W-Pay uses contract technology and providing instant global multi-currency payment solutions, a fully-automated trustless blockchain environment for M2M (Machine to Machine) payments with zero blockchain fees, gateway fees, or customer chargebacks, the company claims.
The solution combines cryptocurrency network with traditional banking services and the VISA card scheme. It supports over 50 cryptocurrencies together with fiat money, which clients can use without the need to wait for blockchain confirmations.
The most important features that W-Pay brings are:
Support for numerous cryptocurrencies, digital assets and integration with the VISA network.
A security platform connected to multiple blockchains as well as traditional payment schemes, designed in accordance with ISO 20022 and PCI/DSS standards.
VISA Network: Deep integration with the VISA card network brings digital assets to traditional payment infrastructure, making it possible to use digital assets with more than 40 million merchants in 210+ countries. As of mid-2017 Wirex has issued more than 700K cards for customers in 130+ countries.
Instant Payments: Capacity to process millions of payments without a need for custodians. Bidirectional payment channels allow network participants to pay each other off-chain and only broadcast net positions to the network based on their business rules.
Wirex serves 800,000 customers in more than 130 countries and is in the process of obtaining an e-money license in the United Kingdom. The company achieved USD 1 billion of transaction volume in June 2017 and has offices in London, Tokyo and Kiev.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now