Cryptocurrency payments platform Swipe has announced that it has teamed up Samsung for addition of its Visa debit card on Samsung Pay platform. The partnership will enable Samsung Pay users to easily make day-to-day payments directly from their Swipe Visa card via devices with Samsung Pay.
Swipe now boasts as the inaugural virtual wallet that offers global support for both Samsung Pay as well as Google Pay. The new service will allow Swipe debit cardholders in the European Union as well as in the United Kingdom to make crypto transactions at more than 50 million points in the world.
The new agreement between Samsung and Swipe was powered by a mutual issuing financial institution Contis Financial.
Swipe currently supports more than 30 currencies that comprise of stablecoins, cryptocurrencies as well as fiat. The deal means that Swipe debit cardholders will now be able to straightly exchange their cryptos into euros when using the Samsung Pay for transactions.
Swipe CEO Joselito Lizarondo expressed his gratitude for the partnership. Lizarondo told Bitcoin Exchange Guide that the integration as well as relationship with Samsung will enhance mass adoption of crypto and ease their use in day-to-day operations.
Swipe COO, John Khenneth, explained that there has been an increased number of people using other related payment platforms like Google Pay following the outbreak of COVID-19 crisis.
Khenneth explained that the new deal will help even as people are abandoning the use of fiat money and physical cards and Samsung Pay will help create a new channel.
Swipe is headquartered in the Philippines but has operations in Europe both in the United Kingdom as well as Estonia. Recently, the firm was granted approval to start operations in the United States and Lizarondo is optimistic about the future. The firm is also looking to offer its services in the Asia-Pacific and South Asia regions this year.
Following Swipe’s success, other players in the market like Binance as well as BTSE are planning to introduce their own debit cards to get a pie of the market.