Everyone in fintech is talking about crypto payment cards and Web3 payments. The promise is exciting: use digital assets anywhere. Just tap your card in a shop and settle instantly on the blockchain. Yet once you dig deeper, the picture is less straightforward. Are we genuinely creating a new payment system, or are we just adding blockchain to existing setups while keeping the same costs?
“Crypto cards may look innovative at the checkout, but behind the counter, the same intermediaries and fees remain.”
At first glance, a cryptocurrency payment card delivers a smooth journey. You walk into a café, tap your card, and settle the bill. Underneath, however, most schemes still run on Visa or Mastercard networks. This means interchange costs, acquirers, and issuers are still involved.
The set‑up usually involves:
So does this improve the user experience? Sometimes, particularly where wallets use stablecoin transactions for quicker settlement. Yet in many cases merchants still receive euros or dollars, while someone else absorbs the conversion risk.
Crypto debit cards are presented as bold challengers to banks. In practice, the difference is less dramatic. Traditional debit cards offer wide acceptance, quick balance updates, and consumer protections. Crypto debit cards integrate tokens, but clearing still happens through established networks.
The competitive angle is often about the visibility of digital assets or the novelty of paying in Ethereum or USDC. For businesses, the interest lies in customer retention and access to younger demographics. But merchants continue to face the same settlement timings and dependence on acquirers. The supposed gap between new rails and old rails is narrower than it may appear.
No conversation about cards is complete without looking at custodial vs non-custodial wallets.
|
Wallet type |
Control of keys |
User risk |
Merchant flow |
|
Custodial |
Third party |
Counterparty risk |
Traditional settlement in fiat |
|
Non‑custodial |
User |
Self‑management |
Off‑chain bridge or smart contract |
|
Hybrid |
Shared |
Mixed responsibility |
Flexible but complex management |
The right approach depends on how much control and convenience a user values, and on how a business wants to handle compliance.
We integrate stablecoins into real payment flows, simplifying conversion, reducing operational costs and improving transparency for your business.
If cards still mirror Web2 infrastructures, then where do Web3 payments show their true value? That is in DeFi payments and direct on‑chain settlement. Removing intermediaries reduces costs, especially for cross-border blockchain payments.
DeFi offers programmable flows, streaming transfers and composable settlement. Instead of hiding risk, it uses global stablecoin adoption for speed and predictability. The vision is not about bending tokens into old pipes, but creating new payment patterns.
International transfers and remittances offer the clearest use case. Sending €200 abroad through banks can cost €10 or more. With stablecoin payments, settlement is almost instant and costs can fall to a fraction of a cent. By pegging to currencies like the euro or dollar, volatility risks are reduced.
For businesses, especially in emerging markets, this is also a hedge against inflation and a way to reach new customer bases. Providers like Stripe and Circle support digital asset payments. They combine fiat on-ramps with the reliability of blockchain.
Still, adoption depends on regulation, liquidity and oversight. The rails are technically ready, but policy has yet to catch up.
The most promising field for blockchain payments is direct on‑chain merchant acceptance. Shops or online platforms could receive USDC directly into wallets via protocols like Superfluid. No issuers, no acquirers, no hidden conversions. Just clear crypto payment gateway solutions.
Key questions remain:
Some early movers already prove this can work, especially in online services and global marketplaces. For them, blockchain integration is not a futuristic concept but a daily transaction method.
“The real leap forward is not piecing two systems together, but rethinking how value moves without tollkeepers.”
At WislaCode Solutions, we work with banks and fintech organisations to test and refine these new Web3 payment models. Our teams assist institutions in exploring crypto debit cards. We design safe flows for stablecoin transactions and evaluate strategies for DeFi payments. We know the challenges of compliance, FX risk, and customer trust from years of experience in fintech development.
Our role is to reduce uncertainty. We run pilot projects, stress‑test blockchain payments, and build prototypes that show what works in real terms. We help clients move forward with custodial wallets that make things easier for users. Our on-chain merchant acceptance also cuts costs from transfers, avoiding the mistakes of old systems.
The goal is not hype but reliable architecture. We combine our banking knowledge with tech skills in digital asset payments. This helps clients make smart choices, safeguard their reputation, and thrive in the Web3 economy.
Viacheslav Kostin is the CEO of WislaCode. Former C-level banker with 20+ years in fintech, digital strategy and IT. He led transformation at major banks across Europe and Asia, building super apps, launching online lending, and scaling mobile platforms to millions of users.
Executive MBA from IMD Business School (Switzerland). Now helps banks and lenders go fully digital - faster, safer, smarter.
