Visa Launches Bitcoin and Crypto Compatible Cards in Latam – Bitcoin News

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Visa, one of the largest payment companies in the world, has announced the launch of a series of crypto cards in partnership with several fintech startups in Latam. These cards will allow users to spend crypto, buy crypto where Visa cards are accepted for it, and also receive crypto cash back through different fintech partners in the region.

Visa Provides Fintech Partners with Crypto-Enabled Cards

More and more global payment companies are interested in mixing conventional fiat payments with more advanced solutions like cryptocurrencies. Visa, one of the leading payment companies, announcement last week it launched its first crypto cards in Latam, with the idea of ​​allowing more people to use cryptocurrencies through its payment network.

The company has partnered with several startups in Latam, including Lemon Cash and Satoshi Tango in Argentina, and other startups such as Crypto.com, Alterbank, and Zro Bank in Brazil. The functions of these new cards will include paying with crypto, purchasing crypto through Visa-enabled crypto outlets, and also receiving bitcoin cashback.

Commenting on Visa’s intent, Romina Seltzer, senior vice president of product and innovation for Visa Latin America and the Caribbean, said:

The crypto ecosystem continues to grow in the region with increased investment, increased consumer adoption, and more crypto-enabled use cases, and we will continue to build on our strong strategy to build the future of crypto and payments for our customers, partners and consumers.


Specific partnerships

Visa reported several cases of cooperation with Latam-based startups which mainly refer to the case of offering crypto cash back for purchases. This is the case of the company’s alliance with Lemon Cash, which allows Argentinian customers to take advantage of the aforementioned functionality. Regarding this, Borja Martel Seward, co-founder of Lemon Cash, said:

In the context of Latin America, cryptocurrencies are a concrete solution to improve people’s lives. At Lemon, we want to help drive the cryptocurrency revolution across the region, and we’re offering 2% cashback in Bitcoin for all purchases made with Visa credentials.

Crypto.com offers similar cashback rewards to its customers in Brazil, but with a higher cashback bonus. Filomena Ruffa, Managing Director of Crypto.com for Latam, said:

Through our localized products and the expansion of our card program with cash back benefits of up to 5%, we offer consumers and businesses in the region different ways to interact and transact. with cryptocurrencies.

Mastercard, Visa’s direct rival, has also shown interest in the Latam market, after signing a partnership with Mercado Libre, one of the region’s largest retailers, to help it secure transactions on its crypto exchange. .

What do you think of Visa’s launch of its encrypted cards in Latam? Tell us in the comments section below.

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late in the game, entering the cryptosphere when the price surge happened in December 2017. Having a background in computer engineering, living in Venezuela and impacted by the cryptocurrency boom at social, it offers a different point of view. on the success of crypto and how it helps the unbanked and underserved.

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