Mesh has partnered with Apple Pay to allow merchants to accept cryptocurrency payments directly through the Apple Pay app. Set for Q2 release, it uses Mesh’s SmartFunding tech, enabling payments in popular cryptocurrencies while settling in stablecoins. This aims to simplify the transaction process for users and extends to physical retail environments as well.
A new partnership between crypto payments company Mesh and Apple Pay promises to pave the way for merchants accepting crypto payments straight through the Apple payment platform. The rollout is expected later this year, specifically in the second quarter, which seems just around the corner, so merchants should prepare. For those merchants who don’t have their own crypto systems in place, this could be a game-changer.
At the core of this integration lies Mesh’s SmartFunding technology. It enables customers to use popular cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) for transactions. Once those transactions occur, merchants can choose to settle in stablecoins like USDC, USDT, or PYUSD. This flexibility might just encourage more businesses to embrace cryptocurrency.
The technology is designed to make the entire payment process smoother. Customers merely select Apple Pay at checkout, use Face ID for authentication, and can pay entirely in fiat currency while benefiting from the underlying crypto. It’s a tidy approach that could reduce friction in the transaction process significantly. Oh, and it’s not just limited to online transactions; this could also extend into physical retail places too.
Bam Azizi, the CEO and co-founder of Mesh, made some interesting points. He emphasised that once crypto payments start to mirror the convenience of traditional fiat methods, the potential for global commerce to shift to blockchain technology is huge. Crypto already brings several advantages to the table, and Mesh appears to be taking significant steps to address user experience and overall convenience.
Azizi noted, “With our Apple Pay integration, we’re solving crypto’s existential last-mile problem, creating a plug-and-play solution that enables global crypto payments through our existing partners.” It’s a bold claim and, certainly, one that many will be watching closely.
This exciting announcement comes after Mesh successfully raised $82 million in a Series B funding round led by Paradigm, alongside backing from notable investors including Consensys, QuantumLight Capital, and Yolo Investments. Such financial support underlines the confidence investors have in Mesh’s vision and execution.
To round things off, it’s noteworthy that Mesh has secured over 300 integrations within the crypto landscape. This includes partnerships with major exchanges and digital wallets like Coinbase, Binance, MetaMask, and Phantom. All in all, the integration with Apple Pay seems poised to potentially widen the scope for crypto payments in retail environments.
