and soon Google Pay and Samsung Pay,
• the ability to spend Bitcoin, Bitcoin Cash, Ethereum and dollar-pegged stablecoins directly with hundreds of BitPay merchants,
• instant loads to the BitPay prepaid Mastercard to spend crypto anywhere Mastercard is accepted.

“Working with Wyre helps us to offer solutions to the market making the blockchain payments more accessible not just to power crypto users but those who are looking to crypto for the first time. The BitPay Wallet App enables users to take control of crypto through everyday spending, safer storage and managing funds across platforms,” said Stephen Pair, co-founder and CEO of BitPay.

Recently, BitPay entered into a mutually beneficial partnership with Coinbase.

Founded in 2011, BitPay builds powerful, enterprise-grade tools for crypto acceptance and spending. The FinTech is developing blockchain payment technology to transform how businesses and people send, receive, and store money around the world.