MoonPay integrated Discover Network into its cryptocurrency payment platform, enabling eligible Discover cardholders in the United States to buy and sell digital assets through more than 500 supported wallets, exchanges, and Web3 applications. The integration makes Discover the third major U.S. card network available on MoonPay's platform, alongside Visa and Mastercard. The partnership aims to reduce barriers in cryptocurrency purchases by allowing consumers to use familiar payment methods, as the crypto payments market becomes increasingly competitive with companies focusing on simplifying the purchasing process through widely adopted payment options.
MoonPay's platform supports multiple payment methods beyond the three major card networks, including Apple Pay, Google Pay, PayPal, Venmo, bank transfers, and several regional payment systems. Richard Harrison, Vice President of Banking and Payments Partnerships at MoonPay, said the company believes every additional payment method reduces barriers that prevent consumers from completing cryptocurrency purchases. Harrison explained that MoonPay was designed around the principle that digital assets should be accessible through the same payment methods consumers use for traditional online shopping, and that the Discover Network integration represented another step toward making cryptocurrency payments more familiar and convenient after introducing support for PayPal and Venmo.
MoonPay Expands Payment Options to Reduce Transaction Friction
Claudia Schaefer, Vice President of Strategic Client Management for Discover Global Payment Network, said the company aims to give consumers greater flexibility in how they make payments while enabling businesses such as MoonPay to provide secure and seamless transaction experiences. The cryptocurrency payments market has become increasingly competitive as infrastructure providers seek to simplify the purchasing process, with many companies focusing on integrating widely used payment methods instead of requiring consumers to adopt new payment habits.
MoonPay has followed that approach by steadily expanding its payment options. The company expects that each additional payment method will reduce friction during checkout and encourage more consumers to complete digital asset purchases. The addition of Discover Network further supports MoonPay's objective of making cryptocurrency transactions resemble conventional online purchases, reducing complexity for both new and existing users.
MoonPay Operates Across 180 Countries with Multiple Regulatory Licenses
MoonPay said it currently serves more than 30 million customers across 180 countries. Through a single integration, the company provides cryptocurrency on-ramp and off-ramp services, trading capabilities, crypto payment infrastructure, and stablecoin solutions for more than 500 enterprise partners.
The company has expanded its regulatory footprint across key markets. Its licenses and authorizations include a New York BitLicense, a New York Limited Purpose Trust Charter, money transmitter licenses across the United States, and approval under the European Union's Markets in Crypto-Assets (MiCA) regulatory framework.
FAQ
What payment methods does MoonPay support after the Discover Network integration?
MoonPay supports Discover Network, Visa, Mastercard, Apple Pay, Google Pay, PayPal, Venmo, bank transfers, and several regional payment systems. The Discover Network integration makes it the third major U.S. card network available on the platform.
How many customers and enterprise partners does MoonPay serve?
MoonPay serves more than 30 million customers across 180 countries and provides cryptocurrency services for more than 500 enterprise partners through a single integration. The platform offers on-ramp and off-ramp services, trading capabilities, crypto payment infrastructure, and stablecoin solutions.
