Singapore, 17 September 2024 — Triple-A, a licensed provider of digital currency payment solutions, today announced its partnership with DCS Card Centre (“DCS”) that enables virtual account top-ups via digital assets for DCS cardmembers.
Now available via the DCS Cards App, the feature provides an option for DCS cardmembers to top up their DCS virtual accounts, named D-Vault, using digital assets.
The top-up amount immediately increases the card spend limit and can be used for bill repayments. Triple-A manages the crypto-to-fiat conversion and instantly reflects the transferred fiat amount in the cardmember’s balance in SGD. This process is fully operated by Triple-A, which is an entity licensed by the Monetary Authority of Singapore (MAS). DCS, a licensed credit and charge card issuer governed by the MAS under the Banking Act, does not interact with the digital assets.
“At Triple-A, we focus on bridging the gap between traditional and digital payments,” said Eric Barbier, CEO of Triple-A. “Our integration with DCS gives users an easy way to spend their digital currencies, while still seeing their balances in fiat right away.”
With over half a billion cryptocurrency owners globally and 24.4% of Singapore’s population holding digital currencies, the demand for crypto payment options continues to grow. Earlier this year, Grab, Southeast Asia’s leading superapp, introduced digital currency top-ups, also powered by Triple-A.
Lu Zhenwei, Managing Director of Commercial Cards, DCS, states, “Amid today’s dynamic payments landscape with ever-evolving customer needs, our partnership with Triple-A enables us to better serve customers seeking a seamless option for converting their digital assets into fiat, that can then be spent conveniently in the real world via their cards. As a licensed provider, Triple-A’s solution also provides the robust controls and compliance with regulatory standards that ensure the security of this feature.”
This integration ensures that DCS users are shielded from the volatility of cryptocurrencies, as their top-ups are immediately converted into fiat. The partnership reflects both companies’ commitment to delivering secure and cutting-edge payment solutions.
About Triple-A
Triple-A, the multi-licensed digital currency financial institution, enables businesses to pay and get paid in both traditional and digital currencies, volatility-free. By bypassing intermediaries and banking hours, we cut costs and enable fast, 24/7 global payments, easing cash flow for businesses worldwide.
Their white-label payment solutions blend smoothly into existing business operations while upholding the highest standards of compliance.
About DCS Card Centre
Established in 1973, Diners Club Singapore was among the founding institutions that launched the first series of charge cards and credit cards in Singapore. In October 2022, Diners Club Singapore was renamed to DCS Card Centre Pte Ltd (“DCS”) and aims to be an innovative fintech leader driving integrated payment and financial services while leveraging on their deep heritage.
By investing in technology and building strategic partnerships, DCS delivers new card products designed to suit the needs of diverse customer segments. DCS also develops ready-made payments solutions that can be seamlessly integrated with existing products in the market, helping to expand the business horizons of its partners while empowering end users.
DCS is a financial institution licensed to issue credit and charge cards, governed by the Monetary Authority of Singapore (MAS) under the Banking Act.
For more information, visit https://dcscc.com/
Media Contacts
Natalie Eng (On behalf of Triple-A)
Senior Partnerships & Marketing Manager
natalie.eng@triple-a.io
+65 8328 3199
Pooja Shah (On behalf of DCS Card Centre)
Senior Account Executive
pooja.shah@sprg.com.sg
Mobile: +65 8889 1321
Senior Account Executive
