Visa is one of the largest payments companies in the globe and has announced the launch a series crypto-enabled cards with several Fintech startups in Latam. These cards allow users to use crypto and buy crypto wherever Visa cards are accepted. They also enable them to receive crypto cash back from different fintech partners.

Visa Offers Fintech Partners with Crypto-Enabled Card

More global payment companies are interested in mixing traditional fiat payments with advanced solutions such as cryptocurrencies. Visa, one of the leading payments companies, announced last week that it launched its first crypto-enabled cards in Latam, with the idea of enabling more people to use cryptocurrencies through its payments network.

The partnership included Lemon Cash and Satoshi Tango (Argentina) and other startups such as Crypto.com, Alterbank and Zro Bank (Brazil). These cards will allow you to pay with crypto, purchase crypto via Visa-enabled outlets, and receive bitcoin cashback.

About Visa’s intention, Romina Setzer, senior vice-president of products and innovation at Visa Latin America and The Caribbean stated that

The crypto ecosystem continues to gain momentum with increased investment and consumer adoption and more crypto-enabled uses cases. We will continue to strengthen our strategy to build the future crypto and payments for customers, partners, and consumers.

Specific Partnerships

Visa indicated several instances of cooperation, mainly in the case of crypto-currency cashback for purchases. The company’s partnership with Lemon Cash allows Argentinian customers to take advantage of the aforementioned feature. Borja Martel Seward (co-founder of Lemon Cash) stated that

was the answer.

In Latin America, cryptocurrency is a practical solution to improving people’s lives. Lemon wants to help the cryptocurrency revolution in the region. We offer a 2% Bitcoin cashback for all Visa-issued purchases.

Crypto.com offers similar cash back rewards to customers in Brazil but with a greater cash back bounty. Filomena Rusta, general manager at Crypto.com for Latam stated:

We offer consumers and businesses from the region multiple ways to transact and interact with cryptocurrency. This is possible through our localized products as well as the expansion of our card programme with cash back benefits up to 5%.

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

What do you think about Visa’s launch of its crypto-enabled cards in Latam? Let us know your thoughts in the comments below.

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