Industry News

Wirex boosts the crypto market with Cryptocurrency debit cards

TL;DR Breakdown

• Wirex wants to promote and boost payments through cryptocurrency debit cards worldwide.
• Payment through cryptocurrencies and debit cards is the new way to enter the financial and crypto market.

Everyday payments through cryptocurrencies are gaining more attention among consumers worldwide who want to spend their virtual currencies to buy goods and services. Wirex CEO Pavel Matveev has analyzed the use of debit cards for crypto and the benefits it can bring to issuers.

Matveev also adds that this payment option will allow consumers and issuers to enter the new financial and crypto markets worldwide.

Wirex and its offer to use debit cards for cryptocurrency payments

The marriage between debit cards and cryptocurrencies is a relatively new phenomenon, where the payments sector has a fair chance. It is an important offer for debit providers as consumers have more payment options, and merchants can open up to new customers.

Many consumers have cryptocurrencies and want to make their purchases through these virtual currencies. It would be an option to offer confidence to existing customers looking for new payment options with digital assets.

For virtual currency companies, a union with debit cards is an alternative to open new representations of economic potential and thus be able to increase their reach.

Wirex is a digital payment platform based in the UK. It was the first crypto company to take the initiative in 2015 to supply debit cards to its customers. Pavel Matveev, the company CEO, commented that there was a considerable increase in cryptocurrencies among his clients after this launch.

Cryptocurrencies and debit cards for a more comfortable payment method

According to Matveev, debit companies were interested in teaming up with digital assets to bring larger merchants and banks to offer this payment method. This connection has allowed Wirex to increase its customers and encourages the use of cryptocurrencies in buying products or services.

Wirex biggest challenge was convincing merchants worldwide to accept digital assets mostly volatile and unknown. The most effective strategy the company used to promote acceptance was offering discounts. They promised crypto users to get a percentage discount on their purchases with certain merchants.

Pavel Matveev has identified the main benefits for debit card payment providers with options to use cryptocurrencies. One benefit is there will be more volume of transactions, customers will increase, and there will be better exposure to the knowledge of virtual currencies.

Cryptocurrencies are used in all countries and especially in regions without banks. Matveev indicates that virtual currencies are a payment method and a good investment. Cryptocurrencies have the interest of many people, and this means more exposure and more customers.

This post was last modified on June 9, 2021 5:49 pm

Carisbel Guaramato

An avid content creator for over 4 years, Carisbel spends her time on blogs and technology news. She honed her skills as a social communicator and now finds crypto and blockchain news events worldwide for transmission through Cryptopolitan's neutral and incisive way.

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