By Maria Irene
Wirex, the global multicurrency payment platform, has announced a partnership with Novatti, a payment technology company, to issue Visa cards in Australia. This collaboration will enable Wirex to provide next-generation multicurrency cards to users in Australia, with innovative services and faster card delivery, including the newly added TAUD (True AUD) stablecoin. Existing Wirex cardholders do not need to take any action as their current cards will continue to function until expiry. The updated terms will apply to Wirex users who continue to use the platform after March 14th, 2023.
Wirex has developed the world’s first crypto-enabled debit card. With over 5 million customers worldwide, the platform allows users to buy, hold, exchange and sell over 12 traditional and 130 cryptocurrencies. The Wirex Visa debit card is spendable at 80 million locations globally, making it one of the most versatile payment solutions on the market.
The partnership with Novatti will enable Wirex to issue cards directly to users in Australia, with benefits such as higher card spend limits, up to 8% instant rewards, no FX or maintenance fees, international ATM withdrawals, fiat-to-fiat exchanges, affordable top-ups, and access to exclusive merchant deals. All users will be required to undergo full KYC checks, with transactions and processes meeting stringent AML requirements.
Wirex launched in APAC in 2019 and has since become the fastest-growing region for the platform. With one of the highest levels of crypto adoption in the world, Australia has become an important market for Wirex. The collaboration with Novatti will bridge the gap between the traditional and digital economies and enable Wirex to offer new innovative products, improve user experience, and pilot new blockchain initiatives.
Svyatoslav Garal, Managing Director of APAC at Wirex, said, “As we grow our operations in Australia, we’ve strategically chosen to partner with a trusted Australian headquartered company, Novatti, to issue cards. Being able to expand our product offerings will enable more users to continue taking advantage of the benefits of forward-thinking payments.”
Mark Healy, Executive General Manager Payments at Novatti, added, “Working with a leading payments provider like Wirex showcases Novatti’s expertise in card issuing and provides opportunities to co-create innovative solutions together. With interest in alternative payments on the rise in Australia, we are excited to partner with Wirex to make their ambitions a reality.”
The partnership between Wirex and Novatti represents a significant step forward for the Australian payment industry. As traditional and digital economies continue to converge, innovative payment solutions like Wirex will play a crucial role in driving economic growth and facilitating seamless, secure transactions across borders.