Visa launches ‘Bitcoin Cashback’ cards in Brazil and Argentina
Teaming up with fintech startups and firms in the region, Visa will issue cards that allow users to receive Bitcoin cashback with every payment made.
In 2021, Visa partnered with Argentinian crypto exchange, Lemon Cash, to release Visa cards offering a 2% Bitcoin cashback for every transaction. Visa is also set to launch Lemon Cash prepaid cards in Argentina, via an agreement with crypto trading platform Satoshi Tango and Crypto.com cards.
Visa has fostered similar partnerships in Brazil with neobank Zro Bank and crypto-specialising firm Alterbank.
The payments giant is looking to expand crypto cashback cards throughout the region, including Mexico, Peru, and Colombia.
Earlier this year, fintech group Mode re-launched a Bitcoin cashback program following controversy in late 2021. The group was forced to retract claims that UK retailers Boots, Homebase and Ocado would participate in the scheme. CEO at the time, Ryan Moore, resigned shortly afterwards, succeeded by former Alipay exec, Rita Liu.
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