Moonpay launches credit card checkout for NFT purchases
By Edlyn Cardoza
Recently, MoonPay, a leading global crypto payments infrastructure provider, announced the launch of NFT Checkout, a plug-and-play solution allowing any brand, creator, or marketplace to give their users a simpler, faster way to buy and sell NFTs with a credit card in minutes. Additionally, by classifying NFTs as “digital goods,” NFT Checkout’s card approval rates are multiples higher than standard crypto on-ramps, leading to 3x more sales.
“We’ve already radically simplified cryptocurrency transactions — NFTs were the obvious next step,” said MoonPay CEO Ivan Soto-Wright. “NFTs are revolutionizing everything from art to intellectual property and how we send, receive, and store value. They hold the potential to transform the way we build, strengthen and maintain powerful human connections—not for a centralized few behind walled gardens, but for anyone and everyone on the planet who is ready to become a part of this powerful movement.”
Soto-Wright continued, “Right now, the NFT market is limited to the hundreds of millions of people who own cryptocurrency. MoonPay’s NFT Checkout has just opened the door to billions more who own credit cards by making ownership both simple and fast.”
Before NFT Checkout, anyone looking to purchase an NFT had to first buy a cryptocurrency and then exchange it for the NFT—for many, a confusing, cumbersome, and time-consuming process. MoonPay’s NFT Checkout solves this problem for brands, creators, and marketplaces by allowing their users to buy NFTs with fewer fees and an easier verification process using debit/credit cards, Apple Pay, Samsung Pay, Google Pay, SEPA, Faster Payments, Wire Transfers, Open Banking and ACH.
The new plug-and-play solution works on any blockchain—including Ethereum, Flow, Solana, and Polygon—and delivers NFTs directly to an on-chain wallet address. MoonPay also takes regulatory and chargeback responsibility away from business customers, allowing them to market faster and with peace of mind.
This announcement comes on the heels of MoonPay’s $555 million Series A financing round led by Tiger Global Management and Coatue with Blossom Capital, Thrive Capital, Paradigm, and NEA participation. The new funding, which values the bootstrapped and profitable company at $3.4 billion, has paved the way for it to accelerate its global footprint through new products, like MoonPay Concierge, and partnerships with leading organizations, like FaZe Clan. In addition, with NFT Checkout, the company aims to broaden appeal and access to digital assets for billions of people worldwide.
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November 29, 2022
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