Saturday, January 28, 2023
  • ZELF has officially announced its latest feature. An anonymous Visa debit card that can be functional in any of Visa’s 80 million locations worldwide.
  • The main goal of Elliot was to make banking simple and shift from traditional banking systems. ZELF targets Gen Z by incorporating banking messengers online.
  • ZELF did partner with Visa due to its high-security functionalities. This enables the servers to store the little information collected securely, allowing users to rest easy knowing their hard-earned money is safely stored.

With news circulating on the Internet and the crypto ecosystem concerning sceptics who believe that the end of crypto is coming, they might want to rethink that notion. This year alone has seen a significant surge and downfall of crypto; fortunately, it is no new thing. Major key players such as Visa, Google Cloud and now even Netflix and Amazon have taken the initiative to turn to crypto for an added advantage. Currently, numerous organizations have options for crypto payment systems. This enables millions of crypto traders to spend their crypto coins directly. It alleviates the hassle of converting it back to USD or fiat currency. Fortunately, this has caused a chain of events, and now the American Fintech company ZELF has launched an anonymous Visa debit card that also incorporates crypto payment.

Thus, those individuals and sceptics who genuinely believe that crypto is ending may have to reconsider. Veteran crypto traders have survived many events that have caused far more damage. This isn’t new.

What ZELF stands for

Elliot Goykhman, a former VP, CIO, COO and Board Member of various banks, founded ZELF in 2017. The American fintech is a neobank focused on providing financial services to Generation Z. The main goal of Elliot was to make banking simple and shift from traditional banking systems. ZELF targets Gen Z by incorporating banking messengers online.

This allows them to access any financial service from their homes quickly. With the fourth Industrial revolution coming, more and more services will take a more digital route. Elliot understood that fact all too well. 

Also, Read Africa’s cash app, BitSika, is striving to reach the top.

ZELF has partnered with various social media platforms. They include; Facebook Messenger, Whatsapp, Telegram and Viber to create awareness of their services. In doing this, America Fintech has grown exponentially since its debut in 2017. In addition, the zeal for providing more accessible financial services has enabled its innovators to build a mechanism that incorporates blockchain technology.

ZELF&CRYPTO

ZELF, an American fintech, joins the crypto ecosystem by partnering with Visa to launch a new crypto payment system.[Photo/Coinscreed]

At the time of writing, it takes less than 30 seconds to receive a virtual Mastercard and an IBAN account when using its services. A feat that is sure to garner attention within this technological era. 

The primary motivation behind the American Fintech team is keeping it simple. Through this mentality and drive, ZELF acquired the functionalities of a unique AI-powered voice control system with outstanding capabilities. It allows users to request money, send invoices, checks account activity and many more activities.

According to Elliot, Gen Z will pioneer the new age of technology. Gone are the days you had to wait in line to use ATMs or bank outlets. With the consistent advancement and exposure of technology, GEN Zs are ushering in an age of messengers and virtual assistance. 

ZELF moves to crypto

From its goal, vision and drive, it was a matter of time before the American fintech dived into the crypto ecosystem. ZELF has officially announced its latest feature. An anonymous Visa debit card that can be functional in any of Visa’s 80 million locations worldwide. This initiative is the first attempt to establish a crypto payments service using Visa’s vast reachability.

According to American fintech, users can open a checking account and generate an anonymous virtual debit card. As such, this card can work with either Apple Pay or Google Pay within na matter of seconds. Holders of the Visa debit card will have the option of funding their accounts through a new crypto payment service. Their new invention will accept USDC, Tether and Ether payments. In addition, ZELF stated that adding at least 20 more crypto coins is underway.

Also, Read Yellow card: Nigeria’s leading fintech expands its African reach.

This initiative is a considerable step for the crypto ecosystem, especially with the current bear market. 

Aside from the crypto payment service, this new virtual card will allow users to open checking accounts with only their names, email and phone numbers. A considerable drop from the long and tedious process of providing various documentation such as a social security number and proof of address.

Wrapping up

The American fintech company is taking advantage of the limited attention span of Gen Zs. Nowadays, everything is shortened to allow users to focus on other aspects of life, and as such many traditional methods are steadily failing. According to Elliot, reducing verification requirements will attract more customers and aid the global unbanked population in accessing financial services. 

Despite this, ZELF did partner with Visa due to its high-security functionalities. This enables the servers to store the little information collected securely, allowing users to rest easy knowing their hard-earned money is safely stored.

Also, Read Africa: Cryptocurrency integration incentivizes fintech transition.

Although the recent trends, crypto payment systems are at an all-time high, many organizations are opting to add such functionality to their products. It may be a matter of time before every single service or product has a crypto payment button within their payment options.

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