Skip to content
- Crypto users can now make payments with the Spend Card, featuring instant fiat conversion, with Ledger, Mercuryo, and Mastercard.
- Spend Card offers global use at 150 million merchants, integrating with Ledger and mobile payment services.
- Users must complete KYC/AML checks for security and consumer protections, including chargebacks and refunds.
Mastercard, Ledger, and Mercuryo have introduced a credit card that will allow for making purchases with cryptocurrencies right from the Ledger hardware wallet. The card was launched on 23 April 202,5 and, besides now allowing users to hold tokens directly. It exchanges the balance for USD or any other fiat currency during the purchase. This collaboration will enable users worldwide to make payments in cryptocurrencies more easily and efficiently.
The Spend Card is integrated with Mastercard technology and supports Ledger devices. And it is possible to pay with it at more than 150 million merchants. A feature that sets it apart from other service providers is that the amount is instantly converted to fiat upon using the Spend Card. This helps to overcome problems associated with exchanges and makes it easier to make payments in cryptocurrencies.
Enhancing User Experience
This potential partnership was also exciting to Petr Kozyakov, the CEO and co-founder of Mercuryo, as it aligns with their corporate mission of delivering intuitive customer experiences. He underlined the need to leverage advanced technologies to provide a user-friendly solution. The card can also support other mobile payment solutions, like Apple Pay or Google Pay. Which improves the experience and expands the target audience of users of digital wallets.
A Spend Card will be issued and accepted at millions of merchants worldwide that are part of the Mastercard network. Ledger users will be able to spend their crypto more easily without worrying about exchange rates or the need to convert currencies. The integration of digital currencies into the payments system makes the spending process relatively easy and efficient.
According to Jean-Francois Rochet, the EVP at Ledger, the Spend Card has advantages associated with self-custody. He noted that combining self-custody with the Mastercard payment system is beneficial because it will provide more opportunities to use cryptocurrencies. The benefits of this card, with regard to users taking control of their own funds.
Crypto Transaction Protection
However, the users are required to complete the Know Your Customer (KYC) and Anti-Money Laundering (AML) checks to obtain access to the card. It eliminates the risk of not meeting requirements. On the other hand, consumer relations involves the right to demand chargebacks and refunds.
The use of cryptocurrencies as a method of payment is rapidly developing, and the cooperation of Ledger, Mercuryo, and Mastercard is an innovative move toward this change. It offers consumers the ease of using their crypto assets for spending globally, effectively, and securely.
