Visa Cryptocurrency Partners

Visa (V) & Nuvei to Deploy Crypto-Friendly Debit Cards in Europe

Visa (V) Launches Service to Simplify Crypto-Related Decisions
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Visa companyV partnership with Company Nuvei The NVEI is getting stronger, with the latter announcing the rollout of branded Visa debit cards in the UK and European Economic Area (“EEA”). Canadian payments company Nuvei is offering cards to its partners through its subsidiary Simplex, a gateway provider for cryptocurrency.

In October 2021, Visa and Nuvei began collaborating to expand digital payments in the United States. The last step strengthens the partnership between them in the European market. The new cards will use Visa Master membership and EMI customer service authorization with a simple path to spend cryptocurrency anywhere Visa is received.

Nuvei acquired Simplex last May for $250 million in cash. Simplex Banking Nuvei will enable its customers to provide their customers with a simplified process of converting digital currencies to cryptocurrency on and off the cliffs. It will help customers to use and spend crypto sales funds in a unified manner. The latest product is based on Nuvei’s crypto-friendly debit cards, which were made available to the COTI blockchain financing system in September.

The latest move enables Visa to strengthen the cryptocurrency ecosystem and reduce the gap between cryptocurrency and traditional finance. Visa is expected to provide a simple and secure cryptocurrency spending path. This will improve the crypto ecosystem and digital asset payments and reduce risks, time to market and costs. Earlier this month, the company unveiled a Global Crypto Advisory Practice in an effort to help clients and partners make financial decisions related to crypto products. The new offering is part of Visa’s payments consulting arm – Visa Consulting & Analytics (“VCA”), which includes many experienced consultants and data scientists.

The newly launched service is expected to be of great benefit to financial institutions interested in launching crypto products or central banks trying to venture into digital currencies. At the same time, the move is aimed at strengthening Visa’s cryptographic solutions and capabilities. Visa’s increasing proficiency in the cryptocurrency ecosystem and its partnership with Nuvei in the huge European market are likely to contribute to its higher growth. Visa appears to be well positioned to take advantage of the prevailing scenario as the global leader in digital payments works closely with more than 60 crypto platforms.

Peer with encryption

Just like Visa, there are other companies like MasterCard Incorporated Master and PayPal Holdings, Inc. PYPL has also made its moves to capitalize on the growing popularity of cryptocurrencies.

In July 2021, Mastercard teamed up with a series of crypto companies in an effort to unveil a card offering and offer seamless cryptocurrency conversion. Mastercard is partnering with cryptocurrency platforms to take advantage of the growing number of consumers entering the crypto space. MA’s continual endeavors to offer a seamless digital currency wallet and exchange experience result in more consumers turning towards crypto cards to purchase digital assets or incur spending. In early November, Mastercard announced a partnership with the Amber Group, Bitkub and CoinJar to provide Mastercard-funded payment cards in cryptocurrency in the Asia Pacific region.

PayPal allows customers to trade crypto assets through its digital wallet. Last year, it launched a service to allow its customers to buy, sell and hold cryptocurrency directly from their PayPal account. PYPL has an offering in a place called Checkout with Crypto, which aims to facilitate seamless online purchases using cryptocurrencies. In August 2021, PayPal unveiled its cryptocurrency service in the UK, marking its entry into the country’s cryptocurrency market.

Price performance and Zacks ranking

Visa shares are up 1.3% in the past year versus the industry’s 18.8% decline.

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The company currently has Zacks ranked No. 3 (Hold). you can see The full list of Zacks #1 stocks (strong buy) today is here.

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Mastercard Incorporated (MA): Free Stock Analysis Report

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Nuvei Corporation (NVEI): Free Stock Analysis Report

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