The PolisPay card is back.
The PolisPay card is back
Several months after the cancellation of the PolisPay card, we are delighted 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:
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.
The new Union Pay card
As part of our goal of implementing a debit card, that would allow any user to spend their crypto as quickly as they would using fiat currency, we started negotiations with card provider Union Pay, who opened up the possibility of using their 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. Users will soon be able to use a debit card to spend their crypto on real-world goods and services.
The process works in a way that merchants get paid in their currency while you are charged in your preferred cryptocurrency from your prepaid balance. This guarantees that users will be able to pay for things, in establishments where cryptocurrencies are not fully adopted yet. Soon you will be spending your crypto everywhere!
New fees and costs
With the new UnionPay 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. You can start signing up for the closed beta here. The people that participated in the past beta will receive a card.
We were overwhelmed by the amount of support and excitement from our community, so we wanted to take some time to answer some FAQ about the cards:
When will the card be released?
At the moment, there is no exact release date, although the release is scheduled for the Q1.
If I already had a PolisPay card, will I be able to use it?
If you had the PolisPay card issued by MasterCard, you wouldn’t be able to use your card as the providers have changed. Union Pay will provide new cards.
Will the beta testers from the past card remain the same, or will they change?
If you were a beta tester from the previous card, you would remain as a beta tester for the new card. You still need to register again here.
I’m interested in being a beta tester. What can I do?
If you would like to apply for the new card, please fill out this form.
If you have any other questions, feel free to contact us on our official social media network accounts.
