Mesh and Visa link wallet balances to card network

Mesh and Visa announced a partnership on October 19 to let participating wallet users pay in stores and online from crypto, stablecoin or fiat balances, using a Visa credential provisioned behind the scenes. Mesh says its system will handle funding and conversion at payment time, so users will not have to sell, transfer or preload funds first.

According to Mesh’s partnership announcement, the arrangement connects the balances people already hold in wallet apps to Visa’s merchant network. Visa says that network reaches more than 175 million merchant locations across over 200 countries and territories. The Block also reported the partnership and noted that launch details have not yet been announced.

What happens when a user pays from a wallet?

The wallet or platform first connects to Mesh, which coordinates the payment. At checkout, a Visa credential is used behind the scenes: the user can tap at a contactless terminal or pay online. Mesh then determines how to fund and convert the transaction from the supported balance. The merchant receives a standard payment, and Mesh says the checkout requires no new hardware or changes to the merchant’s existing process.

That makes the experience resemble paying with a card already connected to an account, though the balance can remain in a participating wallet until the purchase. The announcement does not specify the conversion route, fees, exchange rates or which individual crypto assets will be supported. It says the system can draw on supported crypto, stablecoin and fiat balances.

Who needs to build the payment connection?

Wallets and other platforms where people hold balances can enable the service through a single integration with Mesh, rather than building and operating their own card program, according to Mesh. Mesh says it acts as program manager and handles user onboarding and identity checks. That places Mesh between the platform holding the funds and Visa’s payment network, coordinating the steps needed to turn a wallet balance into a merchant payment.

The partnership is an announced connection, not a broadly available service yet. Mesh says initial availability, supported devices and participating platforms will be announced once rollout details are finalized. Until then, the key next details are which wallets join and how Mesh handles conversion for different balances. What has changed is that the partners have described a route from wallet-held funds to Visa checkout without requiring users to obtain a separate crypto card.

References

• Mesh’s partnership announcement — meshpay.com
• reported the partnership — theblock.co