Cryptocurrencies have taken another step into the mainstream.
According to media reports, AT&T announced on May 23 local time that it will accept encrypted payment. Specifically, the company will allow its customers to pay their mobile bills through BitPay online or through the app.
BitPay is known to be one of the most well-known cryptographic payment companies, which will handle cryptocurrencies for AT&T and pay the latter in regular cash.
Joe McCann, a former virtual currency hedge fund manager at Passport Capital, told media Block that while the move appeared to be a good thing for cryptocurrencies users, the move appeared to be a bit out of the ordinary. McCann speculated that the company might have internal data showing more millennials using encrypted currencies to pay for them.
Sonny Singh, BitPay’s chief business Officer, expressed appreciation for his cooperation with AT&T. “AT&T is doing a great job in that regard.
” Mr Singh said companies similar to AT&T size, brand and coverage might start to follow suit.
In addition, according to Singh, encrypted payments can save customers 2 to 3 cents per transaction.