Bitpanda Launches Debit Card That Allows Users to Shop With Cryptocurrencyby Fintechnews Switzerland January 21, 2021
Bitpanda, an Austrian digital investment platform, has launched a debit card by Visa that is linked to the assets in its user’s portfolio, enabling them to use Bitcoin or other cryptocurrency holdings to shop online and in stores worldwide.
Through its desktop site and mobile apps, Bitpanda users have access to more than 50 investment assets such as cryptocurrencies and precious metals.
The company said in a statement that transactions will be processed immediately and users will get a real-time push notification every time the card is used. Along with this, payments can also be contactless, through the use of Google Pay and Samsung Pay.
Customers can use the Bitpanda app to switch between payment assets. Bitpanda said that there are no card fees or monthly account fees and users will receive up to 2% cashback in Bitcoin for purchases made.
Bitpanda customers who are current euro area residents can apply for the new crypto debit card either directly through the Bitpanda app or via its website.
Eric Demuth, Co-Founder and CEO of Bitpanda said,
“We wanted to build a product that is missing in the market by asking ourselves why it wasn’t possible to spend your investments at any time you want. We answered this question with the Bitpanda Card, allowing users to spend any of their assets, be that with crypto, metals, or fiat, as they please. No topping up is required.
Everything that holds value should be treated equally and should be possible to use as you wish. The arrival of the Bitpanda Card comes at a time where cryptocurrencies and digital assets are moving into the public eye faster than ever. This is the missing piece of the puzzle in the world of digital finance.”
Stefanie Ahammer, Country Manager Visa Austria added,
“At Visa, we maintain close relationships with local partners around the world in order to advance the future of payment together, in line with the respective market conditions. For this reason, we are particularly pleased to have gained such an innovative and successful company like Bitpanda as a partner in Austria.
Together, we are launching Visa Debit as a future-oriented card product that will now also be available for consumers in Austria and all other Eurozone countries.”
After securing $52 million during a Series A funding round last year, Bitpanda is extending its product range to further innovate the fintech landscape by soon offering stocks and ETFs.