The influence that cryptocurrencies are having over online and in stores sales cannot be understated; while there are still some caveats about using these kinds of crypto assets for payments, there is a push for people and merchants to jump into the crypto bandwagon. That is why some big hitters like Microsoft and Starbucks are teaming up to build their own payment processing company to get more control over transactions and how to handle them, in order to accept cryptocurrency payments in the near future, according to CNN.
These heavy players of the industry have come together to build a new payment platform that will be known as Bakkt, a payment gate that will store your cryptocurrency and let you pay for several products and services. At its beginning, it will only support bitcoin, the most known cryptocurrency, but it will surely evolve to support other alternative currencies later on.
The method of payment will involve the automatic exchange of cryptocurrencies inside of the platform to US dollars and the transaction of these dollars to the merchant’s accounts, but to the user, the process will be transparent. This new push from these monster retailers as Starbucks could give bitcoin and other cryptocurrencies the impulse to reach new support ins the sale space market.
The platform is supposed to start functioning during the last part of the current year, and while it is unknown if it will succeed, with the big names that it has onboard, it really has a promising future ahead. Starbucks is one of the most important coffee retailers in the business, operating more than 28,218 stores all around the world and serving thousands of clients each day; even if just only a small part of them adopts the platform, it will do wonders to bring cryptocurrency to the mainstream.
So, be prepared. Maybe you will need to reach out for your crypto the next time you buy a latte at a Starbucks.