Wirex has selected fintech firm Railsbank as its new card issuing partner for customers in the Asia Pacific (APAC) region.

The partnership is line with the swift migration of existing and new Wirex debit card customers away from the scandal-plagued Wirecard.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Wirecard was the former card issuing partner of Wirex in the APAC region.

Wirex noted that its customers in the APAC region will not be face any service interruptions as a result of this migration.

Customer’s account and card information will also remain the same and they will not have to transfer their funds to an alternate bank account, the company said.

Existing customers who already have Wirex cards will be automatically migrated to Railsbank.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Railsbank head of sales Louisa Murray said: “We are very happy to help with migration and especially pleased that it took less than 45 days to complete.

“It’s interesting that many companies are now coming to us with the same request, to migrate them onto the Railsbank technology platform.”

Commenting on the partnership, Wirex co-founder and CEO Pavel Matveev said: “Wirex’s new partnership with Railsbank reinforces our core goal of protecting existing customers’ funds, whilst continuing to innovate in a legal and compliant manner.

“Working alongside them allows us to continue empowering our customers to buy, hold, exchange and spend multiple traditional and cryptocurrencies whilst minimising the risk to their funds.”

Wirex leverages its payments infrastructure to bolster the adoption of cryptocurrency. It offers a crypto-enabled debit card with the ability to spend up to 20 fiat and cryptocurrencies at over 54 million locations worldwide.

Wirex, which has three million users in the region, hopes that the partnership with Railsbank will help it expand into new territories.