Contis, a leading provider of end-to-end banking, payments and processing solutions in the UK and Europe, has entered a landmark partnership with Wirex. Under this 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.
As the cryptocurrency market continues to grow exponentially, Wirex will utilise Contis’ white label product Canvas to offer multi-currency accounts that allow its customers to spend money converted from cryptocurrencies (such as Bitcoin) on everyday purchases.
With the popularity of cryptocurrencies amongst consumers on the rise, Contis’ award-winning, end-to-end banking and payments processing platform will continue their transition into mainstream financial services in an unprecedented move for the payments industry.
The three year agreement marks Contis’ entry into the cryptocurrency market that will see the business issue cards supporting GBP, EUR and USD. Virtual cards will go live on Mar. 20 with physical cards set to be launched by mid-May.
The partnership follows hot on the heels of the launch of Contis’ Buffer Account, and further demonstrates the business’ power to drive structural change within the payments ecosystem through the innovative use of its legacy-free banking and payments platform and its ability to process real-time transactions on both UK and SEPA payment rails.
“The cryptocurrency market is rapidly disrupting traditional financial systems and it’s no surprise that the power of our platform is further accelerating this,” Contis CEO Flavia Alzetta said. “We’re delighted to partner with Wirex in a move that 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. It is a clear demonstration of our ability to leverage our platform to develop bespoke solutions that power financial services innovation.”
“Our decision to partner with Contis was based on our absolute confidence in them being the best at what they do,” Wirex CEO Pavel Mateev said. “Their 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.”