Mastercard’s Growing Interest In Crypto, Allows Wirex To Offer Payment Cards

Jyoti  |  Jul 20, 2020

Wirex became the first cryptocurrency platform to get the principal member of Mastercard. One of the world’s largest payment processor has permitted the crypto platform to issue the payment cards to the customers directly.

As per the public statement released by Wirex, the customers using the payment cards would be rewarded by the Mastercard via a Cryptoback loyalty program of Wirex.

Wirex To Reward Consumers With Bitcoin

According to the notification, for every in-store purchase from Wirex, the consumers would be rewarded and they will get up to 1.5 percent in Bitcoin.

It has been mentioned that by the end of the year 2020, the European customers would be able to get access to the card, which will allow them to make free ATM withdrawals internationally.

The announcement made by the company further has stated that after 2020, Wirex along with Mastercard launch another corporate card.

While discussing the latest merger with Mastercard, the CEO and co-founder of Wirex, Pavel Matveev, said, “The development represents a growing interest and recognition in the acceptance of cryptocurrency by leading bodies and regulators and will help us to realize our vision of empowering everyone to experience a world where all currencies, traditional and crypto, are equal”.

Wirex further indicated that after Europe it would be expanding its business to the Asia Pacific region.

Mastercard’s Accelerate Program

The executive vice president of Digital Asset and Blockchain Products and Partnerships for Mastercard, Raj Dhamodharan also asserted that Mastercard’s collaboration with Wirex and the other crypto platforms is stimulating innovation and giving consumers more choices for processing the payment.

The Accelerate program, which has been started by Mastercard, offers a simple, single entry point to the specialized program of the company. It also backs the crypto partners and fintech in their growth.

The crypto platforms that would be joining the Mastercard’s program would be given every information regarding the Accelerate program.

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