share on:

With Visa’s new crypto cards, users will be able to collect cashback in Bitcoin for each payment they make both online and in-store, a first for Latin America.

Payments giant Visa unveils its first crypto-enabled cards in Latin America in collaboration with several fintech startups in the region.

According to the announcement, “these cards will allow users to spend crypto, purchase crypto where Visa cards are accepted for such, and also receive crypto cash back.”

Customers will be able to collect cashback in Bitcoin for each payment they make, whether online or in-store, which is a first for Latin America.

Visa implemented a similar initiative in 2021 in collaboration with the Argentine crypto exchange Lemon Cash.

Unlike the new cards, which serve solely as a vehicle for using crypto for purchases, the former system was voluntary, with Visa customers able to sign up for a 2% Bitcoin cashback on every transaction made with their regular card.

The payments giant announced that it is collaborating with Lemon Cash to launch prepaid cards for Argentine nationals in collaboration with crypto trading platforms and Satoshi Tango.

Colombia, Mexico, and Peru are also rumored to be in Visa’s plans to launch crypto cashback cards. Visa is already striving to popularize cryptocurrency in Brazil, signing deals with crypto firms Alterbank and neobank Zro Bank.

Visa’s main rival Mastercard has also shown a liking towards the Latin American market as it entered into a collaboration with Mercado Libre, one of Latam’s largest retailers.

Credit: The Crypto Times

share on:
Black wash

Black wash

Blackwash is home to news, events, entertainment, inspiration and the rich cultural assemblage of the man and woman of colour. Blackwash echoes the beauty, struggles and successes of black people in Nigeria and diaspora. Every day, Blackwash publishes contents that impact lives spiritually, intellectually and professionally. Blackwash is powered by PROJECT MANAGEMENT HUB BN 2522711.

Leave a Reply

share on: