Among the payment services that Kauri.Finance offers, there are virtual cards available for customers who have already verified their accounts as well as set up Web3 wallets. These are the cards that allow spending crypto and fiat funds through online/offline payments and ATM withdrawals like any other card issued by a traditional banking establishment.
There are two types of cards available: crypto and EUR. And our customers can have both.
How do the cards work?
EUR card is a standard fiat card that needs replenishment for purchases. It has its own balance and it is not linked to your EUR account. There are two ways for adding money to the card:
- debiting the funds right off the EUR account and refilling the card accordingly;
- through a swap transaction, meaning converting crypto currency and depositing the funds onto the card. The conversion is automatic, and when the swap transaction is initiated the converted from crypto to EUR funds settle on the card as depicted below:
Crypto card uses your crypto funds to pay for purchases. This card can be linked to different crypto accounts which are set according to the priority you desire to have, and if the first linked account does not possess enough funds to complete the transaction, the next prioritised account will be charged. To set the account priority tap/click the crypto card -> settings -> Cryptocurrency for payments -> Manage. See below: