Payments Firm Simplex Becomes Visa Principal Member

Israel-based global fiat payment processor Simplex announced Tuesday it has become a principal member of the Visa network.

Dec 29, 2020 at 2:00 p.m. UTC
Updated Sep 14, 2021 at 10:49 a.m. UTC

Israel-based payments processor Simplex said Tuesday it has become a principal member of the Visa network.

  • Through the membership, Simplex now has permission to issue Visa cards, giving its consumers access to digital currencies daily.
  • “We’re excited to work with leading fintechs like Simplex [that] are helping to enable simple, secure and compliant conversions between crypto and fiat and the ability to spend these funds at Visa’s network of more than 60 million merchants,” said Cuy Sheffield, senior director and head of cryptocurrency at Visa.
  • Simplex launched its platform in 2014 allowing consumers to buy digital currencies with their credit cards.
  • Earlier this year, Simplex made Hedera Hashgraph’s native cryptocurrency HBAR available for purchase through its platform. 
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