“You’re telling me, I can just use my Visa debit card and buy stuff with my Bitcoin, Ether or even gold? Automatically, instantly with no balance transfers, asset sales or top ups???”
I’m paraphrasing, but this has been a pretty common conversation at Contis with many prospects and clients over the last year.
So, what is Buffer?
Buffer is the first of its kind in payments. In essence, Buffer is a secondary authorisation product that allows card transactions to be funded in real-time from a secondary source at point of sale.
Converted to fiat at point of sale, cards can be loaded with cash, gold, crypto, assets or even used as an alternative to an overdraft.
Since its launch, take up of Buffer (in many forms) has been incredibly high, and we’ve now had a number of clients go live with Buffer-powered propositions.
Contis is a white-label B2B BaaS platform, so it’s the difference to both our clients and their end customers that tells the real story here. These stories recently enabled Buffer to win “Best Innovation” at the Card & Payments Awards. The feedback from the judges was phenomenal as well – “this really answers the challenges in the industry” and “Contis is quite a way in front” were just a couple of highlights. So, what is this impact then?
Real World Impact
We know it’s not the whole story, but Buffer is a huge differentiator for so many of our clients in an increasingly crowded fintech space:
Binance, the world’s largest crypto exchange, use Buffer on their debit cards to enable frictionless crypto spending. Your crypto is instantly converted to fiat at point of sale, no manual top-ups or transfers. Your crypto is now a genuine currency, not just a volatile asset.
Hastee, the hyper-growth salary-on-demand provider, use it so their customer’s employees can now drawdown their salaries onto cards automatically in seconds and spend it frictionlessly, even before payday.
Bitpanda, Austria’s first tech unicorn (congrats!), have taken Buffer one step further and applied it to their whole trading platform. With Bitpanda, you can now spend stocks, crypto, metals, whatever you want.
I could go on and on with other client examples, but you get the picture.
With several clients currently onboarding, a lot of our work is confidential, but Buffer is already on the cusp of disrupting a number of other industries. From providing challenger banks with equivalent overdraft facilities; instant-access credit; insurers with emergency instant virtual card disbursements; and next-gen companion cards to financial organisations, there are multiple future use cases.
Crypto cards are just the start – the opportunity for companies that choose Buffer is almost limitless.
Head of Marketing, Contis