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March 10, 2021

Wirex rolls out multicurrency Mastercard debit card in the UK and EEA

UK-based payments platform Wirex has introduced its multicurrency Mastercard debit card in the UK and EEA, along with its X-tras rewards programme worldwide.

Users of the card can spend up to 18 crypto and traditional currencies in real-time. They can convert their cryptocurrencies into fiat currency instantly and spend it anywhere Mastercard is accepted.

The card’s features include real-time point-of-sale conversion, exclusive interbank and OTC exchange rates, as well as free international ATM withdrawals. It does not charge any monthly fee and also offers free fiat-to-fiat exchanges.

The firm’s users in the UK and EEA region can now order the Wirex debit card from the website. They can avail the X-tras programme globally in-app.

At the same time, Premium and Elite subscribers can avail up to 4% and 12% Savings Bonus on their WXT account balance.

Wirex co-founder and CEO Pavel Matveev said:  “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 travellers and the financially-savvy, and will be a great alternative to traditional banks.”

Wirex X-tras is an upgrade of the payment platform’s rewards scheme.

Users can access X-tras including up to 2% Cryptoback for both offline or online transactions made with the Wirex card.

They can also avail up to 12% Savings Bonus on their WXT account balance for a limited period.

Last July, Wirex secured Mastercard principal membership, becoming the first crypto-native platform to do so.

The move enables Wirex to directly issue Mastercard-branded payment cards to its customers.

In December 2020, Wirex became a principal member of payments company Visa in Europe.

Mastercard UK & Ireland head of Fintech Edoardo Volta said: “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.”

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