CoinZoom, the US-based cryptocurrency exchange, recently announced that it has been accepted into Visa’s Fintech Fast Track Program. This new opportunity for CoinZoom will allow it to more easily become integrated into Visa’s network, which will help it accept payments with the Visa network, among other things.
In addition to other development opportunities, CoinZoom plans on offering its clients the ability to send funds via debit cards and the Visa network to their token wallets, in real-time. This represents a big upgrade in functionality and will allow them to deliver a better customer experience.
At the moment, CoinZoom has a Visa card that its US clients can use, which allows them to convert crypto to fiat, and use it with the Visa debit card at more than 53 million POS terminals and ATMs across the world. Visa has one of the most comprehensive payment platforms globally.
As a result of its joining the Visa Fintech Fast Track program, CoinZoom is planning to offer a new service, called CoinZoom Instant. Working with Visa Direct, CoinZoom Instant will give clients the ability to convert crypto to fiat, and send the funds directly to a debit card.
CoinZoom is Expanding its Offerings
Visa is one of the most important payment processors in the world, and with entrance into the Visa Fintech Fast Track program, CoinZoom will have the ability to develop many new tools for its clients.
Todd Crosland, the CEO of CoinZoom, commented,
“We’re excited to expand our money transfer services and launch CoinZoom Instant through this collaboration1 with Visa…Our customers can currently send fiat or crypto instantly to other users for free via our peer-to-peer transfer feature, ZoomMe, and now through our expanded collaboration with Visa, we will be able to provide a premier service to global customers in the peer-to-peer marketplace, that totals over $20T per year. Through the integration with Visa Direct our U.S. customers will be able to convert crypto and send their fiat to their eligible debit cards in real-time, as opposed to waiting 2-3 days for a bank wire. With CoinZoom Instant, customers will be able to easily send fiat or crypto from one account to another, one bank to another, or one country to another in real-time.”
People simply don’t want to wait a long time for money transfers to arrive, and now it looks like CoinZoom will be able to offer even faster tools to its customers, in both crypto and fiat terms.
Visa is Working to Make Crypto More Accessible
As one of the most influential payments platforms globally, Visa is in a good position to help new companies grow, and also stay competitive.
While established companies like Visa do have massive advantages in the market, there are good reasons to support smaller companies, and look into new ways to do things.
Terry Angelos, SVP and Global Head of Fintech at Visa told media,
“By joining Visa’s Fast Track program, exciting Fintechs like CoinZoom gain unprecedented access to Visa experts, technology, and resources…Fast Track lets us provide new resources that rapidly growing companies need to scale with efficiency.”
Platforms like CoinZoom are bridging the gap between fiat and cryptos, and also allowing its clients to access advanced services within the established financial system. In addition, it also offers great crypto exchange services to many people around the world.
With the addition of CoinZoom to its Fintech Fast Track program, Visa can expect to work with a solid company that has been able to secure a first-mover advantage in a growing sector that appears to be attracting attention from more entities in the established financial system.
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