It had actually already made Google Pay available as a payment option in May, but only to Australian and New Zealand users.
🇦🇺🇳🇿 AU & NZ https://t.co/vCNztATkNg Visa Card users
📲 You can now make payments using Google Pay™️
They are now preparing to enable Google Pay payments to users in other countries as well.
Google Pay allows people to link credit or debit cards to their account so they can use them to make online payments by allowing them to choose which one to use. Once selected as a payment option on the Crypto.com app at the time of a purchase it will then be possible to choose which card to pay with.
In other words, these will be for all intents and purposes purchases paid with a credit or debit card, but through Google Pay, which acts as a wallet of cards from which to choose which one to use to pay.
Recently, however, questions have been raised about whether it is appropriate to offer retail investors the ability to purchase cryptocurrencies by paying with a credit card.
In particular, Taiwan’s Financial Supervisory Commission (FSC), the country’s financial regulator, sent a letter to the Association of Banks in early July reminding them that they should not use virtual assets. The letter also stated that credit cards are essentially payment instruments for consumers, and not tools for making high-risk speculative investments.
In Taiwan, for example, credit cards can already be used as payment instruments for online gambling, stocks, futures, options and other transactions. Now cryptocurrency purchases are also joining the party.