By Richard Hines
On Tuesday, November 15th, Circle Internet Financial, issuers of the USDC stable coin announced its intent to integrate ApplePay into its system.
Apple Pay now supported by Circle
On the official blog page of the company, it was announced that business owners that are affiliated with Circle can now make use of their ApplePay to conclude their transactions.
ApplePay is the second-largest and most widely used digital wallet after the well-known PayPal. According to Apple CEO Tim Cook, the company had about 1.8 billion active users throughout the world. This is after evaluating the company’s 2022 first quarter (Q1) earnings.
The integration of ApplePay is no doubt a bid to create a convenient merger between Decentralised Finance (DeFi) and the traditional payment system.
As opposed to when users would have to go through quite strenuous processes and fill out numerous numbers of forms, the introduction of ApplePay into the payment system has greatly simplified the process.
Users can now conveniently go about their payment transactions in a faster and quite safer method using either apps or the Safari browser, which means that they can also complete their transactions using their touch ID or face ID.
This merger between Circle and ApplePay has been evaluated as a strong evolutionary tool in defining the relationship between traditional and nontraditional payment systems.
Crypto-native Businesses To Enjoy A Wider Range Of Payment Flexibility
The friction between crypto-native businesses and their traditional consumers is expected to reduce significantly as they can now accept payments from them using the traditional system. This helps in forging a better client-user relationship and connection.
In addition to that, they can also now purchase cryptocurrencies on any exchange of their choice in a very easy and seamless manner.
Traditional brands and businesses can also now enjoy a taste of the numerous benefits of USDC integration and take advantage of the opportunity to convert a sizeable portion of their retail transaction payments to digital currency.
In essence, both financial payment systems can now interact seamlessly, creating a win-win situation and an economy whereby everyone gets what they want.
Circle Internet Financial has announced that more evolutionary payment systems and plans will surface in the near future. The company has urged users and spectators to be on the lookout.
According to them, it is their mission to bring together both digital/crypto payment systems and traditional payment systems to coexist for the enjoyment of their users all over the globe.