Visa to launch cryptocurrency-enabled cards in Latin America

Owners will be able to pay with digital assets at payment system supported outlets, as well as receive cashback in BTC through its fintech partners

21.06.2022 - 14:30

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What’s new? Visa Payment System announced the launch of a series of cryptocurrency-enabled cards in Latin America. These cards will allow users to pay with digital assets and buy them at Visa-backed cryptocurrency outlets. Cardholders will also receive cashback in bitcoins for their purchases. The company has partnered with several fintech startups, including Lemon Cash and Satoshi Tango in Argentina, and Crypto.com, Alterbank and Zro Bank in Brazil.

The Visa Statement

What do Visa representatives say? Romina Seltzer, senior vice president of products and innovation of Visa Latin America and the Caribbean, said the cryptocurrency ecosystem in the region is gaining momentum, including the growth of investments in the industry and the expanding use of digital assets.

Lemon Cash representatives said that customers will receive a 2% cashback on purchases made with the new cards. Crypto.com, for its part, reports cashback of up to 5% of card spending.

Visa is an American multinational company that provides services for payment transactions. The system cards are accepted in more than 200 countries around the world, and the company's capitalization on January 30, 2022 was $479 billion.

In late March, Visa announced the launch of a program aimed at improving business performance through NFT. The educational program is designed for talented artists, fashion designers, and filmmakers who want to monetize their skills.

In April, Mastercard Payment System announced the launch of credit cards backed by cryptocurrency. The project was implemented in cooperation with cryptocurrency lender Nexo and financial app DiPocket.

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