Exodus, Worldpay Team on Crypto Purchases With Cards

Exodus said Thursday (May 29) that Worldpay supplies the card payment capabilities used in its new solution that allows consumers to use a debit or credit card to purchase cryptocurrencies directly within Exodus’ self-custodial crypto wallet.

Exodus announced the launch of this service, XO Pay, Tuesday (May 27), saying the service allows customers to buy and sell cryptocurrencies without using third-party exchanges.

In a Thursday press release, Exodus said that enabling customers to use their preferred credit or debit card to purchase digital assets from directly within their wallet, with the help of Worldpay’s native card payments embedded in the platform, enhances and simplifies the buying experience.

Exodus is also using Worldpay’s fraud detection and prevention solution, FraudSight, according to the release.

“Our No. 1 focus is on delivering the best customer experience in the market, which is why we wanted to work with Worldpay to bring this critical feature to our platform,” Exodus CEO JP Richardson said in the release.

Worldpay’s payments technology and solutions power omni-commerce around the globe, according to the release.

The company’s processing solutions, which allow businesses to manage payments in-person and online, process over 50 billion transactions a year across 174 countries and 135 currencies, per the release.

“Part of making the world of cryptocurrencies and digital assets more accessible to people everywhere is also ensuring the process is simple, secure and as frictionless as possible, which is why we are excited about this work with Exodus,” Nabil Manji, head of FinTech growth and financial partnerships at Worldpay, said in the release.

It was announced April 17 that Worldpay is set to be acquired by Global Payments for a net price of $22.7 billion. Worldpay is currently co-owned by FIS and private equity firm GTCR.

With this and other moves, Global Payments is doubling down on merchant solutions by becoming a pure-play merchant solutions provider.

In other developments this month, Worldpay teamed with cryptocurrency bank BNVK to promote stablecoin payouts, began offering domestic acquiring capabilities in Colombia, and launched a collaboration with point-of-sale tech firm Yabie to power its new business management and payment solution for small- to medium-sized businesses (SMBs) in the United Kingdom.