In the hopes of assisting the financially unbanked and giving them access to financial services, fintech firm Zelf has launched an anonymous, reloadable Visa debit card. It can be used at any of Visa’s 80 million locations globally, according to this Cointelegraph article.
With only their name, email and phone number, users can open a U.S. dollar checking account. They can do this without having to provide official documentation, including a social security number or proof of residency. After opening the checking account, users also receive an anonymous virtual debit card that’s activated and ready to use with Google Pay and Apple Pay.
Additionally, with these Visa debit cards, users have a choice as to how they can fund their accounts. These can include traditional electronic payments, money and wire transfers, and even cryptocurrency. Currently, users can use Ether, Tether, and USD Coin to make their deposits into their debit and checking accounts.
Despite recent news, cryptocurrency is seeing a growth in adoption. Visa is also moving the needle forward when it comes to crypto adoption. In fact, Visa has filed trademark applications in order to manage digital, virtual, and cryptocurrency transactions.
Although cryptocurrency adoption continues to grow worldwide, regulators are not keen to accommodate this adoption without critical safeguards in place to protect both consumers and businesses. PaymentsJournal covered more on this subject here.
