Wirex, a digital payments platform signs global partnership with Visa, a leading payments network. This partnership includes Wirex’s membership with Visa in the UK and APAC regions, allowing them to directly issue their own crypto-enabled debit cards to customers in over 40 countries.
The agreement will also support further collaboration between the two companies in key markets, including Europe, the UK, APAC, and the US, and help Wirex offer new and innovative products that utilize crypto in everyday life, enhance the user experience, and test new blockchain initiatives.
Wirex’s 5 million customers will benefit from this partnership. Wirex was the first company to launch a crypto-enabled card in 2015. The card allows users to buy, hold, exchange, and spend multiple traditional and cryptocurrencies at over 80 million locations worldwide that accept Visa.
Svyatoslav Garal, the Regional Managing Director of Wirex APAC, expressed his excitement about strengthening the partnership with Visa.
“It’s great to strengthen our partnership with Visa, who have played an important role in allowing us to bridge the gap between the traditional and digital economies. Visa’s proven commitment to safety, security and innovation will help us to continue developing a next-generation app and card,” says Garal.
Matt Wood, the Head of Digital Partnerships, Asia Pacific, Visa, commented that they are eager to bring more payment options to consumers by connecting digital currencies with the Visa network of banks and merchants.
Wirex will continue to work closely with Visa to expand services and roll out their card program globally, empowering everyone to access the benefits of crypto.
Digital payment providers as crypto payment gateways
From Wirex, to Paypal, to Checkout.com to Revolut and others, digital payment providers see the gap for new payment gateways and methods using crypto.
With ecommerce giants like Shopify launching crypto tools for merchants it is no surprise that a major online payment providers are following the trend.
As more Web3 focused stores demand crypto enabled design features, more platforms will develop solutions for this cohort of merchants and buyers. Payment providers are applying for country specific licenses and forming strategic partnerships to develop new digital payment business models.
