Cryptocurrency

Mexicans have a new Visa card for payment and rewards with bitcoin

Mexican users of bitcoin (BTC) can now redeem their cryptocurrencies by weights, then reload a Visa debit card and make purchases at any store with point-of-sale. The bag house Tauros introduced the new means of payment in an alliance that aims to facilitate the access to the first criptomoneda in Mexico.

The issuance of the card has a cost of 300 pesos or $ 13 as a single payment and is received by the applicants in 2 to 4 business days of the request. This was reported to Breaking News, Roberto Conte, director of business development of Tauros.

“In summary (we want) to facilitate the access to bitcoin. The question recurring to the that we face when we talk about bitcoin is where do I use it? who accepts it as a mode of payment? The answer is that the adoption of bitcoin as a payment method is not yet at the level we would like, and it is something that depends on the time. It is therefore necessary to create connections between bitcoin and the current system of payments”, indicated the executive.

Visa card, and refills with bitcoin

Before you activate or reload the debit card physical the person must activate a digital version that is created automatically when you open an account at the brokerage house.

On this process, Conte explained that it is a necessary step to assign a CLABE account of mexican pesos. Once fulfilled with the activation, the user must fund the account with the 300 pesos needed for the application of the card.

To recharge the card, the user of Tauros should sell their bitcoins for mexican pesos on the platform. To get the currency to fiat the person has two options: sell automatically at a rate that is below the market or to generate an order at the price you consider. However, for this last option the weights will not be paid until it has processed the sale.

The use of the card gives users rewards in cryptocurrencies to encourage their use without the payment of commissions by purchase. Until the moment Tauros offers incentives in bitcoin and Dash. For the first case it is a 0.5% per purchase, and the Dash is of 2%. The director of business development reported that later it will be incorporating more cryptocurrencies with new percentages.

The issuance of the Visa debit card Tauros has a cost of 300 mexican pesos or $ 13. Source: Tauros.

The membership service of Tauros should be done with any of the following identification documents: passport, mexican, INE/IFE or FM2/FM3. It is also necessary to have an e-mail, telephone number and the Unique Key of Population Registry (CURP).

The announcement of the card Tauros comes five months after Visa call all the companies interested in issuing cards related payments with bitcoin. Breaking News reported in may of this year that the service AirTM had introduced a virtual debit card to make purchases with cryptocurrencies. More recently, in July of this year, the house of change Binance launched its Visa card cryptocurrencies to Spain and all of Europe.

Of the ads above, it’s apparent that the major means of payments continue taking steps for integration with companies in the ecosystem bitcoin, which results in greater adoption and new methods of use for cryptocurrencies.

About the author

Belinda Carey

Belinda Carey

A finance girl by education, Belinda has been drawn to cryptocurrencies ever since Bitcoin first emerged in the 2009. Nearly a decade later, Belinda is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies.

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