Partnerships / Acquisitions

i2c Teams With Wirex To Introduce Multicurrency Travelcard To APAC Customers

Digital banking and payments firm i2c is partnering with borderless digital payments platform Wirex to introduce a multicurrency travelcard for customers in the Asia-Pacific (APAC) region, Wirex announced on Sunday (Dec. 29). The hybrid personal banking alternative enables people to use crypto, as well as over 150 traditional currencies. The platform folds blockchain technology into everyday transactions, offering customers flexibility and up to 1.5 percent crypto rewards on in-store purchases. 

“Wirex partnered with i2c because [it has] extensive experience with multicurrency wallets, [is] the only processor that can integrate both crypto and traditional currencies on a single platform, and [has] consistently delivered an effective and reliable service,” said Pavel Matveev, co-founder and CEO of Wirex. 

Wirex offers a borderless payment platform to bridge legacy and digital ecosystems in one place. The company has processed over $2.6 billion in transactions across 130 countries.

“Wirex cardholders are now able to travel with multiple currencies to all of the countries they visit using just one card, as well as exchange their crypto to the currency of their choice,” said Ava Kelly, head of global product at i2c. “We are pleased to have been able to help Wirex expand [its] business into Asia with such a highly differentiated and innovative offering that will enhance [its] customers' payment experiences when traveling." 

In November, Wirex teamed up with Visa to offer the Wirex Visa Travelcard in the APAC region. The travelcard will be multicurrency, and allow customers the ability to spend crypto and fiat currencies, earning crypto rewards as they go. All the exchanges from crypto to fiat currency happen before the transaction reaches the Visa network.

The card will be compatible with at least 150 currencies, and allow customers to avoid exchange fees. Customers can use the card wherever Visa is accepted around the world, and get up to 1.5 percent back in bitcoin on all in-store purchases through the card’s Cryptoback scheme.

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NEW PYMNTS DATA: HOW WE SHOP – SEPTEMBER 2020 

The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

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