Wirex Launches Revolutionary Mastercard Debit Card and New Rewards Programme

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Mar 09, 2021, 06:00 ET

LONDON, March 9, 2021 /PRNewswire/ -- Leading digital payment platform, Wirex, has launched its hotly-anticipated multicurrency Mastercard debit card in the UK and EEA, as well as its new rewards programme, X-tras, across the globe. After reaching 75,000 people on the waitlist for the new card, these new features will help to make crypto more accessible to everyone.

Wirex Launches Revolutionary Mastercard Debit Card and New Rewards Programme (PRNewsfoto/Wirex)

With nearly 3.5 million customers, the London-based fintech company made headlines in July 2020, after becoming Mastercard's first crypto-native principal member. Building on this partnership, the new Mastercard debit card will make users' lives borderless by enabling them to spend up to 18 crypto and traditional currencies in real-time. Mastercard principal membership enables Wirex to issue payment cards directly to consumers, making it easier for people to buy, hold and exchange multiple traditional and cryptocurrencies. Consumers can instantly convert their cryptocurrencies into traditional fiat currency, which can be spent everywhere Mastercard is accepted around the world.

The card will solidify Wirex's vision of making the digital economy accessible to everyone. Its features include real-time point-of-sale conversion, exclusive interbank and OTC exchange rates, free international ATM withdrawals, zero monthly fees and free fiat-to-fiat exchanges.

Mastercard UK & Ireland's Head of Fintech, Edoardo Volta, explained that, "The cryptocurrency market continues to mature, and Mastercard is driving it forward, creating safe and secure experiences for consumers and businesses in today's digital economy. Our work with Wirex is another example of how we are empowering consumers with more choice and peace of mind in the way they shop and pay."

The new multicurrency Wirex card is just one of Wirex's many new releases this year. Wirex X-tras, an upgrade of the company's rewards scheme, has also recently launched. Through an innovative new subscription model, customers can access X-tras including up to 2% Cryptoback™ on any in-store or online purchases made with their Wirex card and, for a limited time only, up to 12% Savings Bonus on their WXT account balance.*

Pavel Matveev, Co-Founder and CEO of Wirex, stated that "it's been Wirex's aim to continue developing a next-generation product that will bring crypto further into the mainstream, and the launch of the debit card and X-tras rewards scheme will make this a reality. The huge range of benefits that come with it will appeal to everyone from crypto-enthusiasts to frequent travelers and the financially-savvy, and will be a great alternative to traditional banks."

From today, Wirex users in the UK and EEA region can order the new Wirex debit card from the website, whilst the X-tras rewards programme will be available to customers globally in-app. For a limited time, Premium and Elite subscribers can access up to 4% and 12% Savings Bonus on their WXT account balance. Full details can be found at: wirexapp.com

*T&Cs apply – up to 12% Savings Bonus will be available to Elite subscribers and up to 4% to for Premium subscribers for the first 3 months of their plan, available for a limited time, after which they can earn up to 6% and 2% respectively.

About Wirex

Wirex is a worldwide digital payment platform and regulated institution that has forged new rules in the digital payments space. In 2015, the firm developed the world's first crypto-enabled payment card that gives users the ability to seamlessly spend crypto and traditional currencies in real life.

Wirex was created in 2014 by CEOs and co-founders Pavel Matveev and Dmitry Lazarichev, who identified the need to open up the esoteric world of cryptocurrencies and make digital money accessible for everyone. With the core aim of making it as easy as possible to use digital assets in everyday life, Wirex provides a trusted and cost-effective service for crypto and traditional currency transactions by incorporating the next generation of payments infrastructure integrated with cryptocurrency blockchains

With nearly 3.5 million customers across 130 countries, the company offers secure accounts that allow customers to easily store, buy and exchange multiple currencies instantly at the best live rates on one centralised mobile app. Quick and simple crypto transfer options are available, as well as the freedom to spend 150+ traditional and cryptocurrencies in more than 61 million locations around the world using the Wirex card.

Wirex continues to develop the product in line with market developments, whilst adhering to regional regulations and securing appropriate licensing where it exists. A proven industry pioneer, Wirex launched their own native utility token, WXT, and introduced the world's first crypto reward programme, Cryptoback™, which earns cardholders up to 2% back in WXT for every transaction they make.

Wirex is based in London, with offices in Singapore, Kyiv, Tokyo, Toronto, Dallas, Dublin and Atlanta. With over $5bn worth of transactions processed already and rapid expansion into new territories, including the US and Japan, Wirex is uniquely placed to support and promote the mass adoption of a cashless society through creative solutions.

About the New Wirex Card

The new Wirex card is a multicurrency Mastercard debit card available to customers in the UK and EEA region. The new card transforms an already cutting-edge Wirex product and card that holds 13 currencies, significantly improving and adding many features to make it even easier to spend multiple currencies at any time.

It is linked to 10 traditional and 8 crypto secure accounts in the Wirex app, allowing Wirex cardholders to seamlessly buy, hold, exchange and spend multiple traditional and cryptocurrencies in day-to-day life. State-of-the-art technology enables users to automatically utilise these currencies with the contactless debit card, without the need to manually exchange into traditional currency or offboard, at over 61 million locations around the world.

Mastercard principal membership enables Wirex to issue payment cards directly to consumers, making it easier for people to buy, hold and exchange into multiple traditional and cryptocurrencies. Consumers can instantly convert their cryptocurrencies into traditional fiat currency, which can be spent everywhere Mastercard is accepted around the world.

Features such as up to 2% of Cryptoback™ rewards, the best in-market rates, and low-to-no fees ensure that the new Wirex card will make the digital economy more accessible than ever. Free international ATM withdrawals allow the card to be used as normal in any country, whilst zero FX fees will save users up to 3% compared to the competition.

Key features of the new Wirex card include:

Multicurrency travel card
Ability to buy, hold, exchange and spend 8 digital and 10 traditional currencies, with real-time conversion at point-of-sale
Available in 31 countries
Low-to-no commission on crypto purchases
No monthly fee
Free International ATM Withdrawals, with high limits
Cryptoback™ rewards
Best in-market rates
Free express card delivery
Automatically activated accounts
In-app live chat support
Immediate cascading to a different currency in a prespecified order in case of low funds
In-app currency exchange rates
Fast instant transfers to your contacts

About the X-tras Rewards Programme

The new X-tras rewards programme will give customers the option to choose from three versatile pricing plans. They will be able to unlock a range of benefits, including unlimited, instant Cryptoback™ rewards, Savings Bonuses and the chance to earn free WXT by introducing friends and family to Wirex.

Flexible price plans to suit every circumstance, broken into Standard, Premium and Elite
Up to 2% Cryptoback™ rewards for all in-store and online purchases, and 6% Savings Bonus on their WXT account balance annually
For a limited time, Premium and Elite subscribers can access up to 4% and 12% Savings Bonus for the first 3 months of their plan
Ability to share your unique referral link with friends and family and earn up to $10 in WXT if they join Wirex

| wirexapp.com | wirexapp.com/press |

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SOURCE Wirex