US Telecoms Giant AT&T Now Accepting Crypto Payments via BitPay

Max Boddy | May 24, 2019

US Telecoms Giant AT&T Now Accepting Crypto Payments via BitPay
United States telecom and media giant AT&T now accepting cryptocurrency for paying phone bills online, according to an official press release on May 23. AT&T will process bills paid in cryptocurrency using crypto payments platform BitPay. BitPay is a platform that converts cryptocurrencies to fiat and is used by over 20,000 businesses. AT&T is reportedly the first United States-based business in the wireless network industry to offer bill payments with BitPay. Kevin McDorman, vice president of AT&T Communications Finance Business Operations, said, “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.” Near the end of 2018, AT&T announced that it was working on a suite of blockchain solutions compatible with Microsoft Azure and the IBM Blockchain Platform. The stated aim of the suite is to provide “additional transparency and accountability to even the most complex supply chains” for institutional customers in fields such as manufacturing, retail, and healthcare.

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Risk management has always been a complex function for banks. Operational risk has come to the forefront since 2001 when Basel II recognized it as a distinct class of risk outside credit and market risk...

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