Australia: CoinJar introduced Swipe Card

coinjarAustralian Bitcoin service CoinJar opened up its new service, the CoinJar Swipe Card, to the general public. Since September they tested the card. Yesterday they official launched the service at the Payment Innovation Conference in Sydney. With the new debit card service, CoinJar allow users to spend from Bitcoin accounts at over 800,000 retail terminals inside Australia as well as withdraw cash from ATMs.

In the invite-only trial, 51 users tested the Swipe system and spending AU$ 30,000 in that time. Datas from CoinJar shows that the most of the transactions made with the debit cards have been for everyday puchases at cafes, supermarkets and bars. Users with CoinJar Swipe “showed a significant increase in their overall transactional activity throughout the trial”, Samuel Tate, Marketing Lead, told CoinDesk. To use the debit card, users need to load it up with dollars before spending. An automatic loading feature is planned in the future.

Tate said:

“Digital currency is the future, but to make it useful right now it has to tap into the existing banking infrastructure. That’s why something like CoinJar Swipe is so important”

To use the Swipe card a initial fee of $29 is to pay but the company promised soon there would be no fees for activation or load. Yet, some ATM networks will charge a fee for cash withdrawals.

With shifting the global headquarters to London, the company is planning to launch its products, including the debit card, in the UK this year.

Facebooktwittergoogle_plusredditmailby feather

Leave a Reply