One of the world’s two largest payment systems, Visa, has agreed with Latin American startups to issue specialized bank cards.
Visa announced, which wants to give as many people as possible the opportunity to use cryptocurrencies through its payment network. The company has negotiated with local companies such as Satoshi Tango, Lemon Cash, Zro Bank and Afterbank.
Cardholders of these startups will be able to pay with digital currencies, buy crypto assets through Visa-supported sites, and also receive a refund for purchases in bitcoins.
“The crypto ecosystem continues to evolve and expand in Latin America with increased investment, widespread consumer adoption, and a large number of use cases. And we intend to continue to build on our strategy to support the crypto industry, our partners and customers,” said Romina Seltzer, Senior Vice President of Products and Innovation at Visa.
According to Lemon Cash co-founder Borja Martel Seward, in Central and South America, cryptocurrencies represent a solution to improve the lives of people who find it difficult to access traditional banking products. The company is going to provide Visa customers with a 2% cashback in bitcoins for any purchases.
Visa has been conducting research on consumer perception and use of cryptocurrencies for a long time now as digital assets continue to gain popularity. The company cites its “Cryptophenomenon: Consumer Attitudes and Usage” study, in which Visa found “almost universal awareness of cryptocurrencies.”
As a reminder, earlier Visa’s main competitor, Mastercard, announced the expansion of cooperation with NFT platforms in order to allow its customers to directly buy collection tokens.
Source: Bits
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