Visa and Mesh announced a partnership to let users pay with cryptocurrency directly from mobile wallets at standard merchant terminals.

How the service will operate

Under the agreement, a consumer taps their phone on an NFC terminal and Mesh converts crypto holdings into a fiat payment in real time.

The merchant receives a conventional transaction and does not need to accept cryptocurrency or change existing point-of-sale infrastructure.

Wallets, scope and limitations

The service will use balances from connected crypto wallets, so users need to link a wallet rather than obtain a separate payment card for transactions.

Visa estimates a potential reach of 175 million merchant locations across its global acceptance network, reflecting the scale of possible rollout.

Availability and next steps

Details on launch timing, the list of supported countries and the specific wallets that will be compatible have not been disclosed by the companies.

Both Visa and Mesh said they will provide further information closer to commercial launch, pending regulatory and technical developments.