Startup of the Week
We are constantly profiling innovative Startups with great ideas for the digital economy. Each week, we are going to present you the ones we find most exciting. We focus on their disruptive ideas, digital vision and business model.
Shift Payments is an interesting FinTech. The startup issues VISA debit cards that can be connected to a variety of accounts: from bank or customer loyalty accounts to bitcoin wallets. By combining cutting-edge cryptocurrency and other alternative payments methods with the tested and failproof VISA debit cards, Shift Payments makes tech-savvy financial transactions acessible to everyone.
To begin using a Shift Card, you must first open a user account at Coinbase, a bitcoin exchanged based in San Francisco. Then you must sign a cardholder agreement and connect the debit card to your Coinbase user account. The procedure is insured by a US$ 10 fee; for a limited time, Shift Payments charge no fees on domestic transactions.
The Shift Payment VISA debit card is accompanied by a mobile app. The app allows users to access the complete history of their expenditure, independent of the account from where the resources flew (e.g.: bank account or loyalty points account).
Meg Nakamura and Eugene Otto
Shift Payments allows you to use bitcoins on day-to-day financial transactions. By connecting your Coinbase's account to the VISA debit card offered via the Shift Payments' website, you will be able to use your bitcoins on any merchant equipped with a VISA machine.
Cryptocurrency for beginners: Shift Payments offer an user-friendly interface, i.e. a normal looking debit card, for financial operations in bitcoins
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