Digital transformation is in full swing, enabling banking and fintech firms to leverage groundbreaking solutions and make their mark in the crypto space. Virtual card-supported white-label crypto banks have emerged as a compelling business model. The solution is pre-built, expedites time to market, and significantly reduces expenditures with card support for secure crypto storage and seamless payment.
White-label Crypto bank cards can be linked to bank accounts and other alternatives to serve distinct purposes like fund loading, gifting, or paying employees and contractors. They are a specialized solution developed with the guidance of a reputable white-label crypto wallet services provider. In this blog, we will highlight the benefits, features, and costs and specify the industries that can harness their full potential.
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According to Statista, the number of credit, debit, and prepaid cards increased by two billion to 25.2 billion between 2019 and 2021. This number is expected to grow by 21% between 2021 and 2025 before levelling off. Visa alone processed some 190 billion transactions in 2020. The segment presents a compelling opportunity that businesses can harness with trustworthy providers and boost their income.
Developing a white-label crypto banking cards offers significant benefits to businesses. Let us spotlight them in detail:
1. Save Big & Earn More
Why spend too much on development when you can save big? A white label crypto banking cards supported solution is a prefabricated solution that combines essential features within a single package. Every card swipe provides lucrative revenue streams to businesses.
2. Spend like Never Before
Enhance your purchase experiences by swiping the card at your favourite store. The solution enables users to convert digital assets into real-world spending power, establishing a link between the crypto world and daily purchases.
3. Fast Track Success
Why wait months or weeks to launch a wallet? The card enable solution accelerates your market entry by days, helping you enter the market much faster than your counterparts.
4. Experiences that Shine
The banking solution’s simple and intuitive design integrates to render branded experiences to different users. Users can manage their portfolios and track their assets hassle-free through it.
Virtual card-supported white label crypto bank consists of unskippable features that are unique and integrated to offer enhanced user experiences highlighted below:
White label crypto bank supports various card categories tailored to serve distinct user needs. The primary card categories have been discussed below:
1. Virtual Debit Cards : These cards enable fund spending via bank accounts or wallets. They are essentially used for daily transactions and online purchases.
2. Virtual Credit Cards : Virtual credit cards allow users to borrow money to a specific limit, which can be paid later.
3. Payroll Cards : Users can pay salaries directly to the employees through payroll cards. The solution has been introduced to empower businesses with complete control.
4. Virtual Fleet Cards : The cards can be used to pay fuel and maintenance expenses while empowering users with complete control and leveraging seamless card tracking.
5. Branded Virtual Cards : This category of virtual card-supported crypto-friendly banking solutions has been catered to specific use cases or customers, enhancing visibility and loyalty.
White label crypto banking card enables users tomanage their currencies responsibly. This helps them budget and prioritize their expenses. Here are some examples of how users can integrate the card into their daily lives:
The cost analysis of white label crypto bank with virtual card integration is influenced by several key factors. Here is the complete breakdown that you must know before developing a solution:
1. Feature Range
The number of features integrated within the banking solution impacts the overall cost. A solution with advanced features will be more costly than a basic one.
2. Development Team Size & Location Matters
The second component that impacts the pricing is the development team size and location. Hiring a team of freelancers will cost less than hiring an outsourced white label crypto bank services provider with no guarantee of quality and authenticity.
3. Complexity of the app
The cost of developing a simple application will be less than a complex one. The more complicated the application, the higher the price; the simpler the application, the lower will be the cost.
4. Customization Capabilities
The level of customization desired by the client affects the cost. Customization is performed in terms of appearance, logos and color themes to meet unique business needs.
5. Maintenance and Support
Ongoing maintenance, updates, and support services are essential for the continuous and secure operation of the crypto-friendly banking solution. The cost of these services should be considered when evaluating the overall expenses.
Share your requirements with a provider to get an accurate white label crypto bank virtual card estimate.
Embrace the potential of a virtual card-enabled white label crypto bank tailored to delight the. Avail of our unrivalled support, which saves you from the complexities that come with dealing with core banking solutions’ relationships, licensing, compliance, and payment methods and delivers a seamless and secure solution. Our solutions have benefitted several industries, such as:
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