Banking and payments solutions provider Contis Group has teamed with blockchain personal finance platform Wirex to offer cryptocurrency payments and bitcoin-based financial products.
Founded in 2008, Contis provides alternative banking and payment solutions for international brands and businesses. It offers an alternative banking solution for people who do not want a bank current account and a travel card that allows users to transfer domestic currency onto their card and use it anywhere in the world. The company also provides gift card and loyalty programs. Its solutions include issuer and bank identification number sponsor, payment processor, loyalty program manager, mobile application, financial management, bill payment, and remittance and foreign exchange.
Wirex is a provider of cryptocurrency wallets which are also linked to physical and virtual VISA debit cards. It serves more than 900,000 customers in over 130 countries and has an e-money license in the United Kingdom. Wirex operates in partnership with SBI Holdings in Japan as SBI Wirex Asia.
Under the three-year agreement, Contis will provide full current account and contactless debit cards, enabling Wirex customers to spend their cryptocurrency upon conversion into fiat through the Wirex platform. Wirex will also utilize Contis’ white label product Canvas to offer multi-currency accounts to its customers, allowing them to spend cash converted from cryptocurrencies on everyday purchases.
Contis is also planning to issue cards that support GBP, EUR and USD. The virtual cards will go live on March 20, whereas their physical counterparts won’t launch until May 2018.
Contis CEO Flavia Alzetta said the partnership with Wirex has the potential to reshape the payments ecosystem.
“Contis’ entry into the cryptocurrencies sector is a bold but fitting one, putting us at the coalface of disruption and showcasing the strength of our white label solution, Canvas,” said Alzetta. “It is a clear demonstration of our ability to leverage our platform to develop bespoke solutions that power financial services innovation.”
Wirex CEO Pavel Matveev said the decision to partner with Contis was based on their absolute confidence in them being the best at what they do.
“Contis’ technology and easy-to-use platform means our customers will benefit from a reliable and hassle-free, state-of-the-art solution, that others are years-away from delivering,” Matveev said.
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