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As a crypto banking platform, Striga’s main purpose is to simplify the payment process that has been unnecessarily complicated, expensive, and time-consuming.
Focusing primarily on building tech that moves money in a compliant manner without hassle, Striga’s card issuing platform enables neobanks, web3 apps, and crypto companies to issue customized virtual cards for payment to their end users.
What makes the card issuing process simple are partnerships and integrations with card networks and issuing banks, making it easier for clients to offer a well-rounded cards and payments service to their end users in a matter of weeks.
Simplifying Payments with Virtual Crypto Cards
A virtual payment cards program allows fintechs to build a payments platform tailored to the users’ needs.
Striga’s crypto banking service enables the full payment stack under one platform, including card issuing, management, and regulatory compliance checks. All that’s left is to integrate, test, and launch in six weeks.
What’s more, the simplified sets of APIs allow businesses to enable multiple use cases and features based on their user needs, such as card type, branding, and dynamic spend controls — for both crypto and fiat. The user-friendly dashboard helps businesses manage their card programs and controls better to prevent fraudulent payments and provide users with an optimal experience.
With virtual payment cards, users can make direct purchases just like they would with a traditional bank card. There’s no need to pre-fund the virtual debit card, as it’s already linked to the crypto account, allowing for a quick tap-and-pay function.
To increase user retention, crypto rewards cards can help users earn digital assets similar to cashback that can be traded or invested.
Should You Create a Virtual Payment Cards Program?
Before you launch a cards program, it’s crucial to understand your business model and user needs. Whether your business requires a virtual cards program depends on transaction types, payment volumes, methods, and regulatory requirements.
Next, consider the types of payments your end users need. Do they mostly use your platform for crypto to fiat on-ramp and off-ramp? Are they interested in trading cryptocurrencies? Are they looking to spend crypto on everyday purchases?
Our partner Bitrefill already provides virtual crypto cards to their users and took it up a notch by offering branded physical cards, allowing them to tap and pay for services and products.
Partnering with the Right Virtual Card Provider
Before you create a virtual debit card program for your users, here are a few things to note:
One, the payment system must match your business requirements. For example, if your business model requires an intuitive on-ramp and off-ramp platform and exchange wallets, ensure the provider’s tech capabilities are top-notch and can handle the required currencies.
Two, use the sandbox to test how well the APIs integrate into your products. Striga’s publicly available sandbox is free for building and testing your product until you’re ready to launch.
Three, ensure you get value for your money and no hidden charges. Transparency in the pricing structure is key. Working with a payments provider can be a long-term investment, so it’s best to understand the price breakdown before signing up.
Lastly, it’s also crucial to know how well-positioned the provider is regarding upcoming regulations. With the MiCAR deadline approaching, crypto companies need to partner with licensed providers to continue operating in the EU. A fully compliant provider should include a robust KYC/AML team that ensures clean client onboarding.
Once the selection process is complete, you are set to build and test your product.
Launch Virtual Payment Cards for Your End Users
Crypto payments can be made simpler and safer through virtual cards. With a single tap, users can make direct purchases without needing to pre-fund their cards.
With Striga’s APIs, you can create virtual debit card programs within six weeks.
First, design the card according to your branding guidelines, or work with our team, who can help you through the creative process.
Then, integrate via the card issuing API using the open documentation and public sandbox, allowing the APIs to handle the heavy lifting.
Manage your card program operations from the user-friendly dashboard, where you can oversee transactions, payments, card lifecycles, and more.
Finally, once everything is tested and ready, you can launch the fully branded virtual cards program for your end users.
Build, Test, and Launch with Striga
Striga’s partnerships with issuing banks and card networks provide you with an all-in-one crypto banking solution — without requiring any license at all. There’s no need to juggle multiple providers or navigate complicated compliance documents, as the KYC/AML integration streamlines the client onboarding process.
Access our free and publicly available sandbox to build and test your product.
Striga Crypto-native Banking as a Service:
Your path to building and launching financial products
Join the financial businesses that use Striga’s cloud platform to delight their customers and launch their own products without the complexities that come when dealing with core banking solutions’ relationships, licensing, compliance and payments methods.
