Kazepay Card

KazePay Visa Prepaid Debit Card Review: Fees, Rewards & Availability

Basic Information

KazePay is a Web3 payment platform that bridges the gap between digital assets and traditional payment systems. The KazePay Crypto Card enables users to convert cryptocurrency into fiat currency for everyday spending anywhere Visa is accepted.

Operated by METABANK INC (branded as "KazeFi"), a U.S.-registered Money Service Business under FinCEN (Company No. 20231581273), KazePay is part of the KAZEFI parent company, which operates in Hong Kong under INFI TECH (75447118).

Rewards and Benefits

⚠️ IMPORTANT NOTICE: Despite marketing materials suggesting cashback rewards, official representatives in the KazePay Telegram channel have confirmed they do not currently offer any cashback program. Users should not expect to receive the previously advertised 5% cashback on purchases.

KazePay's primary benefits focus on convenience rather than rewards:

• Multiple virtual cards under one account for budgeting
• Family sharing capabilities (though not a formal family plan)

Referral Programs

KazePay offers a referral system:

• Friends Referral Program offering "over USD $1,980" potential earnings
• 10% commission on referrals' usage
• No limit on number of referrals
• Brand Ambassador Program for influencers and community leaders

Fees and Limits

KazePay fees are structured around recharge (top-up) transactions and ATM withdrawals, with no fees charged on spending transactions themselves.

⚠️ IMPORTANT RESTRICTIONS:

• Virtual cards are for online transactions only and do not support ATM withdrawals
• Refunds to virtual cards are not guaranteed according to official FAQ
• Card balances are for spending only - once funds are moved from wallet to card balance, they cannot be withdrawn on-chain or transferred to other users

KazePay also offers an optional subscription:

• Free Plan: $0/month
• Pro Plan: $10/month or $99/year for advanced analytics and priority support

Card Tiers and Options

Both card options offer zero transaction fees on purchases and real-time crypto-to-fiat conversion at the point of sale. The virtual card (available in Silver and Gold tiers) is ideal for online purchases, while the physical card provides full functionality including in-person transactions and ATM access.

Top-Up Methods

Users add funds to the KazePay card by depositing supported cryptocurrencies (BTC, ETH, USDT, USDC) from an external wallet into their custodial KazePay app account, with no KazePay deposit fee (only standard blockchain network fees apply). There is no direct fiat top-up option—crypto deposits are required, and funds must move from self-custody to the platform's custodial wallet, transferring control to KazePay. Crypto is not pre-converted to fiat; instead, it is automatically and instantly converted to local fiat currency at the point of sale with a small spread on the exchange rate but zero transaction fees. Top-ups and card management are handled via the KazePay mobile app, and funds are available for spending immediately after blockchain confirmation. Minimum and maximum top-up amounts are not specified, but virtual cards have lower spending limits, and physical cards (with KYC) offer higher limits; users should note that only major cryptocurrencies are accepted and no fiat on-ramp is available.

Self-Custody Custodial

KazePay uses a custodial model, meaning users must deposit their crypto assets into platform-controlled wallets before they can spend with the card. While the app provides convenient features like virtual cards, real-time conversion at purchase, and privacy-focused options, users do not hold the private keys to their deposited funds. Instead, KazePay and its banking partners manage the assets, and users interact with their balances through the platform interface. If KazePay or its partners ceased operations, users could lose access to their funds since independent withdrawal is not possible. This approach simplifies spending and offers global reach, but it comes at the cost of self-custody and exposes users to counterparty risk. Users benefit from ease of use and integration with traditional payment rails, but must trust the platform to safeguard their assets.

Supported Currencies and Conversion

Cryptocurrency Support

KazePay supports stablecoin funding only:

• Tether (USDT)
• USD Coin (USDC)

These stablecoins are supported across multiple blockchain networks including:

• Binance Smart Chain (BSC)
• Solana
• Tron
• Base
• Arbitrum
• Aptos
• Avalanche

⚠️ IMPORTANT: Unlike some marketing materials may suggest, KazePay does not currently support Bitcoin (BTC) or Ethereum (ETH) for card funding. The platform is stablecoin-only (USDT/USDC).

Fiat Currencies

KazePay supports 15+ fiat currencies including:

• US Dollar (USD)
• Euro (EUR)
• British Pound (GBP)
• Japanese Yen (JPY)
• Australian Dollar (AUD)
• Canadian Dollar (CAD)
• Singapore Dollar (SGD)

The platform performs automatic conversion from crypto to local fiat currency at point of sale. The conversion process is instant, with market rates applied plus the recharge fee spread. The app displays both crypto balances and fiat equivalents for user convenience.

Geographic Availability

KazePay is available in 210+ countries worldwide, making the KazePay Crypto Card accessible to users across North America, Europe (EU/EEA), Asia, Latin America, Africa, and Oceania.

Restricted Regions

The following regions are restricted:

• Sanctioned territories: North Korea, Iran, Syria, Cuba, Crimea
• Russia (due to Visa/Mastercard suspension)
• Mainland China (due to local crypto regulations)
• Other OFAC-sanctioned regions

The card works anywhere Visa is accepted, though some countries may have local ATM or merchant limitations. Service availability is subject to local regulations and international sanctions.

Compliance and Security

Identity Verification

Current verification requirements for KazePay:

• Virtual Card (Silver/Gold): Currently no KYC required (email/phone only)
• Physical Card: KYC process required, including ID document verification and possibly selfie verification

Security Features

KazePay implements comprehensive security measures:

• Multi-Factor Authentication (MFA)
• Biometric authentication (fingerprint/Face ID)
• Real-time transaction notifications
• Card freeze/unfreeze functionality
• Know Your Transaction (KYT) monitoring

Security partnerships include:

• SlowMist for wallet address risk assessment
• Licensed banking partners for fiat handling

The custody model appears to be custodial, with multi-signature wallets mentioned in materials.

Regulatory Structure and Licensing

KazePay operates within a comprehensive regulatory framework:

• U.S. Registration: METABANK INC is registered as a Money Service Business (MSB) with FinCEN under Company No. 20231581273
• Hong Kong Operations: KAZEFI parent company operates in Hong Kong under INFI TECH (Company No. 75447118)
• EU Compliance: Compliant with EU 5AMLD/6AMLD anti-money laundering guidelines
• Banking Partnerships: Partners with licensed financial institutions for card issuance and fiat handling
• Card Network: Operates on Visa payment rails through authorized partnerships

The platform's tagline emphasizes its privacy-focused approach: "Privacy First Crypto Debit Card by METABANK INC."

Technical Details

KazePay operates through a combination of blockchain technology and traditional payment rails:

• Conversion Process: Crypto is converted to fiat in real-time at the moment of purchase
• Settlement Timing: Instant conversion at point of sale
• Exchange Rate Source: Market rates with recharge fee spread applied
• Currency Display: App shows both crypto balances and fiat equivalents
• Payment System Integrations: Standard Visa payment rails
• Supported Networks: BSC, Solana, Tron, Base, Arbitrum, Aptos, Avalanche

The platform functions as a bridge between cryptocurrency wallets and traditional payment networks, allowing seamless spending without users needing to manually convert crypto to fiat beforehand.

User Experience

The KazePay mobile app is available with platform-specific restrictions:

• iOS: Available on App Store (currently US region only; non-US users should use web app)
• Android: Available on Google Play
• Web App: Available for all users, particularly recommended for non-US iOS users

App features include:

• Real-time balance and transaction tracking
• Card management (freeze/unfreeze, view PIN, limits)
• Crypto wallet functionality
• Multiple card management (Silver/Gold virtual cards, physical cards)

Support channels include:

• Email support: [email protected]
• Official Telegram group
• Social media presence (Twitter/X, Facebook, Instagram)
• Priority support for Pro Plan subscribers

User feedback has been generally positive, highlighting easy setup, global acceptance, and transparent fees. Some negative feedback mentions desire for more premium perks and occasional shipping delays for physical cards.

Common limitations noted by users include:

• Stablecoin-only support (no BTC or ETH)
• No direct fiat on-ramp (must deposit crypto from external source)
• Lack of advanced spending analytics in the basic plan
• Virtual card refund reliability concerns
• Inability to withdraw card balances on-chain

Best Suited For

• Digital nomads and frequent travelers who need a globally accepted payment method without currency conversion hassles
• Stablecoin holders who want to spend USDT/USDC for everyday expenses
• Freelancers paid in stablecoins who need an easy way to use their earnings for everyday expenses
• Privacy-conscious users who prefer minimal KYC for virtual card usage (though physical cards require verification)

Pros and Cons

Pros

• Multiple virtual card tiers (Silver/Gold) under one account for budgeting and security
• Zero transaction fees on purchases with real-time crypto-to-fiat conversion
• Broad global acceptance in 210+ countries
• No proprietary token staking requirements
• Wide blockchain network support (BSC, Solana, Tron, Base, Arbitrum, Aptos, Avalanche)
• Virtual cards available without KYC

Cons

• Stablecoin-only funding (USDT/USDC) - no Bitcoin or Ethereum support
• Recharge fees: 1.8-2.2% (virtual), 2% (physical)
• ATM withdrawal fees: 2% + $1 minimum + operator fees
• Virtual card refunds not guaranteed
• Card balances cannot be withdrawn on-chain or transferred to other users
• No cashback rewards despite marketing materials suggesting otherwise
• Physical cards require KYC verification
• No direct fiat on-ramp (must deposit crypto from external source)
• Lacks premium perks offered by more established competitors
• iOS app limited to US region (non-US users must use web app)
• Potential shipping delays for physical cards in some regions

Conclusion

KazePay offers a specialized solution for stablecoin holders who want to use their USDT or USDC in everyday life without cumbersome conversion processes. The KazePay Crypto Card bridges the gap between cryptocurrency and traditional payment systems through its prepaid debit cards, which can be used at over 150 million merchants worldwide.

The platform's tiered virtual card system (Silver and Gold) provides flexibility for online spending without KYC requirements, while physical cards offer full Visa functionality including ATM access for users willing to complete identity verification. The zero transaction fees on purchases and broad global acceptance make it particularly attractive for digital nomads and crypto enthusiasts who hold stablecoins.

However, KazePay has significant limitations that potential users should carefully consider. The platform is stablecoin-only - despite some marketing materials suggesting broader cryptocurrency support, official documentation confirms that only USDT and USDC are accepted for funding. Recharge fees of 1.8-2.2% for virtual cards and 2% for physical cards apply to all top-ups, and ATM withdrawals incur an additional 2% fee plus $1 minimum. Critical restrictions include the inability to withdraw card balances on-chain and the lack of guaranteed refunds for virtual cards.

The discrepancy between marketing materials suggesting cashback rewards and official confirmation that no such program exists is concerning. Additionally, the iOS app is currently limited to the US region, requiring non-US users to rely on the web application.

For users who hold stablecoins and prioritize global spending flexibility with minimal KYC (for virtual cards), KazePay may provide value. However, those seeking to spend Bitcoin, Ethereum, or other cryptocurrencies should look elsewhere, and all potential users should carefully review the fee structure and restrictions before committing to the service.

Additional Information

Regulatory Considerations

KazePay operates in a complex regulatory landscape that varies by jurisdiction. The current no-KYC option for virtual cards is possible due to prepaid card regulations that allow limited anonymous use (particularly in the EU under e-money directives). However, physical cards require full KYC verification. The evolving nature of crypto regulation means that service terms could change over time, and users should stay informed about regulatory updates that might affect service availability or features.

Security Best Practices

While KazePay implements strong security measures, users should follow these best practices:

• Enable two-factor authentication
• Use unique, strong passwords
• Regularly monitor transactions
• Keep app software updated
• Use virtual cards for online purchases when possible
• Consider using different virtual cards for different merchants
• Be cautious about public Wi-Fi when accessing the app
• Remember that card balances cannot be withdrawn on-chain - only spend what you're comfortable having locked in the card system

Comparison to Traditional Banking

Unlike traditional bank cards, KazePay doesn't require a bank account, making it accessible to the unbanked or those in regions with limited banking infrastructure. The instant conversion from crypto to fiat at the point of sale eliminates the need to pre-convert funds, simplifying the process of spending stablecoins. However, users should note that crypto balances don't earn interest, there's no deposit insurance equivalent to what traditional banks offer (like FDIC or similar), and card balances cannot be withdrawn back to blockchain wallets once loaded.