You can now pay your phone bill with Bitcoin. And that is thanks to AT&T, which became the first mobile network to accept digital coins as method of payment. All payments will be facilitated through BitPay, a cryptocurrency payment processor.
Just recently, major companies have decided to accept cryptos as payments. Such companies include Home Depot, Nike, Facebook and more. The one interesting thing is that AT&T will not have crypto on its wallets, but rather fiat money. The cryptocurrency payment processor converts the cryptocurrency into fiat before the transaction is closed.
A representative from the company said that the move is a strategic one, since AT&T looks to broaden its customer base and attract more diverse group of clients.
This is what the Vice President of AT&T Communications Finance Business Operations said:
We’re always looking for ways to improve and expand our services. We have customers who use cryptocurrency, and we are happy we can offer them a way to pay their bills with the method they prefer.
Just this month, Bitcoin “entered” giant companies such as Whole Foods and Nordstrom through Flexa – a payment system that will allow customers to pay with cryptocurrencies.
According to some press releases, the move by AT&T may be owing to the fact that the company seeks to attract more millennials, and hence the new implementation.