Next-gen payments company Wirex fired a warning shot at competing platforms with the launch of a comprehensive product overhaul and new card. The overhaul kicks off with the release of exciting features, including five new currencies and free foreign exchange. The company also announced the upcoming launch of their hotly-anticipated Wirex Mastercard card, along with an upgraded rewards programme.
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The first of a three-phase, revolutionary product update was recently made available to Wirex users in the European Economic Area (EEA), in line with a close partnership with payment solution company LHV. A range of features are now live, including five new currencies (HRK, CZK, PLN, RON, and HUF), free multicurrency individual IBANs and free SEPA multicurrency transfers and SEPA instant for EUR transfers, while foreign exchange fees or currency conversion fees when topping-up with a local currency card have been removed.
Wirex also announced the upcoming release of its new multicurrency Wirex Card, supported by Mastercard. The news comes off the back of the crypto-native platform’s Mastercard principal membership announcement in July.
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The new Wirex card is already being touted as a potential competition-killer with the potential to set a new standard in the FinTech and crypto payments space. Linked to 19 secure crypto and traditional currency accounts in the Wirex app, it allows cardholders to seamlessly spend multiple fiat and cryptocurrencies in day-to-day life without exchanging or offboarding. The company believes that these game-changing features, combined with sky-high limits and next-to-no fees, gives the new Wirex Mastercard a significant advantage over its competitors.
To complete the product overhaul, Wirex has also announced a significant upgrade to its rewards programme. The new offering includes up to 2% Cryptoback™ rewards for all card spending (online and in-store) and up to 6% rewards on customers’ WXT balance annually.
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