Spend App in Real Time Converts Digital or Fiat Currencies, Transmits to POS via Spend VISA® Card and Launches “Lend By Spend” Visa Program
TORONTO, ON / December 11, 2018 / Spend announced today its introduction of the payment industry’s newest all-in-one alternative banking wallet application for users of cryptocurrencies and multiple fiat currencies. Effective immediately, customers in Canada may now sign up for the Spend Wallet and order a Spend Visa® Card. Customers in the US may now sign up for the Spend Wallet and register for the “Lend By Spend” Spend Visa® Card. The Spend Wallet offers users a multi-currency digital wallet that enables all funds held to have instant conversion capabilities to then preload local fiat currencies used at the point of sale (POS) on the Spend Visa® Card. Users can simply “tap”* their Spend Visa® Card and start spending fiat currency anywhere Visa® cards are accepted.
The Spend Authorization Engine (SAE) enables users to convert their funds of choice to the legal tender prior to performing a purchase. With the strength of Visa’s global payments network and the contactless* Spend Visa® Card, look, tap, and go is all you need to know.
“We are absolutely thrilled to be offering this degree of simplicity and flexibility to holders of crypto and other currencies,” says Bryan Woods, President, Spend. “Unlike wallet apps that require users to undertake multiple transactions to fund a prepaid card before completing a purchase, Spend users simply choose a fund source and tap their Spend Visa® Card. All of the hard work happens behind the scenes, giving a seamless user experience.”
Through its proprietary conversion system, the Spend Wallet has made all funds in a user’s wallet convertible and all fiat funds spendable anywhere in the world that accepts Visa®.
The Spend Wallet is a multi-currency digital wallet that offers a multitude of services built into the application. Users have the ability to convert all funds available on the Wallet to fiat-based currencies at POS with near instant conversion. The Spend Wallet app also allows users to exchange any supported currency with another, buy/sell virtual currencies with a linked bank account, securely send funds to over 180 countries, and more.
Spend is pleased to announce that it’s also enabling users, in select regions, with the ability to secure loans directly within the Spend Wallet instantly via the “Lend By Spend” Program. Users may then use those funds immediately on their Spend Visa® Card through the SAE. With this new program Spend offers US-based users the convenience of an on-demand Virtual Visa Card for immediate use.
Visit www.spend.com to register for a Spend account and download the free mobile app on the Apple App Store or on the Google Play Store.