Mercuryo launches open banking payment options in partnership with Volt

By Joy Dumasia

Mercuryo, a leading crypto payments company, has launched open banking payments within their cryptocurrency wallet, used by over two million global customers. The real-time account-to-account payments (A2A) will be facilitated by leading open payments gateway Volt and will provide Mercuryo wallet users, alongside their business partners, with single-click payment solutions via fiat.

The partnership signifies another milestone use case for open banking payments but also serves as a reminder of the growing demand and mainstream adoption of cryptocurrencies worldwide, with Mercuryo becoming one of the first crypto powered companies to incorporate open banking payments for consumers and businesses inside and outside of Europe. 

Alongside Visa, Mastercard, Apple Pay and Google Pay payment options, Mercuryo users will now be able to purchase cryptocurrency in real-time via an open banking account to account transfer, with the funds leaving their bank account and their purchased cryptocurrency being deposited directly into their Mercuryo wallet in a matter of seconds. 

This is likely to be welcomed by consumers looking to make swift purchases of cryptocurrency at a specific price and at a specific moment in time. Another advantage is an unlimited transfer amount, which many cards have implemented for customers on the purchase of cryptocurrency. 

Furthermore, with SCA requirements on card transactions coming into force on both sides of the English Channel, an extra security step has been added into the card payment process. Whilst many have welcomed this verification process, it’s likely to make Open Banking payments more desirable in the long run, offering a potentially swifter, safer and more convenient payment experience.

Mercuryo’s latest partnership with Volt follows their recent expansion into Latin America, with the business planning to open ten more regional offices in 2022 in Africa, South America and Asia. Since launching in 2019, Volt has fast become the leading open payments gateway globally whilst building and managing infrastructures for real-time open banking payments. Volt currently enables merchants and PSPs to process payment transactions between accounts held at more than 5,000 banks in the UK, EU and Brazil.

Petr Kozyakov, CEO of Mercuryo, commented: “We’re thrilled to be partnering with Volt, whom we share a very similar mission with to enable faster, more secure and more cost-efficient payment experiences. Incorporating open banking payment methods was a natural next step for Mercuryo, putting consumers back in the driving seat when it comes to making crypto payments whilst reducing the number of customer drop-outs for businesses due to previously lengthy bank transfer processes.” 

Jordan Lawrence, Co-Founder and CBDO of Volt, said: “This partnership represents a turning point in the relationship between FIAT currencies and Digital Assets. The ability to instantly take advantage of Crypto prices via a real-time payment transfer not only ensures price transparency and trust but encourages interoperability between currencies. Mercuryo are forward-thinking in everything they do, and this is a giant leap for user adoption of Open Banking and Digital Assets. Volt is really excited to join forces with Mercuryo.”