In a move to promote the widespread adoption of Web3, Wert, the payment solution provider facilitating fiat payments in the Web3 space, has broadened its card acceptance capabilities in collaboration with Worldpay, a globally recognized payment processor.
This expansion encompasses the “inclusion of JCB, American Express (Amex), and Discover cards within the integrated payment system.”
Wert emerges as a Web3 frontrunner, “spearheading accessibility through its NFT checkout solution and reshaping the Web3 arena with a steadfast commitment to smooth transactions.”
This expansion holds significance, promoting broader engagement “from non-crypto native users and nurturing inclusivity in the dynamic Web3 space.”
Worldpay is an electronic funds transfer (EFT) system “that allows customers to wire money around the globe.”
Through its extensive network, Wert now “supports JCB, Discover and Amex cards for holders in a staggering 198 countries.”
This provides seamless access “into web3 for the estimated 121.7M Amex cardholders, the more than 140M JCB cardholders and the roughly 57M cardholders Discover has. Wert’s innovative checkout solutions utilize a unique merchant category code that results in a 95% approval rate for fiat payments while the industry average indicates that 50% of fiat-crypto transactions fail for a number of reasons that include user location and merchant size,” according to available research.
Additionally, the report found “that difficulties with fiat-crypto transactions lead to a cart abandonment rate of up to 90%.”
The key benefits that position Wert at “the forefront of Web3 accessibility include a checkout solution that accepts payments from virtually all major card brands to minimize purchase drop-offs due to declined transactions and an unmatched card acceptance. These solutions cater to a more diverse and larger user base and foster smoother, more efficient checkout experiences that can 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, allows Wert to tap into lucrative markets that were previously inaccessible.”
By removing the barrier of unsupported cards, Wert anticipates a significant boost in conversion rates, translating to increased sales and market penetration.”
George Basiladze, Founder and CEO of Wert, said:
“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.”
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.”
Founded in 2020, Wert is a fintech company that “has pioneered the payment technology application in the Web3 space by offering consumers a seamless credit card checkout experience when buying NFTs directly from smart contracts.”
For Web3 projects, Wert provides industry projects “from NFT marketplaces to DAOs with the ability to offer a more consumer-friendly approach to purchasing digital assets through fiat currency.”
Wert says that it is “a regulated VASP with licenses in Estonia and USA and is fully compliant with the 6th AMLD and BSA.”