Weld card: Ukraine launched a payment card for cryptocurrency payments

Weld card: Ukraine launched a payment card for cryptocurrency payments

Unex Bank, Mastercard and fintech startup Weld Money have launched a weld card in Ukraine, a cryptocurrency payment card that allows you to pay with cryptocurrency for goods and services wherever cashless payments are available.

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Weld card is a Debit Mastercard-based digital payment card that is linked to a cryptocurrency wallet on the Weld Money platform. The card can be added to Apple Pay, Google Pay and paid with cryptocurrency for goods and services without the need for the user to independently convert it into a regular (fiat) currency. Currently, the weld card allows settlement with the USDT stablecoin, and other cryptocurrencies, including Bitcoin, will be added soon.

To pay for purchases using a weld card, the owner needs to attach a smartphone or smart watch (supporting Apple Pay, Google Pay) with a digital card to the POS terminal. When shopping online, you can traditionally enter your card details on the store’s website. After that, the bank will conduct a settlement transaction in hryvnia, and the equivalent of the hryvnia amount used by the client is deducted from the user’s cryptocurrency balance on the Weld Money platform. Cryptocurrency conversion takes place automatically, no additional commissions are charged from the user. In addition, weld card holders can withdraw cash from ATMs that support contactless payment technology.

The virtual card is issued online on the Weld Money platform. At the same time, modern technologies for verifying and identifying customers are used, implemented by Unex Bank, in accordance with the current legislation of Ukraine, namely, Diya , Diya.Pidpis . The whole process takes about 15 minutes. Citizens of Ukraine over 21 years of age can apply for a weld card. Issuing a digital card is free. Additionally, customers can order the issuance of a physical plastic card at a branch of Unex Bank.

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