In a major adoption move, United States and world largest telecommunication giant, AT&T will now accept Bitcoin for bill payments.
Announced Thursday, At&t will process bills paid in cryptocurrency (Bitcon and Bitcoin Cash) by customers using BitPay; hence becoming the first major U.S. mobile carrier to accept cryptocurrency.
Speaking on the development, Kevin McDorman vice president Communications Finance and Business Operations at AT & T says:
We’re always looking for ways to improve and expand our services. We have customers who use cryptocurrency, and we are happy to offer them a way to pay their bills with the method they prefer.
A clear positive in the cryptocurrency adoption scale, considering At&t’s over 150 million subscribers.
Booming Crypto Payments
The news follows an increasing acceptance of crypto payments for goods and services by merchants and major retailers (Whole foods, Nordstorm and Starbucks) last week. At&t’s latest adoption also indicates that more sectors are set to catch the Bitcoin and crypto vibe for quite obvious reasons.
Crypto payments save transaction time, cost and complexities in payment. However, a few challenges have been raised by merchants yet to accept this. Some fear the high volatility; others wait for clarity on tax implications.
In all, Bitcoin and cryptocurrencies in general have the potential to gain traction against the established credit card industry.
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