MoonPay Adds Credit Card Support to Make NFT Purchases Easier

MoonPay, the crypto unicorn driving NFT mania to a new high, is adding support for credit card payments to simplify purchasing non-fungible tokens (NFTs). The move follows a recent announcement from Coinbase that its upcoming NFT platform will soon add support for credit cards. Clients of MoonPay which includes a slew of celebrities from Snoop Dogg to Paris Hilton can now use the new checkout tool for buying NFTs using debit and credit cards including additional payment services via Apple Pay, Samsung Pay, Google Pay, SEPA, Faster Payments, wire transfers, open banking payments and ACH transfers. The new checkout tool supports NFT purchases across any blockchain, networks including Ethereum, Flow, Solana and Polygon. When purchasing an NFT, the gas fees will be added into the total cost of NFTs except for items linked to blockchain platforms like Polygon, for which MoonPay pays the gas fees itself. After purchasing the NFT through credit card, the token will be sent directly to a customer’s crypto wallet. For this, MoonPay charges a processing fee of 3.5% or $3.99, whichever is larger. Commenting on the development, MoonPay CEO Ivan Soto-Wright said: “Right now, the NFT market is limited to the hundreds of millions of people who own cryptocurrency. MoonPay’s NFT Checkout has just opened the door to billions more who own credit cards by making ownership both simple and fast.” “NFTs represent the future, not just of our company,...