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WireX And the First Mastercard-Enabled Crypto Card

Mastercard

August 4, 2020 | 

JOHN K MWANIKI |  0 Comments| 

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WireX has recently announced its partnership with Mastercard to offer crypto cards. The leading payment platform is revamping its already top-notch services. The partnership with Mastercard solidifies its vision of increasing the crypto mainstream uptake. It allows it a principal membership with the credit card giant. 

The partnership allows WireX to issue payment cards to the consumers. This comes with more convenience and faster transactions. It also offers the customers the ability to buy, sell, or hold the crypto and fiat currencies. The platform provides these services within a single site at the best market rates. 

WireX is one of the most secure payment processors. It comes with Financial Conduct Authority regulations. Its high-quality services have seen it garner a huge market share within a short period. It has a reach of over 3 million users in more than 130 countries. The introduction of Mastercard looks to give it more market mileage. 

The move comes in the wake of Mastercard improving its Accelerate program. The company is looking to make it easy to partner with other crypto entities. It is making the partner onboarding faster. As soon as a few weeks. 

The partnership also increases access to Mastercard services to a broader population. Mastercard is active in more than 54 million locations worldwide. The ability to spend in these stores makes WireX an ideal option. 

The deal is all about improving flexibility and access to money. Mastercard has different business parts. It can accommodate several partners without conflict of interest challenges. It also comes with extra technical and growth support. WireX is the first crypto-native platform to enjoy the program.

Adopting the Mastercard is a show of WireX consumer-oriented service provision. Its main debit card had been VISA, Mastercard's competitor credit card. Yet, things have not been the same after the Wirecard's $2.1 billion scandals. Most traders had stopped trusting Wirecard. The Mastercard offering is the best alternative at continued secure service provision. 

Mastercard electing to work with Wirex is a plus for both companies. Mastercard provides for different requirements before working with a partner. The partner must provide consumer protection. It should provide privacy by securing the customer’s personal and transaction details. 

The partner must make it easy for all stakeholders to transact. The regulations are also relevant, which the partner must follow. Anti-money laundering regulation is one of the top laws. The local rules are also as important as international regulations. 

For WireX to work with Mastercard means it meets all the provisions. This increases customer confidence hence more growth. 

The Increasing Demand for Crypto Cards 

There has been an influx in the adoption of cryptos recently. This began by the acceptance into the wall street. It was then followed shortly by businesses embracing the coin. Bitcoin has since become mainstream. 

The only concern has only been on making it more accessible. Users are looking for better ways to buy, sell, or hold the crypto. The exchange of different currencies has also been an issue. That is where the need for crypto cards comes in. 

Visa has been the leading crypto card service provider. It had already partnered with several entities. But there have been security concerns. Some of its entities have failed, leading to customer backlash. Mastercard is looking to solve the concerns. The widespread credit card supplier has a good security record. 

They invest in high-end security features. They also have laid down rules for partners. 

As long as masses use crypto, they will need the cards. So far, the use has been on an upward surge. Some studies have established up to 20% of some countries use crypto. The numbers will grow with new coins coming up. The existing currencies are also improving security and transaction speeds.

How to Join WireX

Wirex comes with several financial opportunities. Traders can take advantage of the offer by registration. The company offers a simple registration process. With a few clicks, one can create a trader account and apply for a debit card.

The account becomes active once the user verifies it. They can then proceed to add funds to the wallet. The account only allows transactions for cardholders. Applying for the card requires a few personal and address details. Afterwards, the trader can use the card on any accepted location.

The account allows crypto buying for cardholders. It comes with a mobile application for convenience. It also supports two-factor authentication. The user doesn't have to worry about security. The customer support team is also at hand for any concerns. 

What Next for WireX? 

For WireX, the introduction of the Mastercard-card is a significant achievement. The company is always looking at ways to improve service provision. It already offers several cutting-edge services to the millions of its users. It is always looking for ways to make digital money accessible to everyone. 

It takes pride in being the first company to provide contactless payment cards. It was also first to introduce rewards on transactions. It offers 1.5% money back in the form of Bitcoin for all transactions. It has also been expanding fast. It has added a native Wirex Token and expanded into the APEC market. 

It has also grown to new markets in the past few months. It has offices in Japan, Toronto, Dublin, and Atlanta. 

Introducing the Mastercard crypto card is also a step into a better future. It is a way to revolutionize the fintech and crypto payment system. The Mastercard lays a foundation for the next-generation card. The cards will be available later in the year.

It looks to support more currencies while providing free ATM withdrawals. It also seeks to expand limits and reduce transaction fees. The changes will make it the unbeatable crypto card service provider

It is also considering business crypto cards for business clients. WireX values innovativeness to remain the world crypto card leader it is. It develops products in line with market needs while following regulations. 

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