PolisPay Card is back
PolisPay Card is back
Several months after the cancellation of the PolisPay card, we are very pleased to announce that the PolisPay card is back.
A little bit of insight
Since the launch of the PolisPay card Open Beta we noticed a growth in our social media networks and a growing interest for our card. However, after some misunderstanding with our card provider, we had to close the development process and seek the license to use cryptocurrency-related cards. More information about this can be found on the original post: https://medium.com/@PolisBlockchain/polispay-important-announcement-7f639965ca43
Although we knew the process of obtaining the proper licensing from the international payment processors was complicated, the PolisPay team was determined to keep trying other options.
Right after we made the announcements, we noticed an array of possibilities on which we are still working on and continuing the process of obtaining the MasterCard licensing, seeking an alliance with other Visa card providers as well as a completely different card provider.
After several months of negotiations, we realize that it is still possible to recover our original MasterCard card, and we will continue to try bringing it back.
The new Union Pay card
A couple of months ago we started negotiations with card provider Union Pay, who opened up the possibility of using cards within our app.
That is why we have finalized the process of negotiation and will begin the new process of developing the integration of prepaid Union Pay cards to the PolisPay app.
New fees and costs
With these new cards, we were able to make some adjustments to the limits and fees of the card.
The fees are the following:
1. Card
- Yearly Fee USD 35 (Paid in POLIS)
2. Card fees
- Crypto to fiat conversion 3% (Paid in POLIS)
- ATM Withdrawals USD 4.50
- POS Payments USD 1.50
3. Deposit limits
- Maximum Daily Load (0.15 BTC) This may increase in the future.
- Maximum Monthly Load USD 50,000
- Maximum loads per day 12
- Maximum spend amount per day USD 2,500
- Maximum card balance USD 50,000
- Maximum ATM Withdrawal per Transaction USD 500
- Maximum ATM Withdrawal per day USD 2,500
Launch of the Closed Beta
We currently have 500 cards available to start the process of the closed beta. Further along, we’ll begin the user signup process, and that is why we ask you to stay tuned to our social media networks.
The future of the card
We acknowledge that this is not a proper final solution as it is not what we initially promised. That is why the PolisPay team is fully committed to bringing the users that trusted us, the product that we offered them, that is why we have not stopped working on bringing back the MasterCard cards. We are still working on it and hope to update you on the matter shortly.
