Visa, one of the major payment businesses in the world, has announced the launch of a new product. In particular, the Latin American market has seen the introduction of a range of cards that enable cryptocurrency. This initiative was developed in collaboration with a number of Fintech businesses based in the region. Cardholders will be able to buy and pay for cryptocurrencies in any location that accepts Visa cards. They will also be able to get cash back for making BTC purchases.
Visa collaborates with Fintech companies
As cryptocurrency adoption grows, more and more companies are exploring hybrid payment options, allowing fiat payments as well as settlements in digital assets.
Last week, Visa announced that it is launching its first cryptocurrency-enabled cards.
In Latin America, the company has worked with a number of companies, including Lemon Cash and Satoshi Tango in Argentina, as well as Crypto.com, Alterbank, and Zro Bank in Brazil. The newly launched cards include features such as cryptocurrency payments, digital asset purchases utilizing Visa-supported cryptocurrency points, and cashback for bitcoin purchases.
In response to Visa’s most recent initiatives, Romina Seltzer, Vice President of Product and Innovation for Latin America and the Caribbean, said:
With increased investment, adoption, and use cases for cryptocurrencies, the cryptocurrency ecosystem continues to expand in the region. We will continue to improve our strategy so that our customers, partners, and consumers may benefit from the future of cryptocurrency and payments.
Visa highlighted many examples of collaboration with Latin American startups, whose services are mostly focused on providing cryptocurrency payback for purchases. This is the case with Visa’s partnership with Lemon Cash, which allowed Argentines to receive refunds of the amount they had spent in cryptocurrency.