Card Programme: Where We’re At
We’re happy to announce that Cryptopay is closing in on the release of our new and improved card programme! The journey is almost over and granted it has been a long one, not without its speed bumps and roadblocks, but the return of your Cryptopay prepaid cards is imminent.
Let’s get down to business and tell you the status of the European card programme.
As of now, we’ve passed two of the three major milestones for getting the European card programme approved and ready to go:
- Pass AML (Anti Money Laundering) requirements for the card scheme
- Acquire our own Bank Identification Number (the backbone of any card programme)
- Co-branding approval from the scheme
Once this last step is complete, we’ll be on our way to providing cryptocurrency prepaid cards in Europe.
What gives, what’s been taking so long?
Let’s be frank, generally speaking, regulatory bodies treat cryptocurrency and its related products with great scepticism if not with outright hostility. Card network schemes are no exception, but at the end of the day, they review a project’s soundness based on technical readiness and regulatory compliance, two areas where Cryptopay shines.
Our top priority is customer satisfaction and in order to ensure this, we need to be able to provide a top class service. This rings true for our company as a whole and each of the services that we offer. Keeping with this, our BIN (Bank Identification Number) will ensure long-term stability and reliability for the upcoming card programme. Most importantly, we’re confident that this product is going to segue smoothly into the existing Cryptopay ecosystem.
A thorough audit was undertaken on all aspects of our company and we’re happy to say that we passed this entire process earlier this quarter. The most difficult times are behind us and completing this speaks to the quality of Cryptopay, which made everyone at the company extremely proud. Cardholders can expect a Cryptopay branded card and all the benefits that come with it. Our support will always be there for you, verification will be straightforward and furthermore, our rates will be transparent and some of the lowest in the business.
Under our control
When we set out to bring back our prepaid cards, Cryptopay made a strategic decision to be in full control of the card programme, rather than relying on a one size fits all white label programme which is what some of our competitors currently have; that type of programme is exactly what we had before. The difference between the aforementioned programme and our upcoming one is the amount of control that companies have over them.
We’ll speak directly to transaction processors, card manufacturers, shipping providers, as well as being able to launch new features and tweak existing ones. Us being able to manage nearly everything will allow us to give our customers the cards they desire and deserve.
On the horizon
We’re not out of the woods yet so to speak, but this part of our journey is coming to an end. None of this could have been done without you, the community. Thanks a million for your patience, feedback, suggestions, and criticism. Our team has been and continues to be hard at work to make our service and prepaid cards tailor-made for our faithful clients and potential customers.
Soon we’ll make announcements regarding pre-orders, card features, and release details. If you’re a Cryptopay user and would like to receive further updates about the card programme and release dates subscribe to our mailing list.
In the meantime, join us on social media and be the first to know about the new cards. Plus, our team would love to have you join us and all of you can feel free to ask any questions, give us some pointers, or let us know what we can do better.
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