Visa, one of the world’s two largest payment systems, has agreed to give specialty bank cards to Latin American entrepreneurs.
Visa has stated that it aims to make cryptocurrencies accessible to as many people as possible via its payment network.
Satoshi Tango, Lemon Cash, Zro Bank, and Afterbank are some of the local companies with which the company has negotiated.
These startups’ cardholders will be able to pay with digital currencies, purchase crypto assets through Visa-supported sites, and get a refund for bitcoin transactions.
With greater investment, significant consumer use, and a wide range of use cases, the crypto ecosystem in Latin America continues to adapt and flourish. And we plan to keep advancing our strategy to serve the crypto industry, our partners, and our clients, said Romina Seltzer, Visa’s Senior Vice President of Products and Innovation.
In Central and South America, cryptocurrencies, according to Lemon Cash co-founder Borja Martel Seward, represent a solution to enhance the lives of people who are unable to access traditional financial products. The startup will provide Visa customers a 2% reward in bitcoins for any purchases they make.
As a reminder, Visa’s primary competitor, Mastercard, recently announced the expansion of its partnership with NFT platforms, allowing its consumers to purchase collection tokens directly.
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