Mobilum Card

Mobilum Mastercard Debit Card: Multi-Currency Crypto-to-Fiat Spending Solution

Basic Information

The Mobilum Pay Card is designed to bridge the gap between cryptocurrency holdings and everyday spending. It functions through a custodial wallet system where users deposit cryptocurrency that is immediately converted to fiat balances (EUR, USD, or PLN) for spending anywhere Mastercard is accepted globally.

A credit card version has been announced as "coming soon," but currently only the prepaid debit option is available. The card features standard design with Mobilum branding, with no personalization options mentioned in official materials.

Rewards and Benefits

The Mobilum card focuses on utility rather than rewards:

• No Cashback Program: The card does not offer ongoing cashback rewards or crypto rebates on transactions
• No Staking Requirements: Unlike many competitors, there are no native token stake or lockup requirements to access features
• Promotional Offers: Occasional promotions such as one-time €10 cashback for new users after first top-up upon account verification
• Referral Program: Listed as "coming soon" in FAQ, but no active program confirmed
• Multi-Currency Support: Dedicated accounts and cards available for EUR, USD, and PLN
• Free Internal Transfers: Mobilum-to-Mobilum transfers in the same currency are free
• Multiple Cards: Users can have multiple cards (virtual and physical) under one account
• No Loading Limits: No explicit caps on how much can be loaded onto cards

Fees and Limits

Spending and Withdrawal Limits:

• No explicit daily spending cap advertised beyond card balance
• ATM withdrawal limits not publicly specified
• Users can set and change card limits in the app/Customer Panel
• No stated restrictions on number of transactions

Fee Collection Method:
Starting January 1, 2025, all fees (including card issuance, transaction, and maintenance fees) are deducted in real-time per transaction, whereas previously some fees were aggregated and billed monthly.

Card Tiers and Options

Mobilum offers a single-tier card program without premium levels or staking-based tiers.

The card program emphasizes accessibility and utility rather than tiered benefits. Users can have multiple cards under one account without extra fees, such as separate cards for different currency balances (EUR, USD, PLN).

Top-Up Methods

Users top up the Mobilum card by depositing supported cryptocurrencies (e.g., BTC, ETH, USDT, XRP, UNI, AAVE, and others) from an external wallet directly into their Mobilum custodial wallet via the mobile app. Upon deposit, all crypto is immediately and automatically converted to fiat (EUR, USD, or PLN) at Mobilum's exchange rate, with no option to hold crypto or time the conversion. While Mobilum does not charge a direct crypto deposit fee, network gas fees apply and the conversion rate includes a spread; top-ups via credit/debit card or open banking incur a 2% or ~0.99% fee, respectively. There are no explicit minimum or maximum top-up limits advertised, and funds become available for spending instantly after conversion, but custody of assets is transferred to Mobilum upon deposit. The process requires full KYC verification and must be completed within the Mobilum app; users cannot top up at the point of sale or spend directly from self-custody wallets.

Self-Custody Custodial

Mobilum Pay Card uses a custodial model in which users deposit their cryptocurrency into a platform-managed wallet, and all assets are immediately converted to fiat balances for spending. Users do not control the private keys to their funds at any point, and cannot hold or withdraw crypto once it’s deposited. All spending is done from the fiat balance managed by Mobilum and their regulated partners, making the process straightforward for global payments but removing the ability to independently access or recover funds outside the platform. If Mobilum or its partners ceased operations, users would not be able to access their funds without the platform’s intervention. This approach offers convenience, wide acceptance, and regulatory compliance, but comes at the cost of self-sovereign control and exposes users to the risks associated with relying on a single provider. Users should also note there is no explicit mention of deposit insurance, and customer support responsiveness has been a reported issue.

Supported Currencies and Conversion

Cryptocurrency Support

Mobilum supports a growing range of cryptocurrencies for deposit, including:

• Major Coins: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Tether (USDT)
• ERC-20 Tokens: Uniswap (UNI), Aave (AAVE), Ondo (ONDO), Jupiter (JUP)
• Other Networks: Zignaly (ZIG), Tron-based SUNDOG, TON, ARB, EURC, FLOW, MANA

New tokens are regularly added to the platform, as evidenced by their social media announcements.

Fiat Currencies

• Primary Balance Currencies: EUR, USD, PLN (with dedicated accounts/cards)
• Spending Supported In: USD, EUR, GBP, CAD, AUD, HKD, SGD, MXN, and others
• Global Transactions: Possible in any local currency worldwide (with 2.5% FX fee)

Conversion Process:

• Cryptocurrency is automatically converted to fiat (EUR, USD, or PLN) immediately upon deposit
• Conversion occurs at Mobilum's exchange rate (which includes their margin)
• No option to hold crypto in account or time the market
• No options to choose which cryptocurrency is spent first (all pre-converted to fiat)
• For non-base currencies, standard Mastercard rates apply for cross-currency transactions plus Mobilum's 2.5% FX fee

Geographic Availability

Mobilum is marketed as available in "almost every country with internet" but has specific regional details:

European Availability:

• Full support across the European Economic Area (EEA): Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Hungary, Iceland, Ireland, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden
• UK residents cannot use Mobilum despite not being explicitly listed (due to Brexit and need for UK FCA authorization)

Restricted Countries:

• Explicitly excluded: Russia, Belarus, Iran, Cuba, North Korea, Sudan, and Syria
• Availability outside EEA appears to be jurisdiction- and sanctions-screening dependent at onboarding

Regional Variations:

• ATM withdrawal fees differ between EEA (€2 + 1%) and non-EEA (€2 + 2%) regions
• Service is subject to compliance with local regulations and sanctions
• Mobilum reserves the right to restrict service in any jurisdiction due to regulatory changes

Compliance and Security

Regulatory Framework

Mobilum operates through multiple regulated entities:

• Mobilum Pay sp. z o.o. (Poland): Lending Institution RIP000584
• Mobilum Tech UAB (Lithuania): Virtual Currency Exchange Operator #306247099
• Mobilum Inc. (USA): FinCEN MSB #31000258001314
• No Limit Payments Ltd (Canada): FINTRAC MSB #M23423032
• Card Issuer Quicko: National Payment Institution (KNF IP52/2021)
• Parent Company: Mobilum Technologies Inc. is publicly traded on Canadian Securities Exchange (CSE: MBLM)

KYC Requirements:

• Mandatory verification before card issuance
• Required documents: Personal details, government-issued ID, selfie liveness check
• Possible additional verification: Proof of address, source of funds questions
• Re-verification may be required if documents expire or unusual activity occurs

Security Features

• Custody Model: Explicitly described as a "custodial wallet" where Mobilum holds and manages user funds
• Encryption: Protection of sensitive data
• Authentication: Multi-factor authentication (2FA)
• Biometric Security: PIN or biometrics for app access
• Transaction Protection: 3-D Secure for online transactions
• Card Controls: Freeze/unfreeze functionality
• Tokenization: Via Apple Pay/Google Pay integration

No explicit cardholder fund insurance is mentioned in official materials.

Technical Details

The Mobilum card operates through a custodial wallet system with several key technical components:

• Wallet Structure: Custodial wallet where Mobilum holds and manages user funds
• Conversion Mechanism: Automatic crypto-to-fiat conversion upon deposit
• Settlement Timing: Instant conversion to fiat with no option to hold crypto
• Balance Display: Shown in fiat currency (EUR, USD, or PLN)
• Card Technology: EMV chip and contactless payment capabilities
• Mobile Integration: Full support for Apple Pay and Google Pay
• Payment Processing: Standard Mastercard payment processing network
• Backend Infrastructure: "Banking-grade" infrastructure with planned enhancements

The technical architecture prioritizes immediate conversion and spending utility rather than crypto holding or investment features.

User Experience

Mobile App Features:

• Available on iOS and Android
• Virtual card issuance and management
• Real-time transaction notifications
• Balance tracking across multiple currencies
• Card limit controls
• Freeze/unfreeze cards
• Add cards to Apple Pay/Google Pay
• KYC verification process

Support Channels:

• Email: [email protected]
• Web form: support.mobilum.com
• Community channels: Discord server and Twitter/X
• No live chat or phone support mentioned

User Feedback:

• Mixed reviews on platforms like Trustpilot (2.5/5 score)
• Positive feedback centers on global acceptance, ease of obtaining virtual cards, and functionality working as advertised
• Common complaints include slow or unresponsive customer support, difficulties withdrawing funds, account freezes during re-verification, and technical issues with card declines

Fee Minimization Strategies:

• Use the card in its base currency (EUR, USD, or PLN) to avoid the 2.5% FX fee
• Consolidate purchases to minimize the per-transaction fee (€0.25/transaction)
• Use Mobilum-to-Mobilum transfers when possible (free within same currency)
• For ATM withdrawals, larger withdrawals are more cost-effective due to the fixed fee component

Best Suited For

• International Travelers who need to access crypto funds globally without bank transfers
• Crypto Earners who want to use their digital assets for everyday purchases without conversion delays
• Multi-Currency Users who need to manage and spend in different fiat currencies
• Businesses Exploring Crypto Payroll who need a compliant solution for employee payments
• Users Avoiding Staking Requirements who prefer utility over token-based reward tiers

Pros and Cons

Pros

• No staking requirements for card access or benefits
• Multiple cards available under one account (for different currencies)
• Strong regulatory compliance across multiple jurisdictions
• Global acceptance at all Mastercard locations
• Apple Pay and Google Pay integration for contactless payments

Cons

• Per-transaction fee on every purchase (€0.25/transaction)
• No cashback or rewards program to offset fees
• Custodial model only with immediate crypto-to-fiat conversion
• 2.5% foreign exchange fee for non-base currency transactions
• Mixed user reviews regarding customer support and withdrawals

Conclusion

The Mobilum Pay Card successfully bridges the gap between cryptocurrency holdings and everyday spending through its Mastercard-powered debit card solution. Its strongest features are its global reach, multi-currency support, absence of staking requirements, and regulatory compliance across multiple jurisdictions.

Unlike competitors that require users to stake native tokens for benefits, Mobilum focuses on utility and accessibility, positioning itself as a straightforward solution for both individual crypto users and businesses seeking crypto payroll solutions. This approach makes it particularly valuable for international users, frequent travelers, and those seeking a simple way to utilize crypto assets in daily life.

However, the card's fee structure—particularly the per-transaction fee and absence of cashback—may be a drawback for frequent spenders. Additionally, customer support responsiveness and fund withdrawal processes have been pain points for some users, suggesting the service is still maturing as a financial product.

The ideal Mobilum user prioritizes global utility and compliance over rewards—someone who wants to spend their digital assets without the friction of exchange-to-bank transfers and values the ability to use crypto for everyday purchases worldwide.

Additional Information

White-Label Platform

Beyond its consumer card, Mobilum offers a white-label platform for co-branded cards. Examples include:

• ZIG Card for Zignaly token holders
• Core Crypto Card

These partner programs may have different reward structures or token-specific benefits not available on the standard Mobilum card.

Upcoming Features

Mobilum has announced several future capabilities:

• Credit Crypto Card (Mastercard)
• Referral Program
• Non-custodial DeFi-integrated wallet
• "Banking-grade" infrastructure enhancements
• Bitcoin banking suite with interest-earning (DeFi yields) and Bitcoin-backed loans

The platform continues to add supported cryptocurrencies and release regular app updates for security and functionality improvements.