MasterCard Integration in XRP Wallet Announced
Date: 2023-11-30 Author: Dima Zakharov Categories: CRYPTO PAYMENTS
Integration of MasterCard in XRP Wallet
In a recent tweet, Vitsе Wind shared insights about the ongoing development to incorporate debit card functionalities into the Xumm wallet. The integration aims to introduce a MasterCard debit card feature within the XRP wallet, offering customizable limits and self-service options for users.
Enhanced Wallet Capabilities
The founder of Xumm emphasized the new addition's potential, allowing users to preload their wallets with $50 in XRP. However, clarifying queries from the XRP community, Wind highlighted that the Tangem NFC hardware wallet card wasn't designed for ATMs or terminals but rather serves as a physical safeguard for cryptocurrency assets.
Future Developments and User Queries
Responding to queries about linking credit cards to Xumm, Wind hinted at an upcoming project under development. Although Tangem cards are geared towards hardware self-service, Wind hinted at an impending integration bridging Xumm self-service and debit cards.
Fee Structure Controversy
Amidst the excitement, a user, John McClane, expressed concerns about the integration of debit cards potentially including a +1% additional fee. Citing Uphold, an American exchange's depositary solution already charging significant fees for debit transactions, McClane highlighted the financial burden on users.
Founder's Perspective on Fees
In response, Wind highlighted that by their nature, credit/debit cards encompass fees covering features like insurance, cashback, and generating substantial revenue. He asserted that these costs are recuperated through levied charges, signifying the need for alternative solutions.
Long-term Vision
Wind remains optimistic about establishing a distinct financial infrastructure, believing it to be profitable in the long run.
