247exchange, a Belize-based bitcoin startup, has launched a new payment feature that allows users to withdraw bitcoins to their Visa and MasterCard credit/debit cards.
247exchange operates as part of InterMoney Exchange Corp, a licensed financial company regulated by Belize’s International Financial Services Commission, according to the company’s website. The fixed-rate exchange platform provides services in European countries including Germany, Austria, Switzerland, United Kingdom, Netherlands, Belgium, France, Italy, Spain, Poland – all in a variety of currencies. Recently, 247exchange launched a Russian version of its website.
The company introduced credit and debit card support in December 2014, allowing users to buy digital currencies in different fiat currencies online on the condition of identity and address verification. Card purchases have limits that start from $100 and increase when using the same card on the website for more than 15 days.
The new withdrawal option joins other functionality provided by the InterMoney Exchange group: bank transfers, digital wallets, and SEPA (Single Euro Payments Area) transfers. Before users can begin selling bitcoin, they need to go through a verification procedure.
As the company’s press release claims,
“In fact, this innovation of 247exchange not only offers smooth Bitcoin to fiat conversion; clients can also pay bills such as common utility bills with Bitcoin. The option can also be used by customers to make loan repayments.”
“It’s always been a headache for everyone to exchange his bitcoins to fiat money with minimal losses. If you look at the market, you’ll see that only few companies offer such service as withdrawing cryptocurrencies to cards. Maybe we’re not the pioneers, but we’re among the first ones. With our service Bitcoin becomes one step closer to real money. It’s never been so easy to transform bitcoin into USD, euro or another fiat currency”, Alexey Maximenko, CEO of InterMoney Exchange, says.
“We already offered our customers a solid choice of how to pay for bitcoins. And now we’re also expanding withdrawal options, because our mission is to create and provide the new standard of digital currency exchange service all over the world - fast, convenient, secure and available for everyone”,