dtcpay, a digital payments solutions provider, and Visa have announced a partnership agreement to drive digital payments in Singapore.
The partnership aims to integrate dtcpay’s digital payments capabilities with Visa’s global payments network to enable access to 130 million merchants across more than 200 countries and territories worldwide.
The first phase of the partnership will see the launch of the dtcpay Visa Infinite card that offers consumers the ability to convert their digital currencies such as stablecoins, into fiat currencies at competitive real-time rates.
The fiat currencies will then be used to fund their dtcpay Visa Infinite card, and will be available for public registration in Q4 2024.
Subsequent phases of the partnership will include the development of additional global payments solutions catered to ultra-high-net-worth (UHNW) individuals, businesses, and consumers.
Partnering to Drive the Future of Digital Payments
Asia Pacific is at the forefront of the accelerated use of digital currencies as consumers and businesses conduct payments in a hyper-digitalised world.
With developments in payment methods and platforms enabling seamless commerce across borders, the digital economy in Southeast Asia is projected to hit $1 trillion by 2030.
The dtcpay and Visa partnership seeks to bridge the gap between traditional payments and digital currencies, enabling merchants to accept payments from this growing segment of UHNW customers.
Leveraging its blockchain and multi-currency swap capabilities, dtcpay customers can convert their digital currencies instantly into fiat, then use their dtcpay Visa Infinite card to transact at merchants, allowing businesses who would not have been able to accept digital currencies previously to access this group of consumers.
“Our mission at dtcpay is to bridge the gap between digital payments and traditional finance through the enabling of emerging digital currencies to be used and accepted by mainstream financial systems,” says Alice Liu, CEO and Co-Founder, dtcpay.
“By bolstering this ambition with Visa’s commitment to innovation, our partnership will introduce an additional digital payment avenue for businesses and individuals, enabling dtcpay to drive greater mainstream acceptance for digital currencies.”
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