#London #United Kingdom #Wirex #stablecoin #BaaS

Wirex Introduces Stablecoin Push-to-Card

In a groundbreaking move for the financial technology sector, Wirex, a comprehensive cryptocurrency card issuer and Banking-as-a-Service (BaaS) provider, has introduced the Stablecoin Push-to-Card service, powered by Visa Direct. This innovative feature will enhance the utility of stablecoins by facilitating direct payouts to eligible cards around the world, representing a significant advancement in how businesses handle disbursements.

What is the Stablecoin Push-to-Card Service?

The Stablecoin Push-to-Card service allows businesses to utilize stablecoins for payments directly to their employees, contractors, and suppliers through a familiar card-based interface. This service is particularly advantageous for companies operating in a global environment, where timely payouts are essential for maintaining relationships and trust with team members and vendors.

Pavel Matveev, the Co-founder of Wirex, emphasizes the importance of the last mile in the payment process, stating, "Stablecoins are great at moving value globally, but the last mile is still where payout experiences break down on usability and operational complexity." This service closes that gap by enabling companies to deliver payouts in real-time, creating a seamless payment experience.

Key Benefits of Push-to-Card Payments

Wirex’s new feature presents numerous benefits:

• - Stablecoin-funded Disbursements: Companies can send money directly to recipients' eligible cards using stablecoins, enhancing the payment experience and offering quick disbursements.
• - Global Coverage: The service allows payments to over 3 billion cards across 200+ countries and territories, providing an extensive reach for companies with international operations.
• - Instant Payouts: Funds can be made available in under 30 seconds, allowing businesses to respond swiftly to various payout needs.
• - 24/7 Operations: With operations running around the clock, companies can ensure that their payout processes are always active, regardless of the time or day.
• - Simplified Processes: By removing the need for complicated banking details such as IBAN or SWIFT, recipients only need to provide their card details to initiate payouts.

Ideal Use Cases

The Stablecoin Push-to-Card service is tailored for businesses with a need for rapid and efficient payout systems. Some scenarios where this service is particularly useful include:

• - Contractor Payments: Companies can instantly pay freelancers and remote team members, facilitating smooth operations and ensuring that talent is quickly compensated.
• - Employee Reimbursements: With quick access to funds, employees can receive reimbursement for expenses without delays.
• - Supplier Settlements: Businesses can accelerate payments to vendors, thereby enhancing cash flow and fostering better supplier relationships.

How to Get Started

Implementing the Stablecoin Push-to-Card service is straightforward for Wirex partners. Here’s how it works in three simple steps:
1. Enter the recipient's card number (16 digits).
2. Select the desired amount and currency.
3. The funds are instantly available on the recipient's card.

Wirex is committed to simplifying the payout process through its Banking-as-a-Service platform, empowering businesses to improve their payment systems without the need for extensive infrastructure development.

In conclusion, the introduction of the Stablecoin Push-to-Card service by Wirex marks a significant step in modernizing business payouts, enhancing speed, simplicity, and global reach. With this innovative solution, companies can now handle their international financial transactions more effectively and efficiently than ever before. For further information on how to implement this system, interested businesses should visit Wirex's BaaS website.

With over 7 million users since its inception in 2014 and $20 billion+ in transactions across 130 countries, Wirex continues to expand its impact in the payments landscape. Trusted as a principal member of both Visa and Mastercard, Wirex makes crypto spending accessible and easy for everyone.