Cryptocurrency is taking another step towards the mainstream as mobile carrier AT&T announced it would accept payments in crypto today, according to a release from the company.
Customers can pay their mobile bills via BitPay when they pay online or in app. BitPay is one of the largest cryptocurrency payment processing firms, processing bitcoin transactions. AT&T hasn't gone all in on crypto yet, as for now the option to pay through BitPay is only extended to bill transactions.
Though the move may seem positive for crypto users, Joe McCann, a former crypto hedge fund manager at Passport Capital, said the move seemed to come out of left field and speculated that perhaps the company has internal data showing more millennials utilizing crypto payments.
"What upside does AT&T have in supporting crypto payments?" he asked.
McCann's questions of internal data may not be off base, as Kevin McDorman, vice president, AT&T Communications Finance Business Operations pointed to customers using cryptocurrency as a reason for the extended options.
“We’re always looking for ways to improve and expand our services,” said McDorman in a statement. “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.”
