In an announcement, the London-based Bitcoin exchange Bitstamp says it has launched a new pre-paid debit card program. The company informs that the initiative allows Bitstamp’s clients to get US dollars, Euros or British pounds denominated debit cards. Nonetheless, these debit cards can be either virtual or physical and loaded with Bitcoin. The announcement read:
Dear Bitstamp clients, we are excited to announce prepaid debit cards program. Bitstamp’s clients are now able to get USD, EUR or GBP denominated prepaid debit virtual or plastic cards. First 100 users to order the card will get them for free. Hurry up and order your own here!
Prepaid plastic debit card are now available for customers who can order them paying just $10. Upon confirmation the buyers will immediately receive virtual debit card that are perfect for shopping online. Customers can also convert their virtual card into a plastic card; it only takes few seconds for doing so.
Additionally, the customers can receive their own plastic debit card to their home address within 10-15 business days along with activation details and instructions. However, for that they need to go through additional verification procedure to raise their annual loading limit. The latest offer is expected to further popularize Bitcoin among users in England.
An outcome of Partnership between Bitstamp and Payment Processor AstroPay
The company informs that the program is being launched thanks to a partnership the payment processor AstroPay. However, initially, the debit cards will be available to the exchange’s customers based in the European Union and will be accepted by any business that currently accepts major credit and debit cards.
According to the official blog that informs the readers, transferring funds from Bitstamp account to the card carries flat $10 fee for amounts up to $1000. Similarly, for transfers above $1000, a two percent fee is charged. Nonetheless, transfers to cards denominated in Euros or British pounds will be converted automatically.
Additionally, the customers holding the card will be have access to their transaction history and able to retrieve their PIN, order new cards and more using the site Cardportal.com. Interestingly, as the card is not available to United States citizens at the moment, it will lose huge number of potential customers. However, the exchange plans to expand the service there.
To contact the reporter of this story: Deepak Tiwari at firstname.lastname@example.org