News debuts its Marqeta powered Visa Card

Friday 28 October 2022 14:57 CET | News has launched its Visa Card, which leverages Visa’s payments network and Marqeta’s card issuing platform. 


At launch, there were 50,000 waitlist sign-ups; in its initial state, the card will be available to US residents only, users being enabled to spend their crypto or cash within their Wallet without paying any fees and will earn 1% back in crypto wherever Visa debit cards are accepted. Following the US rollout, the card is expected to be available to customers in more countries from 2023 onwards. 

By leveraging Visa's network and Marqeta's platform, the Visa Card offers no sign-up, card issuance, or annual fees. Marqeta's Just-in-Time Funding feature enables users to spend from their available crypto balance and settle the transaction in fiat, as every Visa Card will be linked to a verified Wallet account. Customers will be able to pay for online and physical goods and services using their crypto or fiat balance at every US merchant that accepts Visa debit cards.

Company officials have stated that this launch marks the next step in making crypto accessible to as many people as possible and easy to use in the real world and is also an example of how digital assets make their mark in the financial services industry.

Marqeta’s State of Money Movement 2022 study shows that among the US consumers surveyed, 38% stated that they own cryptocurrency and highlighted the fact that there is a growing need for enabling crypto usage in everyday scenarios. Almost all cryptocurrency owners that were surveyed (93%) said that they are holding it as an asset. However, there is a significant consumer demand to use it more as a currency for exchange, with more than 3 quarters of the consumers that were surveyed globally (82%) having stated that they would be interested in having their cryptocurrency exchange offer a debit card to use cryptocurrency for making everyday purchases. has launched its Visa Card, which leverages Visa’s payments network and Marqeta’s card issuing platform., Marqeta, Visa product offering is a global crypto company that aims to help its customers access cryptocurrency in a safe manner. Having over 80 million customers across more than 200 countries, the company simplifies crypto usage with its wallet, fast exchange, data-rich explorer, and bespoke institutional business. To date, the company has transacted on its platform over USD 1.2 trillion; it has been venture backed since 2014 and was last valued at USD 14 billion.

Marqeta's card issuing open APIs powered platform helps customers create customised and innovative payment cards and gives them the ability to build more configurable and flexible payment experiences, helping them accelerate product development and democratise access to card issuing technology. Customers are provided with access to highly scalable, cloud-based payment infrastructure and are thus enabled to launch and manage their own card programs, issue cards, and authorise and settle transactions.

Visa is a digital payments provider, facilitating transactions between consumers, merchants, financial institutions, and government entities in over 200 countries and territories. Their mission is to connect the world though means of a secure and reliable payments network, while simultaneously enabling businesses and economies’ growth.

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Keywords: product launch, cryptocurrency, cryptocurrency exchange, crypto asset, payment methods, digital wallet
Categories: DeFi & Crypto & Web3
Companies:, Marqeta, Visa
Countries: United States
This article is part of category

DeFi & Crypto & Web3





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