Visa Cards Update

Revision to merchant rebate benefit period

Jul 23, 2022

Since its launch in November 2018, the Visa Card has grown to become the world’s most popular crypto-linked card programme and is now available in over 60 countries. In an effort to ensure long-term sustainability of our card programme – with the primary purpose to enable cardholders to spend their crypto safely and easily – we are adjusting our merchant benefits program for select Card tiers. 

Revision of Merchant Rebate Benefits

Existing Jade Green, Royal Indigo, and Ruby Steel Visa Card users who activated their Card before 23 July 2022, 15:00 UTC will enjoy the merchant rebate benefits (Spotify, Netflix) available through their Card tier and subject to current conditions for six more months (until 23 January 2023, 15:00 UTC). Thereafter, cardholders will not receive CRO reimbursement(s) when spending with these merchant(s). Instead, cardholders will receive up to 2% back when spending with these merchants, depending on their Card tier. 

Private Members holding an Icy White, Frosted Rose Gold, or Obsidian Card will continue to enjoy their existing merchant rebate benefits.

For Cardholders Who Upgrade After 23 July 2022, 15:00 UTC 

For cardholders that upgrade their Card tier or CRO stake, they will enjoy the merchant rebate benefit(s) offered with the new Card tier for six months starting from the date of the upgrade. The extension of benefits when upgrading applies to all new and existing cardholders who are upgrading above their highest previously staked Card tier (please see FAQs for more details). 

Merchant rebate benefits will not expire after six months for cardholders upgrading to the Icy White, Frosted Rose Gold, or Obsidian Cards, for as long as the cardholder maintains one of these cards. 

Merchant Rebates for New Cardholders Will Be Valid for Six Months

Effective 23 July 2022 15:00 UTC, new Jade Green, Royal Indigo, and Ruby Steel Visa Card users will only be eligible for merchant rebates for the first six months upon card activation. Thereafter, the six-month rebate benefit will expire, and they will no longer receive the CRO reimbursements. This revision is applicable to all merchant rebates that cardholders are eligible for based on their Card tiers. 

Private Members with an Obsidian, Icy White, or Frosted Rose Gold Card will continue to enjoy merchant rebates without expiration. Find out more about the Private membership here. 

No Changes to Other Card Benefits

There is no change to other Card benefits, and cardholders can continue to enjoy up to 2% back on their spending. We are exploring new partnerships to unlock greater value and benefits for our cardholders, such as our recently announced partnership with Dosh—offering U.S. cardholders up to 10% in additional rewards at over 10,000 popular brands. 

For more information, visit the Card Rewards FAQs


  • In the event a cardholder downgrades their CRO stake or Card tier during the six-month merchant rebate benefit period, the validity period for the merchant rebate benefit(s) available on the new Card tier will not be extended.
  • The six-month rebate benefit for new cardholders who sign up after 23 July 2022, 15:00 UTC is only applicable for cardholders who have not canceled any Visa Card previously. However, if the new cardholder chooses to sign up for a higher Card tier than the highest tier they previously held, they will then get to enjoy the six-month rebate benefit based on the new Card tier. 



Merchant Rebates

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