MasterCard May Soon Be Integrated into XRP Wallet

Wietse Wind, the founder of XRPL Labs and creator of the Xumm Wallet, has hinted at a coming update to see debit MasterCard integrated into the XRPL wallet Xumm.

Debit MasterCard Coming to XRP Wallet

In a recent tweet, Wind disclosed ongoing efforts to incorporate debit card functionality with the Xumm wallet. He revealed working on the endeavor when an XRP enthusiast stated he craved to use his debit card with Xumm.

“Debit MasterCard, self custody, card authorization with custom on ledger limits on your account using a Hook,” the Xumm wallet founder said in response to the customer’s petition.

Working on this.

Debit MasterCard, self custody, card authorization with custom on ledger limits on your account using a Hook. https://t.co/BOlFKlddzx

— WietseWind (🛠+🪝 Xumm @ XRPL Labs) (@WietseWind) November 26, 2023

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This disclosure follows his earlier post about new functionality for Xumm-Tangem NFC hardware wallet cards. Wietse Wind noted the new addition will allow users to pre-fund their wallet card with $50 in XRP in addition to the account reserve.

Responding to queries from the XRP Army, Wind clarified that the Tangem NFC hardware wallet card is not intended for use at terminals and ATMs. Instead, it serves as a physical device for safeguarding cryptocurrency assets.

When asked about the possibility of linking credit cards to Xumm, Wietse Wind disclosed a future project in the pipeline. While the Tangem cards focus on hardware self-custody, he hinted at a forthcoming integration combining Xumm’s self-custody and debit cards. 

Will the Debit Card Feature Include Charges?

On the other hand, X user John Mcclain pleaded with the XRPL Labs founder that the debit card integration should not include the popular additional +1% fee.

Mcclain lamented that the custody solution of the U.S. exchange Uphold already charges a substantial fee for debit transactions. The commenter complained that additional fees can accumulate rapidly, leading to significant costs.

In response, Wind highlighted that the inherent nature of credit/debit cards involves fees, which enable features like insurance, cashback, and substantial revenue generation. He stated that those costs are covered by the fees charged, prompting the need for alternative solutions. 

Wind believes establishing an entirely separate financial infrastructure proves advantageous in the long run.