Cashaa announced the launch of its credit and debit card functionality to allow users to securely buy Bitcoin, Ethereum and CAS. The service is enabled on all Personal and Business accounts all over the world excluding the USA.
"This functionality was constantly being asked by our existing personal users from more than 109 countries. There is no major wallet like Blockchain.info or Bitgo that are offering this service, while the ones who are offering it, are charging higher markup fees on Bitcoin.
Enabling this feature will allow our wallet users to buy crypto as an e-commerce experience without paying high fees within their multi-sig wallet. There will be no hidden or markup fees on Bitcoin price." - Kumar Gaurav, CEO
Existing industry average prices when buying through cards are around 9-12 percent which includes the card processing fee, platform fee and most importantly, a markup on Bitcoin price. Cashaa's card processing fee for European cards will be 4 percent while for non-EU cards, the fee will be 5 percent. Cashaa will also charge a service fee of 1.49 percent , which can be reduced to 0.75 percent for personal users and 0.40 percent for business users if paid in CAS tokens. Aside from cheaper and transparent pricing, users can also enjoy higher limits up to 10,000 Euros for card payments.
As Cashaa is focused on business banking services, they are also working on an API and plugin solution for exchanges and other wallets who are banking with them, to enable them the feature to sell crypto via debit or credit card to pass them the advantage of their cheaper fees.
For personal users, Cashaa currently has fiat wallets denominated in GBP and EURO, which users can fund in more than 200 currencies (ex. PHP, INR, SGD, SEK, EURO, GBP) around the world. Through the application, users can decide which wallet they want to fund, currencies other than EURO and GBP will be converted into EUR or GBP based on your selection during the deposit process.