Crypto-currency exchange, BitPay, says it will launch a new credit card service
Posted On September 18, 2021
Share this article Share BitPay has confirmed to CNBC that it is launching a new platform called BitPay Credit Card, which it says is aimed at enabling “people to spend on credit cards, debit cards, and other forms of payment, using BitPay.”
The platform will be available in the U.S. in the coming months.
BitPay says it is also planning to offer its existing credit card offerings in the same manner, with the same features as those currently offered on its credit card app.
BitPays main competitors are Credit Card One and Card One Global.
BitPay says its credit cards offer a range of features, including the ability to pay for purchases through PayPal, credit cards with VISA, Mastercard, and American Express, as well as a “secure online shopping experience” that includes shopping, gift cards, insurance, and more.
Bitpay says its cards will be compatible with all major credit card networks.
It also says its card offers the same security features as its existing card offerings, which include a PIN to unlock a transaction, and a security code to protect your information.
Bitpay will launch BitPay Credits Card on January 1.
For its part, the credit card industry has been experiencing a slowdown in recent months as competitors such as MasterCard and Visa have begun offering a range more tailored to consumers, and merchants are struggling to keep up with consumer demand for more convenient access to credit cards.