Asia Pacific is at the forefront of the digital payments revolution, with the accelerated use of digital currencies as consumers and businesses conduct payments in a hyper-digitalized world. A partnership in Singapore opens new opportunities.
dtcpay, a digital payments solutions provider, and Visa, a world leader in digital payments have announced a partnership agreement to drive digital payments transformation in Singapore, according to a media release on Wednesday. This partnership aims to integrate dtcpay's digital payments capabilities with Visa's global payments network.
The first phase of the partnership will see the launch of the dtcpay Visa Infinite card that offers modern consumers a new seamless payment experience. Users will be able to convert their digital currencies such as stablecoins, into fiat currencies at competitive real-time rates.
The fiat currencies will then be used to fund their dtcpay Visa Infinite card and will be available for public registration in Q4 2024.
Partnering to Drive the Future of Digital Payments
Asia Pacific is at the forefront of the digital payments revolution, with the accelerated use of digital currencies as consumers and businesses conduct payments in a hyper-digitalized world.
With developments in payment methods and platforms enabling seamless commerce across borders, the digital economy in Southeast Asia is projected to hit $1 trillion by 2030, making Asia Pacific the epicenter of innovation and the leader in shaping the future of global commerce.
Bridging the Gap
The dtcpay and Visa partnership seeks to bridge the gap between traditional payments and digital currencies, enabling merchants to accept payments from this growing segment of UHNW customers.
Leveraging its blockchain and multi-currency swap capabilities, dtcpay customers can convert their digital currencies instantly into fiat, then use their dtcpay Visa Infinite card to transact at merchants, allowing businesses who would not have been able to accept digital currencies previously to access this group of consumers.
