Millions of Apple Pay and Google Pay users can now purchase crypto through Wyre. The company’s new products are designed to make purchases of Bitcoin (BTC), Ethereum (ETH) and Dai (DAI) extremely simple and fast.
Users will be able to integrate three different Wyre V2 products. The first two are available today, and the third option will be available by the end of October, according to the announcement.
- A full-featured, Wyre-branded Apple Pay/Google Pay checkout that you can integrate into your web app
- A white-label-able Apple Pay/Google Pay button that you embed into your web app
- A guide/process to white-label an Apple Pay/Google Pay button into your mobile app using Wyre as a service provider. (Available by the end of October)
The company says new accounts can launch after two clicks by pulling a user’s KYC/AML information from Apple Pay or Google Pay.
Only after a user surpasses certain thresholds – $250 for one-time withdrawals/$1,500 for lifetime – will they be required to submit more documentation.
“A significant pain-point that we received feedback on was our KYC process. Users shouldn’t have to manually enter their information, and they certainly shouldn’t be required to upload documents until it’s needed for higher limits. We’ve simplified this process by using the information already provided by Apple Pay and Google Pay.”
Apple Pay users can log in using their iPhones, with desktop browser login for Google Pay users. In two taps and 60 seconds, users can specify the amount of crypto they want, add an address and confirm the purchase.
Earlier this year, mobile wallet BRD partnered with Wyre to offer US customers at 1,700 banks a way to purchase Bitcoin, Ehtereum and Dai using bank transfers. Wyre, which is focused on increasing fiat on-ramps to bridge the world of traditional money with cryptocurrency, is working on consumer-friendly products that are easy enough for grandma to navigate.
Says Spencer Chen, vice president of global marketing at BRD,
“Wyre has a vision of being Stripe for crypto.”
According to data compiled by Statista, Apple Pay has over 383 million users worldwide and is one of the most prominent mobile payment providers with a global iPhone user base reach of 43% as of December 2018.