By
Temitope Olatunji
March 27th, 2024
According to Visa Pacific’s Head of Digital Partnerships Matt Wood, the financial services provider wants to offer more payment options to its consumers.
Crypto payments platform Wirex has entered into a global partnership with financial services corporation Visa (NYSE: V). Wirex announced the strategic agreement with Visa on the 13th of February, noting that it is becoming a member of Visa in Asia-Pacific (APAC) and the UK. Hence, the crypto payments platform will have direct access to provide crypto-enabled prepaid and debit cards to more than 40 countries.
With its most extensive customer base in the UK, Wirex has reached a new feat with its partnership with Visa. The company’s over 5 million customers are spread across different countries and are increasingly growing in APAC. Wirex can expand its services to more territories as it partners with Visa. Also, the deal will trigger more alliances across major markets such as the US, UK, APAC, and Europe. As Wirex becomes a member of Visa, it will enable the company to launch new products and roll out more blockchain initiatives.
Wirex and Visa Partnership
Visa and Wirex have built a solid and sustaining relationship over the years. Wirex became the first company in the world to create a crypto-enabled card in 2015. The cardholders are allowed to buy and sell crypto as well as exchange and hold multiple crypto assets. Also, the card enables holders to spend their cryptos anywhere Visa is accepted, which is more than 80 million locations. Speaking on the continued relationship with Visa, Wirex APAC Regional Managing Director Svyatoslav Garal stated:
“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.”
Another exciting benefit Wirex card holders enjoy is the real-time POS conversion free of interbank and OTC exchange rates. Also, customers benefit from free international ATM withdrawals and zero monthly charges. The company also allows cardholders to perform free fiat-to-fiat exchanges and offers up to 8% Cryptoback reward on all purchases.
According to Visa Pacific’s Head of Digital Partnerships Matt Wood, the financial services provider wants to offer more payment options to its consumers. Hence, it partnered with Wirex to connect crypto with its network of merchants and banks. Wood added:
“We are happy that Wirex is expanding their focus on Asia Pacific, making it easy and seamless for people to spend their crypto balance at the millions of merchants that accept Visa in the region.”
At press time, Visa stock is up 0.07% to $229.05. The company’s stock has gained more than 10.17% since the year began and grew 10.64% in the last three months. Over the past month, Visa has added 2.61%.