This new integration is designed to let retail customers using Unlimit “seamlessly” transfer their fiat funds to eligible Apple Pay cards, according to a Tuesday (Oct. 28) news release.
“With digital asset adoption accelerating across Europe, the need for reliable and user-friendly off-ramp solutions is becoming increasingly critical, and users now expect to be able to seamlessly convert their holdings back into traditional currency as soon as they need to,” Unlimit Chief Commercial Officer Wolf Ruzicka said in the release.
“By offering Apple Pay for disbursements, we’re delivering even more seamless, innovative services to consumers.”
According to the release, the integration gives Apple users an easier and more secure way to access their funds after converting their cryptocurrency holdings back into traditional currency.
“By working alongside major pilot partners, including leading crypto wallet providers, Unlimit is opening the door to crypto for the average consumer,” the company added.
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The release notes that Unlimit’s crypto solution lets users tap more than 1,000 payment methods to access crypto tokens, wallets, and DeFi apps.
The company says its platform combines a fiat on- and off-ramp solution with the “world’s largest in-house payments infrastructure,” to empower payment processing, multi-currency accounts, and banking-as-a-service solutions.
In related news, Jennifer Bailey, vice president of Apple Pay and Apple Wallet, said recently that both tools are gaining users and adding capabilities.
Speaking during a Sunday (Oct. 26) keynote at Money 20/20 USA, Bailey said Apple and its partner ecosystem are letting users replace their physical wallet with a digital wallet.
Apple Pay is now live in 89 markets around the world and supported by more than 11,000 banks and networks, the executive said in remarks provided to PYMNTS by Apple. In the U.S, the service is available at 90% of retailers.
For issuers and merchants around the world, Apple Pay has fueled incremental sales while reducing fraud levels, Bailey added.
“Over the past year, Apple Pay has eliminated over $1 billion in fraud, shown it can reduce fraud levels by over 60% compared to traditional credit and debit card transactions, and generated over $100 billion in incremental merchant sales by delivering higher authorization rates and greater cardholder engagement, according to data from Apple, Apple Pay partners and industry sources,” PYMNTS added.
