Industry: Web3 Exchanges
Use case: Creating fiat credit cards for cryptocurrency-holding clients
Having been at the forefront of the decentralised finance revolution, it only makes sense for Web3 exchanges to diversify the use of cryptocurrency beyond the digital world for their clients.
Naturally, one way for Web3 exchanges to do so is by issuing credit cards with the option to transact in fiat to their customers, which would increase the viability of their products and cultivate better customer stickiness and satisfaction— but how would they go about venturing into this option?
User Goals
Before we dive deeper, it is important to understand that Web3 exchanges’ goals are to:
Create customised card programs to meet their clients’ unique and changing needs.
Allow instant card usage, boosting customer loyalty with good user experience and convenience.
Serve clients from a diversity of regions with more flexibility and adaptability.
The Headaches
However, there are still some headaches to address beforehand.
With the ever-changing nature of the industry, Web3 exchanges have found it challenging to adapt to different regulatory frameworks; Web3 exchanges are also faced with limited settlement options, with either cryptocurrency or fiat only– Both of which inevitably hinder Web3 exchanges from accommodating a diverse customer base in today’s day and age.
Aside from their concerns, choosing the right sidekick when embarking on a new venture is also daunting– finding a Web3-friendly card issuing service and API partner proves to be an uneasy quest.
Unfortunately, exchanges often come across services with lukewarm customer and tech support, making it just that much harder for their tech teams to implement new features and for them to experience solutions that are truly catered to their industry and customers’ needs.
Having gone down the same road before, here is how Reap swoops in with our card issuing API .
The Reap Solution: Catalyst for Web3 Ventures
As a Web3-supportive card issuing service, Reap is more than a reliable service partner—we are the catalyst in helping the exchanges achieve their unique business goals.
With an ever-changing and sometimes even turbulent landscape, Web3 exchanges cannot afford to miss a beat. Reap is committed to providing a fast, simple, and efficient card-issuing solution so that our Web3 partners can remain competitive and keep their customers happy.
But there are plenty more reasons to choose Reap as the trusty sidekick. Take a look at what our highly customisable solution can also do for Web3 exchanges:
1. Flexible Settlement Options
Why limit yourself to either the digital asset space or the real world when you can have the best of both? Reap's solution empowers our Web3 clients and their end-customers by giving them the freedom to choose how they settle their repayments—whether in cryptocurrencies or fiat. The decision is entirely up to them, so that they would never be stuck in a “nickel.”
We prioritise our clients' freedom to choose how they handle fund flow with their customers. We accept both crypto and fiat as repayment forms, giving our clients the flexibility they need. It's all about providing options and empowering our clients to make their own decisions.
2. Global and Inclusive Card Coverage
No more getting held back by different constraints. With Reap’s solution, you can issue credit cards that are adaptable to fulfill the diverse needs of your wider-than-before customer base, anytime and anywhere!
3. Instant Card Usage
Who says cryptocurrencies are a hassle to use in the real world? Our Web3 clients can issue credit cards for their customers that are directly and instantly usable from their digital wallets, preventing unnecessary friction from having to move or convert funds for every card transaction. And just like that, a seamless integration between your digital asset space and the real world is born!
4. Comprehensive Integration, High Practicality
We are in it for the long haul. Reap’s API is intended for our Web3 clients to fully integrate into their own infrastructure, so they can truly reap the benefits of our solution in their everyday operations.
And the cherry on top? Lacking technical and customer support should never be our clients’ worry. Exactly because we’ve “been there, done that”— faced the same helplessness and struggles from processing data to card production— we genuinely empathise with our Web3 clients and vouch to be their strongest support system in this exciting endeavour.
Of course, we are also very proud of our card issuing API and want our clients to love it just as much. That’s why we work very closely with our Web3 clients and their tech teams to ensure seamless integration and maximum utility, and we just want to assure you that we’ve got you!