It has been reported that the exchange service revealed that starting in June, some whitelisted customers will be selected to begin enjoying the crypto rebate feature. Coinbase revealed that customers who use their Coinbase Card via Apple Pay and Google Pay can earn up to 4% in crypto rewards for online shopping.
The report stated:
“Splurging for guacamole with your Coinbase Card is a no-brainer when you can earn 1% back in Bitcoin or 4% back in Stellar Lumens.”
However, earlier, Coinbase became a direct Visa card issuer back in February 2020. By March 2020, Coinbase Card users in Europe could already utilize their cards via Google Play. The Coinbase announcement comes amid significant growth in mobile phone payments in the United States. While mobile phone payment penetration in the US still lags behind China, the sector experienced 29% growth in 2020.
Great news! Coinbase users will now be able to use crypto to pay on Apple Pay and Google Pay while earning up to 4% in rebates when they shop online. https://t.co/tc4LSlJ5wV — Cointelegraph (@Cointelegraph) June 2, 2021
Apart from receiving up to 4% in crypto rebates, the exchange said it has other plans to expand its Coinbase Card reward program. Since June 2019, Coinbase Card has added more countries to its coverage while increasing its supported digital currencies to even include stablecoins like Dai. Crypto debit cards have continued to be a significant part of efforts to promote retail cryptocurrency utilization for microtransactions.
Meanwhile, payment giants like PayPal have also entered the retail crypto payment arena, with US customers able to pay for online shopping with Bitcoin (BTC).
Thus, according to a Mastercard survey from May, 40% of respondents across the globe expressed interest in adopting crypto payments in 2022.