If you consider switching lanes to bitcoin transactions in Nigeria, worry no more.
On 29 Feb, a Nigeria-based firm, Patricia released what would be the first bitcoin ATM card to embrace the country. According to the founder, Fejiro Hanu Agbodje, the card will ease people in the usual transaction process, from paying daily utilities to monthly bills, and even subscribing to online services.
“We will allow you spend your bitcoin, anytime, everywhere and anywhere,” Agbodje said.
This card launching complements the bitcoin ATM which is already launched last year in December in the country. Blockstale, the company behind the ATM stated that it will be available for buying and selling bitcoin.
As a global initiative, Agbodje wants to realize the mass adoption of digital cryptocurrencies. “The thing about vision is that it should be ambitious and futuristic, but achievable,” Agbodje said.
“We understand that payments won’t (and can’t) change overnight and that there will be a long transitional phase before the world starts to fully transact in digital currencies.”
So what are the features of this brand new card, which can be used ‘in a swipe’?
The firm lets both old and new users perform instant cash withdrawal from their card or Naira wallets. Not only that, but users can also do the transaction from any ATM machine efficiently, and the ability to perform POS and web transaction. This is made possible thanks to the firm’s objective in creating a simplified, single entry-point for the card withholders, which cast aside the hindrance of delay and network issues in the front.
A distinct feature is Patricia wallet, which stores users bitcoin and can be used to transfer between the wallet users as well as saving their cash.
The company hopes that this card service will contribute to a more inclusive economy with its plans that reflect the need for customer-centric services and reaching new audiences from various markets and segments.
“That’s why we combine digital infrastructure with existing card processing and banking infrastructure,” Agbodje said.