Fintech
Visa Expands Partnership with Wirex to Power Web 3 Payments in Europe
Payment card giant Visa is expanding its partnership with Wirex to improve Web 3 payments adoption in the UK and the European Economic Area (EEA). By integrating Visa cards and reducing payment friction, the partnership promises reliable payment services via the Visa payment network.
According to the official announcement, the partnership is centered on the introduction of Wirex Pay, a modular Zero Knowledge (ZK) payment chain. Wire Pay aims to simplify the way users manage and spend cryptocurrencies and traditional currencies by providing a way to manage funds. This product improves payments enabling transactions between blockchain technology and traditional finance.
Speaking about the expanded partnership, Sviatoslav Garal, Global Head of Payments at Wirex, said: “Being among the few crypto-native companies authorized by Visa to issue cards, and especially the first major member of the Visa Network in Europe, underlines Wirex’s pioneering role in the financial sector.”
“As the financial world boldly moves toward Web 3 and decentralization, the need for robust solutions for the global movement of funds remains essential. Key ecosystem players like Visa are playing a critical role in this shift.”
Visa has pledged to support Wirex’s expansion into existing markets by leveraging Visa’s resources and capabilities. Wirex is a crypto-native company with Visa’s master license for card issuance.
Further partnerships
More recently, Wirex has partnered with OpenPaydan integrated finance and banking-as-a-service company, to facilitate financial services for customers across the UK and EEA. According to the duo, this collaboration will enhance easy, fast and secure payment solutions.
The agreement allows OpenPayd to facilitate the issuance of denominated virtual IBANs to Wirex users in over 30 countries in the UK and EEA regions. These virtual IBANs give users access to the UK’s Faster Payments network and instant Single Euro Payments Area transactions for euro-denominated deposits and withdrawals.
In addition to this, Wirex has incorporated ZeroFox monitoring tools earlier this year to combat threats from dark web activity and money mule accounts. This offering uses human and artificial intelligence to scan the dark web for potential threats, such as leaked data and fake credentials.
Payment card giant Visa is expanding its partnership with Wirex to improve Web 3 payments adoption in the UK and the European Economic Area (EEA). By integrating Visa cards and reducing payment friction, the partnership promises reliable payment services via the Visa payment network.
According to the official announcement, the partnership is centered on the introduction of Wirex Pay, a modular Zero Knowledge (ZK) payment chain. Wire Pay aims to simplify the way users manage and spend cryptocurrencies and traditional currencies by providing a way to manage funds. This product improves payments enabling transactions between blockchain technology and traditional finance.
Speaking about the expanded partnership, Sviatoslav Garal, Global Head of Payments at Wirex, said: “Being among the few crypto-native companies authorized by Visa to issue cards, and especially the first major member of the Visa Network in Europe, underlines Wirex’s pioneering role in the financial sector.”
“As the financial world boldly moves toward Web 3 and decentralization, the need for robust solutions for the global movement of funds remains essential. Key ecosystem players like Visa are playing a critical role in this shift.”
Visa has pledged to support Wirex’s expansion into existing markets by leveraging Visa’s resources and capabilities. Wirex is a crypto-native company with Visa’s master license for card issuance.
Further partnerships
More recently, Wirex has partnered with OpenPaydan integrated finance and banking-as-a-service company, to facilitate financial services for customers across the UK and EEA. According to the duo, this collaboration will enhance easy, fast and secure payment solutions.
The agreement allows OpenPayd to facilitate the issuance of denominated virtual IBANs to Wirex users in over 30 countries in the UK and EEA regions. These virtual IBANs give users access to the UK’s Faster Payments network and instant Single Euro Payments Area transactions for euro-denominated deposits and withdrawals.
In addition to this, Wirex has incorporated ZeroFox monitoring tools earlier this year to combat threats from dark web activity and money mule accounts. This offering uses human and artificial intelligence to scan the dark web for potential threats, such as leaked data and fake credentials.