The reason for this decision was the closure of UAB Finansinės paslaugos Contis, the Lithuanian division of the British electronic payment operator Contis Financial Services. From December 20, UAB Finansinės paslaugos Contis will no longer be able to support the program for issuing and servicing debit cards under the Binance Card VISA program.
“The Binance VISA card will not be serviced as of December 20, 2023. The restrictions will affect no more than 1% of our users. Exchange accounts of Binance VISA debit card holders will continue to operate as normal,” a representative of the exchange said.
The email asks users to self-destruct their VISA debit card and switch to Binance Pay, a contactless and secure cryptocurrency payment service.
The Binance VISA debit card program was launched in 2020. Users were offered access to a cryptocurrency wallet linked to a VISA debit card and automatic conversion of crypto assets to fiat money.
Source: Bits
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