UPay Crypto Card Reviewed: Details

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UPay stands out as a promising crypto payment platform that enables users to seamlessly incorporate cryptocurrency into their everyday spending. In this article, we’ll walk you through everything about the UPay crypto card, from offerings, including its standout features, usage limits, and commitment to security and regulatory compliance.

Image source: UPay cards

Key Facts

Company	UPay Financial Technology Co., Ltd
Year Founded	2023
Headquarters	Dubai
Official Website	www.upay.com
Licenses	US MSB License (Registration Number: 31000257909666)Canada MSB License (Registration Number: M24993747)Hong Kong’s MSO
Card Currencies	USD, HKD, EUR
Recharge/Collateral Currency	USDT
Customer Support	EmailLive Chat
Best for:	Online and In-store crypto payments, as well as Crypto Savings

What is the UPay Card?

The UPay Card is an innovative financial product offered by UPay Financial Technology Company, based in Dubai. It is designed for cryptocurrency enthusiasts who want easy access to their digital assets. By integrating with both the Visa and Mastercard networks, UPay allows cardholders to spend cryptocurrencies effortlessly at over 50 million merchants and ATMs worldwide. The card eliminates the need for manual currency exchange by providing seamless real-time crypto-to-fiat conversion, making digital spending as simple as using a traditional bank card.

UPay cards come as prepaid crypto cards or crypto-collateralized cards. The prepaid versions require users to load crypto onto the card in advance, and convert digital assets to fiat currency at the point of transaction. In contrast, the crypto-collateralized cards provide spending limits based on the user’s crypto balance. They allow holders to maintain ownership of their assets and potentially benefit from price appreciation.

Fun fact: UPay scored the 2nd place in our “List of the Best Apple Pay Supported Crypto Cards to Watch in 2025” – check it out.

To obtain a UPay Card, users must sign up via the official website and download the UPay app. The app facilitates easy asset management and transaction tracking. Cards are issued to individuals aged 18 and above, with issuance fees varying by card type.

Pros and Cons of the UPay Card

Pros	Cons
Powered by Visa and Mastercard networks	Limited to USDT collateral and reload
Multiple card tier options	New card with few reviews
Multiple licenses guaranteeing security
Worldwide acceptance

Standout Features of the UPay Card

Crypto Collateral: UPay offers a crypto-collateralized card that allows you to leverage your cryptocurrency holdings without needing to liquidate them. Instead of spending digital coins directly, which could mean missing out on potential price appreciation, users access fiat spending limits based on the value of their crypto assets.
Instant Transactions: With the UPay card, users no longer need to sell their cryptocurrency on exchanges to obtain fiat currency. At checkout, the card automatically converts crypto into fiat, creating a seamless and instant transaction experience.
UPay Savings: UPay Savings is a fresh feature that offers a straightforward way to grow your crypto by earning guaranteed returns. Users lock in competitive APRs on BTC, ETH, USDT, and USDC through fixed-term savings. Upon maturity, the principal is automatically returned to your account, and can be accessed easily using your card.
Global Acceptance: UPay’s integration Visa and Mastercard ensures that the card is accepted at over 55 million merchants worldwide. Just like your regular fiat credit or debit card, the UPay card enables you to pay for taxi rides, dinner, shop at stores like Walmart, and pay for your day to day expenditure in more than 160 countries.
ATM Compatibility: The UPay Card offers a major advantage by allowing direct ATM withdrawals without the need to liquidate your crypto through an exchange. Fees for these withdrawals are competitive, with rates starting at 0% and reaching up to 3%, depending on the card tier. Plus, the card supports daily ATM withdrawal limits as high as $2,000.
Tap and Pay: The UPay card integrates effortlessly with major digital wallets and NFC-enabled payment platforms like Apple Pay, and Google Pay. Users easily tap their smartphones to make purchases at retail stores or online merchants that accept these methods. The inclusion of WeChat and AliPay further broadens its global footprint, ensuring seamless usage in key Asian markets.

UPay Card Categories

UPay doesn’t just stop at offering a simple crypto card; there’s so much more to explore. In this section, we’ll take a closer look at the full range of UPay cards and what each option brings to the table.

Virtual Cards

If you’re looking to make online purchases and payments using your digital coins—like for Facebook Ads, eBay payments, or subscriptions such as Netflix—UPay virtual cards are an excellent choice. These virtual cards function as prepaid cards, which means that your expenditures are directly deducted from your card’s crypto balance. The issuance of the card is instant once you complete the application and pay the corresponding fee. Just remember that KYC verification is a requirement. You can choose between the Stellar and Platinum cards, depending on your specific needs. Let’s break it down further below.

Stellar Card

The Stellar UPay card is a low-tier virtual crypto card designed for casual users. It supports a maximum balance of 50,000 USDT and offers a transaction limit of 20,000 USD per transaction. Issued in Hong Kong, this card benefits from zero transaction fees within the country and a low cross-border fee of just 1%. Eligible applicants must be 18 years or older, and the card comes with an issuance fee of 50 USDT.

Platinum Card

If you’re a high roller looking to spend big on crypto, the Platinum UPay card is the perfect match for you. With an issuance fee of just $10, it’s much more affordable than the Stellar card and supports up to 200,000 USDT. You can make transactions of up to 100,000 USDT without any fees within Hong Kong, while international payments come with a low 2% cross-border fee.

Physical Cards

Physical crypto cards are best for those looking to conduct ATM transactions or make in-store payments where a physical card is necessary. These cards come with a higher issuance fee than their virtual counterparts and are primarily powered by Mastercard. Physical cards are crypto-collateralized, meaning the spending limit is based on the user’s crypto balance, and collateral fees typically range from 1% to 2.5%, depending on the card tier. Users can select between the Precious Card or the Euro Card, based on their preference to transact in either Euros or HKD. A detailed breakdown is provided below.

Euro Card

The Euro Card is the entry-level physical card from UPay and offers an accessible option for those who prefer to transact in Euros. Similar to the Stellar card, the Euro Card requires a minimum recharge of 20 USDT and can hold up to 50,000 USDT at any given time. Despite the relatively low balance, the card offers a higher transaction limit of 50,000 EUR for spending. Issued in Europe, this card comes with zero transaction fees for purchases within the region and a competitive 2% fee for cross-border payments.

Precious Card

The Precious Card is the high-end crypto card offered by UPay, issued in the Hong Kong region. This premium card offers zero transaction fees within Hong Kong, but incurs a 3% fee for international transactions. To apply, users need to pay a 100 USDT application fee and an annual fee of 400 HKD. The key benefit of the Precious Card is its high transaction limits: it supports a balance of up to 200,000 USDT and allows users to spend up to 800,000 HKD (around 100,000 USD), making it a solid choice for those who want high flexibility in spending.

UPay Cards Comparison

Card Type	Virtual	Virtual	Physical	Physical
Name	*Stellar*	*Platinum*	*Euro Card*	*Precious Card*
Transaction Currency	USD	USD	EUR	HKD
Card Holding Limit	20 USDT to 50,000 USDT	10 USDT to 200,000 USDT	50,000 USDT	20 USDT to 200,000 USDT
Transaction Limit	0.00 USD to 20,000 USD	0.00 USD to 100,000 USD	1.00 EUR to 50,000 EUR	800,000 HKD
Issuance Fee	50 USDT	10 USDT	100 USDT	100 USDT
Transaction Fee	0.0%	0.0%	0.0%	0.0%
Cross-border Fee	1.00%	2.00%	2.00%	3.00%
Annual Fees	0.00 USD	0.00 USD	0.00 EUR	400 HKD

Is the UPay Card Secure?

The UPay Card implements strong security measures to protect user information and funds. It is fully compliant with major regulatory bodies, including FCA, MSB licenses in Canada and the U.S., and Hong Kong’s MSO regulations. Security during data transmission is ensured by 256-bit SSL encryption, and online purchases are further secured with 3D Secure technology, which utilizes OTP verification. KYC and AML protocols are strictly followed, reducing the risk of fraud. The platform also includes anti-fraud monitoring to track suspicious activity in real-time. Additionally, each card comes with a CVC2 code for secure transactions, and in the event of a lost card, users can easily lock it via the UPay app for immediate protection.

How to Apply for the UPay Card

Applying for the UPay Card is a straightforward process. First, ensure that you have an active UPay account. Once logged in, follow these simple steps:

Navigate to the “Card” section from the menu.
Click on “Apply Card.”
Review the available card options and choose the one that best suits your needs.
Click “Apply for Card” to proceed.
Verify that your UPay account has enough funds to cover the issuance fee for the card you selected, or add additional funds if necessary.
Complete the payment to initiate the registration process.
Fill out the application form with the required details.
Submit the form, and await confirmation. You will receive further instructions after your application is reviewed.

Final Verdict

The UPay card stands out as a reliable choice for anyone seeking a global crypto card. Despite a few limitations in terms of collateral options, its ease of use, vast acceptance across millions of merchants, and ability to convert crypto to fiat in real-time make it a strong contender in the crypto payment sector. Whether you’re a frequent traveler, an avid online shopper, or interested in crypto-backed loans, UPay offers a flexible solution that aligns with modern financial needs. Plus, exciting things are coming soon, like more collateral choices, a more powerful mobile app, and new global partnerships, with updates slated for 2025!

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