Wert, together with payment partner WorldPay, increase access to NFTs via credit card payment solutions
Wert, the payment solutions provider that enables fiat payments in Web3, announced today that their powerful NFT checkout tool has been upgraded to virtually authorize all NFT purchases with fiat payment methods such as credit cards.
Bridging the gap between traditional finance and decentralized finance (DeFi) tools by enabling fiat payments such as credit cards in Web3 is seen as a primary way to onboard the next billion crypto users. But just this month, it was reported that 50% of fiat-crypto transactions fail for reasons ranging from user location to merchant size. In comparison, Wert’s upgraded NFT checkout tool, supported by FIS’s WorldPay, now offers a whopping 95% payment approval rate for fiat transactions in Web3.
Unlike competing products, Wert’s NFT cash register uses a different merchant category code to ensure a higher approval rate. With a 95% acceptance rate for fiat payments such as credit cards, more customers can now purchase any NFT without their payments being rejected, thus enjoying a familiar e-commerce payment experience in the Web3 space.
“We have always believed that mass adoption of NFTs will happen quickly when blockchain technology is neatly placed ‘under the hood.’ said George Basiladze, CEO and founder of Wert. “Until now, the credit card acceptance rate for crypto transactions has been low – as not all banks will accept or allow these transactions, resulting in consumers being ‘out of luck’ and missing out on their purchases, making them feel untrustworthy about the technology. But now is the time to make NFT purchases no different from any other online purchase,”
By using Wert’s NFT checkout tool, businesses can offer their web3 products to a wider range of customers without compromising user experience through poor payment infrastructure. Wert’s NFT wallet works in 198 countries and all 50 US states, and supports Visa, MasterCard and ApplePay payments, meaning non-crypto users in these parts of the world can now buy NFTs and access Web3- area easier.
“Worldpay by FIS has been an innovator in the crypto payment space since 2013 and is delighted to have been selected by Wert to support their future growth. Wert offers a compelling proposition that enables the purchase of NFTs directly with fiat, making NFTs are more accessible to everyday consumers.” continued Nabil Manji, Head of Crypto at WorldPay. “As Worldpay from FIS increases its focus on the NFT sector, we look forward to an ongoing and strong partnership with Wert,”
Wert has served startups from the crypto space (web3 natives) such as Rarible, Mintable, Async Art as well as traditional brands such as Ebay, owner of KnownOrigin Marketplace. Wert is not just a technology company or IT startup, it is a virtual asset service provider (VASP) licensed in the EU and the US. Because of that, Wert can do what it does and on top offer crypto buying services as well.