Multinational financial services company Mastercard has partnered with digital payment platform Wirex, making it Mastercard’s first principal member. This partnership gives Wirex the power to issue payment cards directly to increase convenience, transaction speed, and reduce the cost to its customers.
Wirex is determined to make the exchange of digital currencies with fiat as seamless as possible and to make the spending of such currencies possible across borders using a single card. Mastercard has now enabled the platform to continue improving on its cutting edge service that enables customers to instantly buy, hold, exchange, and spend multiple traditional and cryptocurrencies at the best-in-market rates, within one platform.
“Wirex is proud to have become a principal member of Mastercard. It has always been our vision to empower everyone to enjoy the advantages of a world where all currencies are equal, and this membership is a step in the right direction,” Pavel Matveev, CEO and co-founder of Wirex said. “we’ve been working hard to develop a cheaper, faster and safer platform, and we’re excited to announce some revolutionary advancements over the next few months that will change the fintech and crypto spaces forever”, he added.
Mastercard is a multinational financial services company headquartered in New York United States. It has offices in several countries in the world with millions of users. Its partnership with Wirex is likely to open doors to greater crypto access and more flexible currency exchange and spending. Also speaking on the partnership, Edoardo Volta, Head of Fintech, Mastercard UK & Ireland said:
“We are excited to be starting this new relationship with Wirex, offering consumers further choice and flexibility in the way they pay. We look forward to supporting Wirex in the delivery and growth of their innovative payment solutions.”
With Mastercard’s support moving forward, Wirex plans to launch a next-generation of Wirex card for customers in the EEA region, with game-changing features including additional currencies, free international ATM withdrawals, much higher limits, and extremely low fees. It also intends to issue corporate cards for its business clients in the coming months to make digital currency more readily accessible and bring it closer to mainstream adoption. Its payment app currently supports a range of cryptocurrency and fiat currencies depending on the regions.