Leading payments platform, Wirex, has become a principal member of Visa in Europe, a highly respected achievement for the London-based business with ambitious plans for 2021.
Having successfully completed Visa’s FinTech Fast Track Programme, Wirex have secured the sought after principal membership from the global payments company. Principal membership will allow Wirex to issue Visa cards themselves, offer new innovative products, and apply for additional licences.
The announcement comes at a pivotal time for the digital economy, with Bitcoin recently hitting its all time high and a series of large industry players recently showing support for cryptocurrency.
Wirex already offers their services to over 3 million people across the EEA and APAC regions, and research shows the use of crypto is continuing to grow. Wirex themselves have experienced a 271% increase in the number of crypto exchanges on their platform compared to this time last year.
“Digital currencies have the potential to extend the value of digital payments to a greater number of people and places,” said Cuy Sheffield, Senior Director and Head of Cryptocurrency, Visa. “We’re excited to work with innovative Fintechs like Wirex and enable their customers to use digital currencies at more than 61 million merchants on the Visa network.”
Looking for information about how COVID-19 has impacted the payments industry?
The Strawhecker Group (TSG) and Visa Consulting & Analytics (VCA) teamed up to survey a representative sample of U.S. consumers, and analyzed Visa’s proprietary spend data, with the goal of understanding how the COVID-19 pandemic has impacted consumer lifestyles, payments trends, and how behaviors may change after the pandemic.