MoonPay Adds Credit Card Support for NFT Purchases

MoonPay Credit card

In a bid to simplify NFT purchases thus taking them truly mainstream, crypto unicorn MoonPay is adding support for credit card purchases.

Buyers of NFT have previously been restricted to using cryptocurrencies, which has limited the ability of taking the phenomenon to the less tech savvy group of people.

MoonPay, which has been a big driver in NFT adoption will now let users make NFT purchases using their credit cards, as well as other methods such as Apple Pay, Samsung Pay, Google Pay, SEPA, Faster Payments, wire transfers, open banking payments and ACH transfers.

This moves follows in the footsteps of Coinbase, which last week signed a partnership with Mastercard to allow fiat payments on its yet to be launched NFT platform.

MoonPay hopes that by simply adding a credit card option, NFT sales through their platform could triple.

“Right now, the NFT market is limited to the hundreds of millions of people who own cryptocurrency,” said MoonPay CEO Ivan Soto-Wright in a statement.

“MoonPay’s NFT Checkout has just opened the door to billions more who own credit cards by making ownership both simple and fast.”

This new payment option will support all blockchains, with MoonPay charging a processing fee of 3.5% or $3.99 — whichever is larger, to the buyer not the seller.

The option is already live.

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