Credit, Debit Checkout Tool For NFTs Launched By Crypto Fintech Firm MoonPay
The cryptocurrency infrastructure payments company, MoonPay, has launched a checkout feature that provides users with a variety of cash payment alternatives that its NFT clients may utilize to purchase digital art and collectibles.
Debit and credit cards, Apple Pay, Samsung Pay, Google Pay, SEPA, Faster Payments, wire transfers, open banking payments, and ACH transfers are all accepted at NFT Checkout. Customers who want to buy NFTs usually have to load cryptocurrency into a blockchain wallet.
“While there have been efforts to simplify the NFT buying process, they haven’t gone far enough. It’s our belief that buying an NFT shouldn’t just be simple, it should be as simple as possible,” Lead Writer Geoffrey Lyons said in a MoonPay blog post recently.
The new product from MoonPay has already gone live and the firm has claimed that it will treble sales for NFT sellers with the launch of this new feature while also making the checkout process smoother and faster for its users.
Big brands and non-traditional markets are among MoonPay’s clients.
NFT buy and sell no longer necessitates the purchase of cryptocurrencies if people use MoonPay’s plug-and-play solution, the company said. Card payments can be accepted by anyone with an NFT collection. The new checkout tool works with any blockchain, including Ethereum, Flow, Solana, Tezos, and Polygon, to enable NFT purchases.
“Currently the number of people with direct access to crypto (i.e., those with wallets) is only a tiny portion of the internet population,” Lyons said.
“By expanding the reach of NFTs to anyone able to pay with a card, we’re not only drastically scaling NFT adoption: we’re opening up new revenue streams for businesses, new royalty sources for artists, and altogether bringing the benefits that NFTs offer to a much wider brand ecosystem,” Lyons added.
The checkout tool also helps to significantly simplify the KYC procedure of users by allowing customers to skip the lengthy ID verification process for purchases of up to $7,500 in NFTs. Settlements are paid on a daily basis automatically.