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Walmart Chief Technology Officer Suresh Kumar expects a lot of confusion over cryptocurrencies in terms of different payment methods and different payment options.
Cryptocurrency adoption continues to accelerate across the payments industry, with major financial institutions adding various cryptocurrencies to their payment methods at merchants and other online platforms.
And Walmart’s global chief technology officer Suresh Kumar said digital currencies will become an important part of customer transactions.
Kumar’s comment came interviewing When Yahoo Financeof All Market Summit Broadcast on Mondays.
Walmart is one of the leading global companies embracing cryptocurrency, and Walmart’s CTO echoed the retail giant’s business and the role cryptocurrency plays around the world.
“Whether physical or virtual, they play a role in what customers want‘ said Kumar, highlighting the use of digital assets in both the metaverse and live streams (what’s happening with crypto support in payment and social media apps).
Kumar also spoke about Walmart’s plans for expanding adoption of cryptocurrencies. The future of customer transactions will be largely digital, according to retailers, and crypto already plays a big role in that.
“Cryptocurrencies will become an important part of how customers transact‘ explained Walmart’s CTO, adding that the company hopes to ensure such a deal.Frictionless Customers“as much as possible. In this way, users will be able to easily purchase digital assets andextract value from it
As such, the company is looking at ways to streamline product discovery amid global pressures that have put cryptocurrencies at the forefront of various payment options.
“I think there will start to be a lot of confusion regarding different payment methods and different payment options‘, Kumar told Yahoo Finance.
