Wirex introduces new payment methods, SEPA Instant and Faster Payments

By Joy Dumasia

August 19, 2022

  • Crypto payments
  • Digital payments
  • Europe

Wirex, the crypto platform, has enabled users to top up and withdraw from their accounts by introducing new payment methods. The addition of SEPA Instant and Faster Payments will mean that customers in the UK and EEA will be able to more easily transfer pounds sterling and euros between their Wirex and bank accounts.

Wirex’s mission has been to enable everyone to access the benefits of crypto, and giving its 5 million customers complete control over the management of their funds is an essential part of that. Wirex has partnered with digital payment infrastructure provider, Modulr, to introduce popular deposit and withdrawal methods, SEPA and Faster Payments, to their UK and EEA users. In addition to the debit/credit card top-up method already offered, this will give customers more flexibility to choose how they wish to transfer funds to and from their Wirex account instantly and at no cost.

With even more ways to transfer funds, users can instantly start buying, holding, trading, or selling multiple traditional and crypto currencies from the intuitive Wirex app. Alternatively, they can then spend these currencies in everyday life at over 80 million locations worldwide using the Wirex Mastercard.

SEPA (Single Euro Payments Area) is a popular method for bank transfers and will provide an easy on/off ramp for Wirex users in the UK and EEA to transfer EUR directly between Wirex and their account banking. Each user activating a Euro wallet in the Wirex app can access a unique IBAN and BIC to transfer from their bank account to Wirex and send Euros to compatible bank accounts.

Faster Payments allows UK users to instantly send and receive GBP to/from their Wirex and bank accounts. A recharge method rarely offered by competitors, users will get their own unique sort code and account number from Wirex and can benefit from high transaction limits and zero fees.

Pavel Matveev, CEO and co-founder, said, “Providing additional choice and flexibility with the introduction of new top-up and withdrawal methods allows our Wirex users to manage their money. The UK and EEA regions make up the majority of our customer base, and with SEPA and faster payments widely used, we know this change will have a huge impact on them. »

Recently, IBS Intelligence reported that Wirex, a crypto and payment ecosystem, has expanded the Wirex Credit program to new regions and developed additional features. Their crypto-back credit lines are now available for UK users and have added WXT as a token to use as collateral.

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