A zeal to earn more crypto rewards prompted customers to prefer Mastercard Inc (NYSE: MA)
Gemini credit card and increase their spending. It is on the backdrop of Mastercard offering 3%
rewards in bitcoin for qualifying purchases since April 2021.
Mastercard’s Global Head (new digital infrastructure), Jessica Turner, said customers did not show
much enthusiasm three years ago than today for crypto rewards. The company is acting prudently to
involve more people in the crypto space safely.
Waitlist at 250,000 for Gemini Credit Card
According to CPO Noah Perlman, more than 250,000 people are on the waitlist to get Mastercard-
Gemini cards. The company does not charge any annual fee on the credit card and offers lucrative
rewards.
Gemini became an exclusive partner for Mastercard in April 2021 for the Gemini credit card. The
Gemini credit cardholders qualify for real-time cryptocurrency rewards besides improved security
features. Crypto rewards are instantly credited to the customer accounts.
The customers of Mastercard-Gemini credit card could also avail of customer service 24 hours a day
besides accessing world Mastercard benefits.
Gemini unveils its Mastercard branded credit card this summer for all the residents in the US across
all states. The deal between the two companies allows customers to enjoy 3% rewards in crypto for
dining, 1% on other purchase across the nation, and 2% on groceries.
Apple Inc (NASDAQ: AAPL) credit card is more popular compared to Gemini credit card. It commands
a user base of more than three million. However, only a few people on the waitlist would get a
Gemini credit card.
Earning crypto is now easier
Visa Inc (NYSE: V) partnered with BlockFi, a cryptocurrency financial tech company, to provide a
credit card for US residents in all states, excluding New York. The new credit card allows customers
to avail rewards for purchases in crypto.
It is the first credit card to offer rewards in bitcoin. Evolve Bank & Trust will issue the credit cards
with technology support by Deserve.
Visa offers 1.5% cashback on all purchases to the customers, who could convert rewards into crypto.
The customers can withdraw crypto every month safely from the BlockFi account. Unlike
Mastercard-Gemini credit card, Visa BlockFi credit cards holders need to pay an annual fee of $200.
Previously Fold and Coinbase introduced debit cards that offer crypto rewards.
