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Paysafe issues Coinbase’s new Visa debit card enabling easier cryptocurrency spending
Apr 11, 2019
New Coinbase Card, issued by Paysafe, allows customers to spend their cryptocurrency as easily as the money in their bank account
London, UK: Global payments provider Paysafe Group today announces its role in the launch of the Coinbase Card. The cryptocurrency exchange’s new Visa debit card, which is issued by Paysafe, is now available across the UK and soon to be rolled out across Europe.
The new Coinbase Card makes cryptocurrencies within a Coinbase account as easy to spend as traditional money by instantly exchanging the cryptocurrency for GBP or other fiat currencies that can be accessed through the card. Customers can use their card to make contactless payments, chip and PIN transactions or withdraw cash from their Coinbase digital currency wallet at an ATM. Globally, Coinbase stewards more than 30 million accounts and more than $220B in assets have been traded on Coinbase.
The Coinbase Card links to a mobile app, developed in partnership with Apto Payments Inc (formerly known as Shift Payments), providing users with spending summaries, receipts and notifications, and where users can choose which cryptocurrency they want to spend.
Paysafe’s expanding card issuing service is designed to offer consumers more choice in how they pay. The payments provider, which also offers processing, acquiring, digital payment methods, online cash and pay later solutions, recently became a Principal Member of the Visa card scheme, authorised to issue Visa cards to businesses and consumers in Europe.
Lorenzo Pellegrino, CEO - Skrill, NETELLER and Income Access at Paysafe Group, responsible for Paysafe’s Issuing division, added: “Having experienced the growth of the cryptocurrency market first hand, we’re excited to support Coinbase with its latest innovation. This is a major milestone for the cryptocurrency ecosystem in the UK, by introducing a secure yet instant and simple way for consumers to use the value of their cryptocurrencies in the real world.”
Commenting on the launch, Zeeshan Feroz, UK CEO at Coinbase said: “Making crypto easier to use and spend is central to our mission to create a more open financial system. Thanks to the launch of the new Coinbase Card, in partnership with Paysafe, customers now have greater flexibility and control over how they use their crypto, and the ability to realise its value to buy tangible things or experiences.”
Hugh Kingdon, Head of Fintech, UK & Ireland, Visa, said: “It’s an exciting time in the global payments industry as innovators inject new ideas and technologies to enable seamless commerce for everyone, everywhere. We value the opportunity to collaborate with fintech partners such as Paysafe and Coinbase to develop cutting-edge payments solutions for businesses and consumers.”
Founded in June of 2012, Coinbase is a digital currency wallet and platform where merchants and consumers can transact with new digital currencies like Bitcoin, Ethereum, and Litecoin. We're based in San Francisco, California.
About Paysafe Group
Paysafe Group (Paysafe) is a leading global provider of end-to-end payment solutions. Its core purpose is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet, card issuing and online cash solutions.
With over 20 years of online payment experience, an annualized transactional volume of over US $80 billion, and approximately 3,000 employees located in 12+ global locations, Paysafe connects businesses and consumers across 200 payment types in over 40 currencies around the world.
Delivered through an integrated platform, Paysafe solutions are geared toward mobile-initiated transactions, real-time analytics and the convergence between brick-and-mortar and online payments.
Visit us at www.paysafe.com.
About Apto Payments
Founded in 2014 as Shift Payments, Apto is a leading-edge card issuance platform. We help companies issue new kinds of cards in new ways. We do it with fewer constraints and more creativity, for a better cardholder experience.
For Media Inquiries:
Head of Corporate Communications, Europe and Asia
T: +44 (0) 7585 967 772 / Anna.Howard@paysafe.com