FinTech Magazine - June 2022 | Page 71

Crypto card payments will increase in 2022 and 2023

Crypto card payments will increase in 2022 and 2023

D

Traditional card networks are becoming increasingly open to cryptocurrency as a form of payment . For example , Visa has an estimated 65 cryptocurrency partners set up to issue Visa cards . Furthermore , in the last quarter of 2021 , the payments giant enabled more than $ 2.5bn in cryptocurrency transactions . This looks set to rise in 2022 , and there ’ s likely to be more cryptocurrency cards as well as issuers that experiment with cryptocurrency in its various forms .
guidelines put in place by the government has meant that this reliance on contactless payment solutions has become even more important over the past 18 months ."
5 . RISE OF THE FINTECH SUPER APP ‘ Super app ’ is a term used to describe an app within the world of commerce that provides something above and beyond the normally accepted service . Digital transformation has led to a rise in the number of banking super apps now available to customers . These allsinging , all-dancing platforms provide their

S

customers with a fully-rounded experience that means they never need to leave the app to carry out a task beyond its capability , in terms of financial services . For fintech , the rise of these apps could mean trading in cryptocurrency while managing several savings accounts . The solutions offer swift and cost-free account opening options , along with cross-border payment tools and multicurrency options for complete payment transparency . Digital banks offering soughtafter super apps include Starling Bank , Revolut , Cashplus and Monzo . fintechmagazine . com 71