Visa Travelcard, Wirex Brings Borderless Payments to APAC

Next-gen Wirex Visa Travelcard set to transform APAC's US$800 billion payments industry[1]

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Nov 11, 2019, 06:37 ET

SINGAPORE, Nov. 11, 2019 /PRNewswire/ -- Leading borderless payment platform Wirex announced the launch of a brand new next-generation Wirex Visa Travelcard at the Singapore FinTech Festival today. The multicurrency travel card will empower customers across the APAC region to seamlessly spend multiple crypto and fiat currencies, and earn crypto rewards wherever they travel. All cryptocurrency exchanges to legal tender fiat currency takes place before users transact on the Visa network.

Compatible with more than 150 currencies, the Wirex Visa Travelcard enables customers to link multiple fiat currencies, avoiding costly exchange fees during travel. Wirex card holders can pay their way at 54 million outlets around the world - anywhere Visa is accepted and free international ATM withdrawals. It also offers rewards customers with up to 1.5% back in Bitcoin on all in-store purchases through its first in the world Cryptoback™ programme.

Pavel Matveev, Wirex co-founder and CEO, said, "We're delighted to be able to offer the full Wirex experience and empower customers across APAC to take control of their crypto and traditional currency. This unparalleled functionality and versatility makes the Wirex Visa Travelcard the perfect travel companion, whether customers are travelling abroad for business or leisure."

The launch of the Wirex Visa Travelcard is part of a general expansion of Wirex services for customers in the region, which includes 19 secure, cold-storage traditional and cryptocurrency accounts, including USD, SGD, AUD, JPY, EUR, GBP, BTC and ETH among many others and access to industry-best OTC and interbank rates for crypto and traditional currency exchange. To allow as many people as possible to experience the Wirex Visa Travelcard and gain exposure to its innovative services, Wirex is removing fees, including account management and traditional currency exchange fees, for a limited period.

"We have witnessed an explosion in demand for hybrid fiat and crypto-enabled banking alternatives in APAC, where people need payments redesigned for the future, allowing them to unlock the value of their different currencies," Pavel added. "The evolution of Wirex's offering in APAC represents more than just the next stage in the platform's growth strategy; it is a tangible example of our mission to provide a genuine alternative to conventional financial services by connecting traditional and digital ecosystems on one borderless payment platform."

Since its creation in 2015, Wirex has established itself as a true pioneer in the payments industry with a number of innovative, world-first products to its name. It launched the first Visa card that allowed customers to convert and spend their cryptocurrency in the real world, and will soon release a revolutionary selection of fiat-backed stablecoins. Wirex is also known for its track record in business integrity and consumer protection, as it is one of only three cryptocurrency-enabled companies in the world to be granted a UK FCA e-money licence (No: 902025).

The Singapore FinTech Festival runs from the 11^th to the 13^th of November – you can find Wirex in Hall 4 at booth 4F29. The booth will include live registration for card services, and the first 2000 people to register with Wirex, order and activate their card will receive 20 Nano, one of the most popular altcoins in the APAC region.

About Wirex

Wirex gives its customers the power to use their money, their way. By connecting traditional and new digital ecosystems on one borderless payment platform, Wirex provides an alternative to conventional financial institutions and empowers retail and corporate customers to buy, exchange, and pay using fiat and cryptocurrency. The company has over 3 million customers across 130 countries and has processed more than US$2.6 billion in transactions to date.

| wirexapp.com |

^[1] Global Payments Report 2019: Amid sustained growth, accelerating challenges demand bold actions, McKinsey, 2019

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SOURCE Wirex