Monday, July 15, 2019

US-Based Shift Debit Card Announces Closure After 4 Years Of Operation

The four years services of US-based Visa debit card called Shift Card will soon be ending as the company announced its closure, happening this year.

“We hope you enjoyed using the Shift Card and truly thank you for your loyalty. We, unfortunately, will be retiring the program in April of this year — All Shift Cards will officially be deactivated on April 11, 2019,” sent via email by shift financial.

Shift Will Soon Be Closing

The customers of US-based Shift Card that started in 2015 may have to choose another crypto-linked debit card as the company highlighted its future shut down in the market. According to the announcement via their sent emails to their customers, Shift Card will be shutting down its services in the upcoming spring, starting on April 11, 2019.

Don’t worry, your Shift Card will continue to work until that date. Feel free to email Shift support if you have any questions we’d be happy to answer — We hope to re-launch the program and issue new cards in the near future. Thank you for your patience.

Although this announcement is still not final as of now, the management of Shift Card explained that it is only temporary as they also plan to relaunch soon. However, for now, Shift’s customers may have to shift on other services.

Shift’s Line of Services

Interestingly, Shift Card is known due to its provided services that allow its customers to spend cryptocurrencies directly from their Coinbase‘s accounts. It is also an efficient mode of payment as the card has a VISA-partnered feature. Due to this, a lot of negative opinions were heard as the company announced its future shut down. Some even made assumptions on ‘why’ Shift card will be cancelling its services soon.

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Visa and Mastercard’s Fault?

According to murlidhara on Reddit, the shutting down of the debit card were due to Visa’s and Mastercard’s recent rise on its fees. As reported in Reuters, certain fees will be increased on the two major credit card holders as the companies prevent frauds in the financial world.

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Though the company didn’t conclude, they were still hoping without certainty for a re-launch soon with the newest set of debit cards.

Shift on Other Services

Still, other companies offering the same services are still available for Americans such as Bitpay Visa Card. Unfortunately, it does not have a direct link with the crypto company, but their services are now the only option.

People were pissed with the decision of Shift card but hope its great comeback soon.

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Elizabeth Jamie
Jamie Elizabeth is a Mass Communication Graduate from the Philippines, knowledgeable in the field of cryptocurrencies, blockchain etc., currently enjoying freelance writing, and able to write anything under the sun.
 

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