NearPay, a crypto wallet provider, has recently launched virtual crypto cards and a wallet for iOS and Android users, making it easier to use Bitcoin and cryptocurrency as a payment method with vendors.
Along with a list of available assets for users to purchase, the company provides a disclaimer stating that certain funds are custodial and cannot be withdrawn from the platform.
Anyone can access NearPay's services using a desktop, iOS, or Android device. Users are easily able to purchase Bitcoin and crypto with a credit card or bank transfer. NearPay allows all accounts the ability to send, receive, exchange crypto assets, and withdraw funds into a connected bank account.
Additionally, virtual Visa debit cards may be issued when a user spends Bitcoin and crypto for online purchases. This process allows user funds to be converted into fiat when purchasing items or services. However, NearPay is currently only available to residents in the UK, the European Economic Area (EEA), and places that accept Visa.
“At NearPay we have taken the best features of modern digital banking and brought them to the world of crypto to create a simple interface that makes managing all your finances, both fiat and crypto, easier than ever,” said Ivan Ilin, COO at NearPay. “With our newly launched iOS and Android apps our customers can access NearPay Wallet on the go and instantly get virtual crypto cards to spend their assets without converting them in advance.”
NearPay is positioning themselves to tap into a high demand market for using Bitcoin and cryptocurrencies as payment methods. According to Insider Intelligence, data suggests that payments using Bitcoin and crypto is expected to exceed $10 billion in transaction volume across the world this year.
According to a spokesperson for NearPay who spoke with Cryptonews.com, the company is planning on eventually offering physical cards in the near future.
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