Visa and Near Pay Partnership for a Bitcoin Card
According to the popular cryptocurrency news aggregator Bitcoin Archive, Visa and Near Paya Riyadh-based Saudi Arabian company specializing in digital payments has reportedly launched a new Virtual Bitcoin card for citizens residing in Europe.
Via and Near Pay are now in partnership
💥BREAKING: Visa has launched a virtual #Bitcoin card across Europe in collaboration with NearPay.
— Bitcoin Archive 🗄🚀🌔 (@BTC_Archive) 27 August 2022
NearPay a few months ago launched its first virtual cryptocurrency card and mobile wallet for both iOS and Android.
NearPay Wallet: it is the name of the wallet which is already available on all digital platforms.
“With NearPay, customers can buy crypto using a credit card or bank transfer, send, receive and exchange it, or withdraw directly to their bank account. In addition, they can instantly issue a virtual Visa debit card that allows them to use crypto for online purchases with automatic conversion to fiat. The service is available to residents of the European Economic Area (EEA) and the United Kingdom.”
reads a blog post on the company’s website.
The wallet currently supports as many as 38 cryptocurrencies including NEAR, BTC, ETH, and USDT.
Along with cryptocurrency payments and conversions, customers can make traditional bank transfers EUR and GBP.
“At NearPay, we’ve taken the best features of modern digital banking and brought them to the crypto world to create a simple interface that makes it easier than ever to manage all your finances, both fiat and crypto.”
said at the presentation of the new product Ivan Ilin, COO of NearPay.
“With our newly launched iOS and Android apps, our customers can access NearPay Wallet on the go and instantly get virtual crypto cards to use their assets without converting them beforehand.”
Visa, for its part, has long explored and used cryptocurrencies to implement in its electronic payment circuit.
In November 2021, it was launched with a cryptocurrency lending specialist BlockFithe first cryptocurrency credit card with a cashback program.
The same was done in July for Dubai and UAEwhere in Bitcoin Black The card was launched without a worldwide spending limit and a cashback on 10% in SPND tokens.
According to a recent survey by Insider Intelligence, payments made with cryptocurrencies will exceed $10 billion in total transaction value globally by 2022, while 60% of cryptocurrency owners would be interested in using cryptocurrencies as a payment method for their online purchases.
Visa itself fully confirmed these numbers when it revealed at its quarterly presentation that customers paid $2.5 billion with its cryptocurrency cards in the first fiscal quarter of 2022.
“For us, this signals that consumers see the benefit of having a Visa card linked to an account on a crypto platform. There is value in being able to access that liquidity, fund purchases and manage expenses, and to do so immediately and seamlessly.”
Vasant Prabhu, CFO at Visa, told CNBC.
