United Wholesale Mortgage (UWMC) is working on allowing customers to make their monthly mortgage payments using crypto, poised to join entities as varied as Square, AMC and the Dallas Mavericks.
UWM CEO Mat Ishbia told Yahoo Finance Live it’s a matter of staying innovative, and following customer trends.
“We’re doing a lot of things on the tech side that people don’t understand because they think mortgage is old and sleepy,” he said. “Everyone likes to do things the way they’ve always done it. We think about what’s the best way. “Almost a million consumers pay UWM every single month. We have a lot of consumers that have a lot of crypto. They’d like to be able to transfer it in — how do we do that?”
Ishbia floated the idea on the company’s recent earnings conference call, telling analysts that UWM is aiming to introduce the ability for customers to pay with crypto in the third quarter.
Crypto. The buzzword you hear everywhere from the news to friends hyping it up. Has the craze gone mainstream and reached businesses?
Big names like Microsoft, AMC, Starbucks, and AT&T are in, but what do small businesses think? The Strawhecker Group (TSG) used new survey data from nearly 600 small businesses in the U.S. to illustrate their knowledge, attitudes, and acceptance of cryptocurrency.
Download the infographic
Payments professionals across the ecosystem will find this infographic to be a great resource as the market continues to evolve. Are you working with merchants on a crypto strategy?