New Visa Prepaid Card Introduced by Shakepay

11:54 am, Wed, 21 April 21

Shakepay is a Canadian Bitcoin platform, based in Montreal, that allows its customers to buy, sell or send Bitcoin. According to the announcement made by Shakepay, a partnership has been formed with a card issuing platform called Marqeta. The partnership between the two platforms has been formed to launch a new Visa prepaid card for Shakepay customers.

Shakepay was founded in the year 2015 and it is now a leading platform to purchase or sell Bitcoin and other cryptocurrencies in Canada. According to the platform itself, Shakepay is among the top ten Canadian financial apps available on Apple App Store. Shakepay has also progressed with a 10 times year-after-year growth and offers its services to over 420,000 Canadian citizens. At present, the Canadian Bitcoin platform is reported to have more than CAD $2 billion in purchases and sales.

The new Visa Prepaid card offered by Shakepay and developed in association with Marqeta offers Bitcoin cashback to the customers at everything they purchase. The Shakepay card balance of the customers will be separate from the Bitcoin cashback received by them, while the cashback will be settled to the Shakepay Bitcoin balance of the users. Shakepay aims to facilitate its customers with the help of the new prepaid card, so that it is viewed as a separate complementary product for the Shakepay users. Customers of the Canadian Bitcoin platform can spend the Canadian currency on physical and virtual retailers with the help of the new Visa prepaid card. The digital wallets of Shakepay are multi-currency and enable the customers to make transactions in Canadian dollars, Ethereum and Bitcoin. These multi-currency digital wallets also make transferring balance and cashing out, easy and hassle-free for the users.

The development of the new Visa prepaid card is set to take the Canadian market and digital currency industry to an entirely new level, which can also pave new ways for potential investors and traders. People looking to invest in Bitcoin can visit SwissBorg, whereas, traders can visit ByBit to trade through a secure exchange.

Shakepay’s Partnership with Marqeta

According to the statement shared by Jean Amiouny, the CEO of Shakepay, the Bitcoin platform partnered with Marqeta as it was the only card issuer that seemed compatible with Shakepay and could meet the requirements. Shakepay aimed to offer an enhanced user experience and develop a prepaid card that complemented the Shakepay wallet. Marqeta’s flexibility is what caught the attention of Shakepay, the result of which, is a new and innovative card product in the Canadian market.

What to Know About Marqeta?

The Marqeta platform was founded in 2010 and is now a global modern card issuing platform that supports some of the leading visionaries around the world. Marqeta has provided its services of building highly configurable payment solutions and advanced infrastructures to some of the top companies. This card issuing platform is set up in 35 countries around the globe and issued more than 270 million cards by the end of 2020.

Salman Syed, the SVP/GM North America at Marqeta, stated that Shakepay and Marqeta are a great match as the “strong builder mindset” of Shakepay can help in bringing significant change in the Canadian market. The new Visa prepaid card can be seen as a bridge that connects the digital currencies with the traditional point of sale, enabling the cardholders to easily earn revenue from their cryptocurrency funds.

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