Users of Wirex, a digital payments provider, will now benefit from several location-enriched services. Wirex unveiled the news on April 26, 2021. According to the announcement, cardholders will have the ability to see where payments take place like never before. By leveraging the companies in-app features, Wirex users will have access to unprecedented amounts of transparency regarding their everyday transactions. Following these developments, Wirex will be the first crypto provider to provide this type of lucidity in the market.
The New Services
Wirex partnered with Snowdrop Solutions Ltd to launch a new location-enriched infrastructure. Through this partnership, users will no longer experience uncertainty with payment transactions. Users will have access to merchant names, locations, and associated brands when relevant. Card transaction details will be visible through all 20 digital and fiat currencies supported within the Wirex app. It will offer Wirex cardholders a major confidence boost and insight when they review transactions.
📍 Today we're excited to launch a range of location-enriched services, in partnership with @SnowdropMaps!
Wirex cardholders can now readily see exactly where their transactions take place, to provide a greater level of transparency for those payments. https://t.co/jnWB9BCQVU pic.twitter.com/J8oDGC9kO8
— Wirex (@wirexapp) April 26, 2021
What Leadership Had To Say
While commenting on the recent development, the CEO and co-founder of Wirex, Pavel Matveev said that since they launched the company in 2014, they have worked to simplify the crypto world for ordinary people. He added that
“Partnering with Snowdrop will give our customers access to even more cutting-edge and convenient financial features that add value to their lives, whilst bridging the gap between the traditional and digital economies.”
The Snowdrop CEO, Ken Hart, also had equally positive comments on the launch of the new services. According to Hart, they were excited to be working with Wirex. He noted that
“They put quality customer experience and transparency at the forefront of their business and are committed to lead by example.”
Wirex Growth
Wirex has more than 3.5 million customers globally. The company is renowned for being innovative and driving fintech innovation. It has managed to seamlessly merge the next generation of payment solutions with digital payments. Users of Wirex can spend their crypto at over 61 million locations globally using the Wirex debit card. They were the first company to launch a crypto-enable debit card. Back in October of 2020, Visionary Financial reported on the companies record crowdfund raise. Wirex blew through a targeted €1M raise in 90 minutes, which was fueled by 7,000+ investors.
The fintech company has continued to improve its services during the market’s maturation. Wirex works to ensure that it adheres to all regulations, including securing the necessary licensing in all locations where its services are available. Wirex launched their native token, WXT, which they used to create the first crypto reward program globally called Cryptoback.
Via the reward program, users earn up to 2% back in WXT token for each transaction they make using the Wirex card. Thus far, Wirex has processed over $5 billion worth of transactions.
By partnering with Snowdrop, Wirex will have access to the firm’s Merchant Reconciliation System (MRS) technology. With MRS, Wirex can offer users of their services unique spending insights. Customers can better visualize their financial patterns and habits. With its innovative solutions, Wirex is uniquely positioned to promote the mass adoption of a cashless world.
Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. The information has been obtained from sources we believe to be reliable; however, no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Authors may own the cryptocurrency they discuss. The information and content are subject to change without notice. Visionary Financial and its affiliates do not provide investment, tax, legal, or accounting advice.
This material has been prepared for informational purposes only and is the opinion of the author, and is not intended to provide, and should not be relied on for, investment, tax, legal, accounting advice. You should consult your own investment, tax, legal, and accounting advisors before engaging in any transaction. All content published by Visionary Financial is not an endorsement whatsoever. Visionary Financial was not compensated to submit this article Please also visit our Privacy policy; disclaimer; and terms and conditions page for further information.