- Introduction of Apple Pay by Lumi Wallets to its operation increases the number of in-wallet transactions
- The new feature also drastically reduces the wait time for carrying out a transaction.
A week after Lumi Wallet introduced Apple Pay as an option payment for Bitcoin, there was a surge of up to 200% in the numbers of in-wallet transactions.
Apple Pay’s introduction to the Wallet has simplified the crypto-purchase procedure. The time involved in a transaction has dropped drastically. In previous times, the KYC verification process that was needed for buying crypto assets takes an average of 10-15 minutes.
But with Apple Pay, there is no need for this verification process, and as such, the transaction period takes less than 15 seconds.
Diana Furman, the CEO of Lumi Wallet, said that her firm had confidence in Apple Pay’s ability to play an essential role in the Wallet, and the general adoption of Bitcoin.
She further added that her firm’s team were working as much as possible on simplifying the crypto industry as much as possible.
Available statistics show that users in the United States had the most purchase on the Lumi platform. Users in the United States accounted for 33% of all purchases.
Apple Pay’s removal of KYC spurs users increase
Though North America made the highest number of purchases, Latin America, however, recorded the highest number of newcomers. In November alone, there was a 29% increase from that side alone.
What this sharp increase in Latin America shows is that Apple Pay’s ability to bypass KYC has gone a long way in removing the barriers that may be associated with Crypto. It also further aids the level of financial inclusivity.
In a recent survey titled “Mood of the Nation” carried out by crypto-investors from India, majority of the respondents had demanded a more comfortable and more straightforward method of joining Crypto.