US media and telecom titan AT&T recently announced that customers can now pay their phone bills using cryptocurrency through BitPay. The news was revealed in a press statement released on May 23.
First in the US
The move makes AT&T the first US-based company in the wireless telecom industry to offer clients a payment option based on cryptocurrency.
BitPay is one of the most respected crypto payment processors operating today. The cryptocurrency platform works by converting crypto to fiat. It’s currently utilized by more than 20,000 companies.
Kevin McDorman on their plan to always enhance and expand services
Kevin McDorman, AT&T’s vice president of Communications Finance Business Operations, stated that they’re always looking to enhance and expand their services. He added that they have clients who use crypto and they’re happy that they can provide them with a preferred payment method that’s both convenient and secure.
AT&T subscribers can choose BitPay as a payment method when they log on to their online account or via the myAT&T app.
The telecom giant announced in 2018 that it was working on a series of blockchain-powered solutions that are compatible with the IBM Blockchain Platform and Microsoft Azure. The company explained that the project’s goal was to provide accountability and increased transparency that can be used by the complicated supply chains used in healthcare, manufacturing, and retail.
Pending Patent Application
AT&T also has a patent application for a blockchain-backed “social media history map” platform that would permit the telecom company and similar networks to “take advantage of the immutable and permanent nature of blockchain” to save and give access to data that represents the subscriber’s online actions and transactions.