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Visa: crypto-linked card payments total USD 2.5 bln in Q1 2022

Wednesday 2 February 2022 12:34 CET | News

US-based payments processor and card issuer Visa has recently released its financial report for Q1 2022.

According to company officials, customers made payments worth USD 2.5 billion with crypto-linked cards in the first fiscal quarter of 2022, which counts for 70% of the company’s crypto volume for all previous fiscal year.

Visa has also announced the company’s network of crypto wallet partners will reach a total of 65 and will include industry’s most popular names such as Coinbase, Circle, and BlockFi. Moreover, Visa counts for over 100 million merchants worldwide that now accept cryptocurrency as an APM (alternative payment method), which proves Visa is constantly updating its policy according to the market trends and customers’ needs.

While crypto-linked card usage reached USD 1 billion by June 2021, Visa mentions the volume payments aren’t concentrated in a specific merchant vertical, as clients use altcoins to pay for everything, including restaurants, travel, and retail goods and services.

Source: Link


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Keywords: Visa, credit card, payment processor, payment methods, cryptocurrency, online shopping, crypto asset
Categories: Payments & Commerce
Companies: Visa
Countries: World
This article is part of category

Payments & Commerce

Visa

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