8.6 C
New York
Thursday, February 25, 2021
Home Payments Visa partners Fold to launch bitcoin rewards card

Visa partners Fold to launch bitcoin rewards card

Visa and popular bitcoin cashback app Fold are ready to introduce customers to the first debit card which provides users with a bitcoin rewards program.

The card will enable users to spend U.S. dollars and get bitcoin rewards, thus promoting cryptocurrency use in standard payments.

Read also: Monzo shuts Las Vegas customer support office, 165 employees being let go

Fold’s CEO Will Reeves said that Visa would be providing the company with financial support and a dedicated team to bring the new Bitcoin cash-back rewards card to market. 

With this, Fold joined Visa’s Fintech Fast Track program. Under this program, Visa allows fintech companies to accelerate their integration with the payments giant.

According to Fold, it is the first crypto-related company to gain admission into the program.

“By joining Visa’s Fast Track program, exciting Fintechs like Fold gain unprecedented access to Visa experts, technology, and resources,” Terry Angelos, SVP and global head of fintech at Visa, said.

“Fast Track lets us provide new resources that rapidly growing companies need to scale with efficiency.”

Marketed as a “brave new card,” it will offer 1-2 percent Bitcoin rewards for any purchase made online or offline.

Read also: Safe haven during a crisis? Revolut backs cryptocurrency as one

Additionally, the company will launch daily promotions in the Fold app that offer rewards of up to 10 percent at select merchants.

Sources: https://www.finextra.com/newsarticle/35613/fold-launches-visa-card-with-bitcoin-rewardshttps://fortune.com/2020/04/09/visa-card-offers-bitcoin-rewards/https://www.theblockcrypto.com/post/60853/fold-visa-fintech-program-debit-card-bitcoin-rewards

Avatar
Jan Cerny
Jan is an innovation enthusiast and Fintech news reporter. He specializes in news distribution, social media, and content analysis.

Recent posts

TransferWise gets rebranded as ‘Wise’

The rebranded company Wise drops the part Transfer as a signal of moving on from the money-transfer focus of the company.

Revolut about to increase fees and cut number of free trades

Revolut introduced additional fees on its free plan and trading on the Revolut platform will also become more expensive.

Exclusive: An interview with Michael Schweikart, a co-founder of the sustainable banking provider Tomorrow

Tomorrow is a social business FinTech company and a neobank, that was started in 2018 by founders Inas Nureldin, Jakob Berndt, and Michael Schweikart with a vision to use money as a lever for positive change. Since its launch in 2018, the company has 50+ employees and 55,000+ customers.

N26 introduces 100% digital account

The German digital bank has just announced the launch of a 100% digital N26 Standard account equipped with a virtual card.