When the mobile payments industry becomes mainstream, it will be interesting to see how bitcoin mobile wallets will fare.
The first major push to introduce bitcoin mobile wallet technology has been spearheaded by BitPay, the largest bitcoin payment processor, which recently launched a beta program for bitcoin mobile apps.
In its beta, BitPay has partnered with bitcoin wallet company Coinbase, allowing bitcoin mobile users to buy goods and services from Coinbase directly from their smartphones.
Coinbase said it has over 400,000 merchants accepting bitcoin, including major chains such as Starbucks, Walmart and McDonalds.
In addition, it has more than 100,000 mobile payments apps available on the Google Play Store and Apple App Store.
The platform is also available on Windows Phone.
BitPay’s beta offers a wide range of products, including cash, bitcoin debit cards, and bitcoin ATMs.
The company has also launched a bitcoin mobile phone wallet service, and is working on a bitcoin wallet that will allow bitcoin payments to be made using a smartphone app.
The move comes as bitcoin continues to gain traction in the US, and the technology could be useful for businesses to make payments for items such as healthcare, education and other items that consumers want to purchase.
“I think bitcoin has really exploded in the last few years,” Andrew Giannotti, CEO of Coinbase, told CoinDesk in an interview.
“We’re seeing a lot of the traditional payment gateways, but we’re seeing new entrants.
I think there’s a lot more value in bitcoin, but it’s really evolving.
I can see bitcoin becoming more mainstream in the coming years.”
Giannotti noted that bitcoin’s adoption in the UK, Australia and other markets is expected to reach $20bn by 2020.
“The first wave is happening in the United States, and there’s going to be a second wave in the next few years.