FUTURE OF PAYMENTS REVIEW
Europe Trending Web3

Wert Collaborates With Worldpay to Enhance Inclusivity in the Web3 Ecosystem

Wert, a payment solution provider facilitating fiat payments in the Web3 space, has broadened its card acceptance capabilities in collaboration with payment processor Worldpay, encompassing the inclusion of JCB, American Express, and Discover cards within its integrated payment system. 

By accessing the extensive Worldpay network, Wert now supports JCB, Discover and American Express (Amex) cards for holders across 198 countries worldwide. By expanding its acceptance capabilities, Wert is continuing to promote greater levels of engagement from non-crypto native users.

Worldpay is an electronic funds transfer (EFT) system that enables customers to wire money around the globe. This provides seamless access into web3 for the estimated 121.7 million Amex cardholders, the more than 140 million JCB cardholders and the roughly 57 million cardholders Discover has.

Wert checkout solutions utilise a unique merchant category code that results in an approval rate of around 95 per cent for fiat payments. Meanwhile, the industry average indicates that 50 per cent of fiat-crypto transactions fail, according to Cointelegraph.

In fact, the firm also found that difficulties with fiat-crypto transactions led to a cart abandonment rate of up to 90 per cent, in a 2023 report.

George Basiladze, founder and CEO of Wert
George Basiladze, founder and CEO of Wert

George Basiladze, founder and CEO of Wert, explained the need for the collaboration: “This partnership with Worldpay marks a transformative milestone for the Web3 landscape.

“By facilitating near-universal card acceptance, we are advancing towards an inclusive ecosystem where digital assets can be accessed without barriers. This signifies a significant leap in accessibility and inclusivity within the Web3 realm. It’s a pivotal step forward in empowering users globally to engage seamlessly with the evolving digital economy.”

Ultimately, Wert aims to accept payments from virtually all major card brands to minimise purchase drop-offs due to declined transactions.

Enhancing the NFT checkout experience

Wert’s solutions cater to a more diverse and larger user base and hope to foster smoother, more efficient checkout experiences that contribute to an increase in on-ramp adoption into web3.

Expanding reach to JCB, Amex and Discover enables Wert to tap into niche markets as Amex’s popularity for high-value purchases, JCB’s dominance in Japan and Southeast Asia and Discover’s strong presence in the US enables Wert to tap into markets that were previously inaccessible.

By removing the barrier of unsupported cards, Wert also expects to see a significant boost in conversion rates, translating to increased sales and market penetration.

With its expanded payment options and unparalleled global reach, Wert is poised to elevate the NFT checkout experience. Creators can now confidently offer their works to a broader audience, while collectors can embrace the world of NFTs with greater ease and flexibility.

Author

Related posts

Transforming the Digital Payments Experience with Visa and Razer

Ania del Rosario

Top 10 ICOs to Watch: #9 Ephelants 360

Jason Williams

The 5 Most Important Things You Need to Know About Behavioural Economics

Mark Walker