Spend by Mercuryo and Mastercard Enables Payments with 40 Cryptos Across Europe

Sentiment Status: Positive

The Spend virtual debit card can be used at any retailer within the Mastercard network and supports a wide range of cryptocurrencies.

Mercuryo has successfully launched Spend, a virtual debit card that enables crypto payments across Europe. The  product is backed by a partnership with global payment giant Mastercard. With support for over 40 different cryptocurrencies, Spend will allow users to make payments at millions of merchants across the continent.

Mastercard Partnership

Mastercard’s extensive network of over 100 million merchants provides unparalleled reach and credibility, making it easier for crypto users to transact using their digital assets. By teaming up with Mastercard, Mercuryo ensures that Spend users can confidently use their virtual debit cards for a wide range of purchases, from online shopping to in-store transactions.

Christian Rau, Senior Vice President of Mastercard’s Crypto and Fintech Enablement stated: “At Mastercard, we are committed to supporting innovation in the payment space, and our collaboration with Mercuryo is a testament to our dedication to integrating digital assets with traditional finance. Spend represents a significant step toward making crypto payments more accessible and secure for everyone”.

The launch of Spend is a new chapter on the use of crypto in Europe. Spend allows users to maintain full control over their digital assets while enjoying the convenience of traditional payment methods. The virtual debit card can be used at any retailer within the Mastercard network.

Spend supports a wide range of cryptocurrencies, including Bitcoin, Ethereum, and over 40 others. 

User-Friendly Features and Security

Mercuryo prioritized user experience with the Spend platform. The platform is also compatible with Apple Pay and Google Pay, ensuring that users can make payments smoothly.

At the point of sale, the funds in the user’s wallet are automatically converted into fiat currency, simplifying the transaction process for both the user and the merchant. 

Furthermore, Mercuryo has implemented robust Know Your Customer and Anti-Money Laundering protocols to ensure that all transactions comply with European regulations. 

Response and Expansion Plans

The initial reception to Mercuryo’s Spend card has been positive. Users have praised the card for its convenience, low fees, and the ability to use a wide variety of cryptocurrencies. With a card issuance fee of just €1.60 and a monthly maintenance fee of €1.

The transactional spending limit is set at €40,000, making the card suitable for both small purchases and larger transactions. Additionally, Mercuryo plans to expand Spend’s availability beyond Europe.