Simplex has now added Apple Pay as a supported payment method, allowing its users to use the popular digital payment app to buy COTI more simply.
With 45% of Americans owning an iPhone and Apple dominating 11% of the world mobile market, Apple pay has become one of the most used apps for paying for goods and services straight from a user’s phone.
This integration will not only facilitate the purchasing of COTI and other cryptocurrencies in the SImplex platform but also improve security by not requiring users to provide their credit card information over the internet.
COTI also announced that it has continued its partnership with Simplex to launch the COTI debit cards and bank accounts in the future, with the design development being scheduled to start in the near future.
Facilitating Payment Trough Crypto
Coti announced back in December of 2020 that it would be launching its COTI Pay debit card and bank accounts in January of 2021.
However, the issuance of the products was delayed and no specific date has been set while the company continues to work in partnership with Simplex.
The team behind the project expects that the issuance of the physical and virtual debit card will significantly increase the adoption of the network by facilitating crypto payments both for users and merchants alike.
COTI debit cards will be available globally but originally launched in Europe, followed by the United States, Asia, Oceania, and other regions.
The bank account, on the other hand, will be immediately available globally and work as a gateway between fiat and cryptocurrencies not only by allowing users to store them in the COTI Pay app but also by facilitating the conversion between both types of currency.
COTI aims to provide features such as no maximum purchase limits, 1-click transactions with various partners, 1-time know your customer (KYC) process, and a variety of payment and transfer options.
COTI and Simplex: A Long Time Partnership
COTI and Simplex originally announced their…