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
223
2 min
0
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.
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.
Useful material?
Market
Tether Finance division will be responsible for the issuance and redemption of USDT stablecoins
Apr 18, 2024
Trends
The first project introduced on the platform will be BounceBit (BB)
Apr 18, 2024
Business
The rate exchange of the native ACH token reacted with a 10% increase
Apr 18, 2024
Market
Miners are hunting for the first block after halving as the value of the first satoshi could exceed $1 million
Apr 18, 2024
Market
The platform will be non-custodial and accessible to everyone
Apr 15, 2024
Market
China Asset Management, Harvest Global Investments, and Bosera Asset Management have received permits
Apr 15, 2024