dtcpay, a leading digital payments solutions provider, and Visa (NYSE: V), a global leader in digital payments, have announced a strategic partnership aimed at transforming the digital payments landscape in Singapore.
This collaboration seeks to integrate dtcpay’s innovative digital payment capabilities with Visa’s global payments network, granting users access to over 130 million merchants across more than 200 countries and territories.
The first phase of this partnership will introduce the dtcpay Visa Infinite card, offering consumers a seamless payment experience by allowing them to convert digital currencies, such as stablecoins, into fiat currencies at competitive real-time rates.
These funds will then be available for use with the dtcpay Visa Infinite card, which is expected to be available for public registration in Q4 2024. This card will cater to modern, tech-savvy consumers seeking flexibility in digital and fiat currency payments, further bridging the gap between digital assets and traditional finance.
Future phases of the partnership will involve the development of enhanced payment solutions targeting ultra-high-net-worth (UHNW) individuals, businesses, and consumers, broadening the scope and utility of digital currencies in mainstream financial transactions.
With Asia Pacific at the forefront of the digital payments revolution, the region is poised to play a pivotal role in shaping the future of global commerce. By 2030, Southeast Asia’s digital economy is projected to reach US$1 trillion, underscoring the importance of emerging digital currencies and technologies in everyday transactions.
This partnership between dtcpay and Visa seeks to empower businesses and consumers by providing access to seamless, cross-border commerce, making digital currencies a more practical option for day-to-day payments.
Through this collaboration, dtcpay’s blockchain and multi-currency swap capabilities will enable customers to convert digital currencies instantly into fiat. This allows businesses, which may not have been able to accept digital currencies previously, to tap into the growing UHNW customer base, expanding their payment options and driving new opportunities for growth.
dtcpay’s CEO and Co-Founder, Alice Liu, commented, “Our mission at dtcpay is to bridge the gap between digital payments and traditional finance, enabling emerging digital currencies to be integrated into mainstream financial systems.
“With Visa’s global reach and commitment to innovation, our partnership will provide a new digital payment avenue for businesses and individuals alike. We aim to drive greater mainstream acceptance for digital currencies, ensuring seamless transactions for all.”
Adeline Kim, Country Manager for Singapore at Visa, echoed this sentiment, stating, “Visa’s partnership with dtcpay reaffirms our commitment to fostering innovation within the payments industry.
“By leveraging dtcpay’s Web3 expertise and Visa’s global infrastructure, we are giving consumers and businesses the ability to convert digital currencies into fiat and make digital payments with ease. This collaboration will offer enhanced security, convenience, and choice to users, redefining their payment experience.”
To commemorate this milestone partnership, dtcpay and Visa will host an event titled “The Voyager: Tomorrow’s Payments, Today” during TOKEN2049, coinciding with dtcpay’s 5th anniversary.
Scheduled for September 18th at Lantern, this event will showcase the use of digital currencies in a gamified environment, offering participants a hands-on experience with token economics. Attendees will have the opportunity to win and exchange tokens for merchandise, grow their digital assets, and be rewarded through interactive games and quizzes.
This event not only celebrates the partnership but also highlights the growing relevance of digital currencies in everyday financial transactions, reflecting the ongoing shift towards a more digitized and inclusive global economy.
