Gnosis Pay Visa Debit: Self-Custodial Crypto Card with Up to 5% Cashback

Basic Information

The Gnosis Pay Card is the world's first self-custodial Visa debit card linked directly to a Safe smart account on the Gnosis Chain blockchain. This innovative card allows users to spend cryptocurrency directly from their blockchain address at any Visa-accepting merchant worldwide, with no transaction, gas, foreign exchange, or off-ramping fees.

What sets the Gnosis Pay Card apart in the crypto card market is its truly self-custodial nature - users maintain control of their private keys and assets through a Safe wallet on the Gnosis Chain, unlike most competitors that require depositing crypto into custodial accounts.

Rewards and Benefits

Cashback Structure

The Gnosis Pay Card offers a tiered cashback system based on GNO token holdings in the user's Safe wallet:

• Base Card (No GNO): 0% cashback
• Tier 1 (≥0.1 GNO): 1% cashback in GNO
• Tier 2 (≥1 GNO): 2% cashback in GNO
• Tier 3 (≥10 GNO): 3% cashback in GNO
• Tier 4 (≥100 GNO): 4% cashback in GNO
• OG NFT Bonus: Additional 1% cashback (up to 5% total)

All cashback rewards are:

• Paid in GNO tokens
• Calculated based on minimum GNO balance held during each week
• Delivered weekly directly to the user's Safe wallet
• Subject to a spending cap of €20,000/£18,000 per 4-week period

Certain transaction types don't earn cashback, including ATM withdrawals, financial services, tax payments, utility bills, insurance, and money transfers.

Referral Program

Gnosis Pay offers an attractive referral program:

• For New Users:

  • Free card (€30 issuance fee waived) when using a referral link
  • €10/£10 in stablecoins after spending €50/£50 with the card

• For Referrers:

  • OG NFT holders: 40 stablecoins (€/£) per successful referral
  • Non-OG users: Earn OG NFT by referring 2+ successful users

The OG NFT is a "soulbound" (non-transferable) token that provides permanent status benefits, including the additional 1% cashback and early access to new features.

Fees and Limits

The Gnosis Pay Card stands out for its transparent and minimal fee structure. Users pay virtually no fees during normal card usage, with the only potential costs being the initial issuance fee (which is frequently waived through promotions) and ATM withdrawal fees if exceeding the generous monthly allowance.

There are no hidden costs for currency conversion, transactions, or account maintenance. When making purchases in foreign currencies, the card uses Visa's standard exchange rates without adding any markup, providing significant savings for international travelers.

Card Tiers and Options

All card tiers share identical spending limits (€8,000/£8,000 daily), withdrawal limits (€500/£500 daily), and the same black/neon yellow physical design with optional ENS name personalization. The only physical card is issued to all users, with no premium materials or design differences between tiers.

The cashback percentage scales proportionally between tiers. For example, holding 5.5 GNO will earn approximately 2.5% cashback. This sliding scale provides incrementally better rewards as users increase their GNO holdings.

The OG NFT status can be combined with any tier to provide an additional 1% cashback, up to a maximum of 5%. This NFT is earned through the referral program by successfully referring at least 2 users who complete KYC and card activation.

Top-Up Methods

Self-Custody True Self-Custody

Supported Currencies and Conversion

The Gnosis Pay Card currently supports a limited selection of cryptocurrencies:

• EURe: Euro stablecoin on Gnosis Chain (for users in EEA, Switzerland, and Gibraltar)
• GBPe: British Pound stablecoin on Gnosis Chain (for UK users)
• GNO: Gnosis token (for rewards only, not direct spending)

These stablecoins are e-money tokens issued by Monerium, a regulated e-money institution. The card does not directly support any other cryptocurrencies for spending; users must manually convert other assets to EURe/GBPe before they can be used with the card.

The conversion process works as follows:

1. User loads EURe/GBPe stablecoins to their Gnosis Safe
2. When the card is used, the exact amount needed is automatically converted at the time of purchase
3. No pre-conversion is required - assets remain as crypto until spent
4. No conversion fees are charged - users only pay minimal gas fees for blockchain transactions
5. Transaction settlement occurs on-chain on Gnosis Chain, typically within seconds

For users wanting to spend other cryptocurrencies, they must first manually swap them to EURe/GBPe using DEXs or bridges. The Gnosis Pay web app supports converting tokens from any EVM chain to the supported stablecoins through integrated bridging functionality.

Geographic Availability

The Gnosis Pay Card is currently available in 32 European countries:

• Western Europe: Austria, Belgium, France (including territories), Germany, Ireland, Italy, Luxembourg, Netherlands, Portugal, Spain, Switzerland, United Kingdom
• Northern Europe: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, Sweden
• Eastern Europe: Bulgaria, Croatia, Czech Republic, Hungary, Poland, Romania, Slovakia, Slovenia
• Southern Europe: Cyprus, Greece, Malta
• Other: Liechtenstein

Users must be at least 18 years old and provide valid proof of address in a supported country during the KYC process.

The card cannot be used in restricted countries due to international sanctions and regulations, including: Afghanistan, Belarus, Central African Republic, Crimea, Cuba, Darfur region, DR Congo, Haiti, Iran, Iraq, Lebanon, Libya, Mali, Myanmar, Nicaragua, North Korea, Russia, Somalia, South Sudan, Syria, Venezuela, Yemen, and Zimbabwe.

Future expansion plans include:

• Americas: USA, Brazil, Argentina, Mexico, Colombia
• Asia-Pacific: Australia, Thailand, Singapore, Japan, Indonesia, India

There are regional variations in the card's functionality:

• EUR cards for EU/EEA residents (uses EURe stablecoin)
• GBP cards for UK residents (uses GBPe stablecoin)
• IBAN feature currently limited to EU cardholders of certain nationalities

Compliance and Security

Custody Model

The Gnosis Pay Card implements a true self-custodial model, which is its primary security feature and differentiator from other crypto cards:

• Users maintain full control of their private keys
• Assets are stored in a Safe smart contract wallet that the user owns and controls
• Gnosis Pay never takes custody of the user's funds
• User authorizes transactions through their connected wallet
• Smart contract interface bridges between Safe wallet and card transactions

This self-custodial approach significantly reduces counterparty risk compared to centralized alternatives where users must trust a third party with their assets.

KYC Requirements

To comply with regulatory requirements, Gnosis Pay implements a comprehensive KYC process:

• Provider: Sumsub
• Required Documents: Government ID, proof of address, selfie liveness check
• Process: Digital verification through web app during card ordering
• Restrictions: Must be 18+ years old and resident in supported country
• Information Sharing: Verified identity shared with Monerium for IBAN issuance

From a regulatory perspective, the card operates within a robust framework:

• Card Issuer: Monavate Limited, authorized and regulated by the UK Financial Conduct Authority as an Electronic Money Institution (FRN: 901097)
• Stablecoin Issuer: Monerium, regulated by the Central Bank of Iceland for e-money issuance
• Card Network: Visa Europe provides BIN and network access
• Compliance Standards: Follows EU/UK electronic money regulations, GDPR, and AML standards

Security features include:

• EMV chip and PIN protection
• Contactless with 5-tap limit before PIN required
• No magstripe transactions supported (security measure)
• 3D Secure for online purchases
• Card freeze/unfreeze capability
• Transaction monitoring
• Safe smart contract security architecture

Technical Details

The Gnosis Pay Card is built on sophisticated blockchain infrastructure:

• Blockchain: Gnosis Chain (formerly xDai), a fully EVM-compatible Layer-1 blockchain
• Wallet Infrastructure: Gnosis Safe smart contract wallet created for each user
• Transaction Processing:
  1. User makes purchase with card at merchant
  2. Visa network processes authorization
  3. System checks Safe balance and reserves stablecoins
  4. Merchant receives fiat payment via Visa's standard settlement
  5. Transaction settled on Gnosis Chain within seconds

This technical architecture creates a seamless bridge between traditional payment rails and blockchain technology. When a user makes a purchase with their Gnosis Pay Card, the transaction is processed through the Visa network like any normal debit card transaction. Behind the scenes, the equivalent amount is deducted from the user's Safe wallet on Gnosis Chain.

The system handles all gas fees and abstracts away the complexity of blockchain transactions, making the experience feel like using a standard debit card while maintaining the benefits of self-custody.

For integrations, the card works with:

• Zeal Wallet: Provides integrated management and auto-recharge features
• Google Pay: Currently supported for mobile payments
• Curve: Can be used as a workaround for Apple Pay before native support

User Experience

The Gnosis Pay Card offers a web-based interface (app.gnosispay.com) that is mobile-responsive but does not currently have a dedicated native app. Through this interface, users can:

• Order and activate their card
• Monitor balance and transaction history
• Manage their Card Safe wallet
• Top up funds (via crypto or IBAN)
• Track rewards
• Manage referrals

The card has received strong ratings in comparative analyses, ranking as the #2 crypto card overall and #1 among non-custodial crypto cards specifically. Customer service is rated exceptionally well at 9.8/10, significantly outperforming the industry average of 7.6/10.

Users particularly appreciate:

• Seamless everyday use ("works like any Visa")
• No off-ramp hassles or fees
• Self-custody security
• Generous cashback program
• Responsive support team

However, some challenges have been noted:

• Initial setup complexity and bridging learning curve
• Limited spending options (only stablecoins)
• Delayed Apple Pay integration
• Some confusion during the top-up process

Practical limitations include the inability to use the card for rental cars or at automated fuel dispensers, which could inconvenience some users. Currently, the card is available only in physical form, with no virtual card option until March 2025.

For customer support, Gnosis Pay offers:

• In-app chat on website
• Email support at support@gnosispay.com
• Comprehensive FAQs and guides
• Active community support on social media and forums

Best Suited For

• Self-custody advocates who want to maintain control of their private keys while enjoying traditional payment convenience
• GNO token holders who can maximize cashback benefits through the tiered rewards program
• International travelers from supported regions who benefit from zero FX fees and worldwide Visa acceptance
• Crypto enthusiasts in Europe looking to use digital assets for everyday spending without conversion fees
• DeFi users who appreciate the integration with yield-generating platforms through partners like Zeal Wallet

Pros and Cons

Pros

• True self-custody model preserves control of private keys and assets
• Zero-fee structure for normal usage (no transaction, FX, or off-ramping fees)
• Generous cashback program offering up to 5% in GNO tokens
• Seamless integration with traditional payment rails and Visa acceptance
• Built-in IBAN account for EU users provides banking functionality
• Weekly automatic rewards distribution directly to Safe wallet

Cons

• Limited cryptocurrency support (only EURe and GBPe stablecoins)
• Currently available only in Europe/UK
• Cannot be used for car rentals or at automated fuel pumps
• No virtual card option until March 2025
• Initial setup and fund bridging has a learning curve for crypto newcomers

Conclusion

The Gnosis Pay Card represents a significant innovation in the crypto card market through its genuinely self-custodial model. By allowing users to maintain full control of their private keys and assets while still enjoying the convenience of worldwide Visa acceptance, Gnosis Pay successfully bridges the gap between decentralized finance and everyday spending.

The card's combination of zero transaction fees, competitive cashback rewards, and integration with traditional banking via IBAN accounts makes it an attractive option for crypto users in supported European countries. The transparent fee structure and generous free ATM allowance further enhance its value proposition.

What truly sets the Gnosis Pay Card apart from competitors is its fundamental architecture - it never requires users to surrender control of their assets to a custodial service. This aligns with the core principles of cryptocurrency while solving the practical problem of spending crypto in everyday life.

However, the limited cryptocurrency support and regional availability currently restrict its broader appeal. As the card expands to more regions and potentially adds support for additional cryptocurrencies and features like Apple Pay and virtual cards, its utility will likely increase further.

The Gnosis Pay Card is ideally positioned for crypto enthusiasts who prioritize self-custody, already use or are willing to acquire GNO tokens, and want a seamless spending experience without the usual friction of off-ramping crypto to fiat for everyday purchases.

Additional Information

Upcoming Features

Gnosis Pay has officially announced several upcoming features that will enhance the card's functionality:

• Virtual Cards: Coming in March 2025, allowing online purchases without physical card
• Apple Pay Integration: Launching in April 2025, enabling iOS mobile payments
• Geographic Expansion: Plans to launch in the USA, Brazil, Argentina, Mexico, Australia, Singapore, and other regions
• Multi-Currency Support: Implied with expansion to new regions
• Expanded Banking Features: Potential extension of IBAN services to more users

Development efforts are focused on mobile integrations, virtual cards, and geographic expansion, with OG NFT holders likely to get early access to new features as they roll out.

Card Usage Workarounds

The Gnosis Pay community has developed several workarounds to address current limitations:

• Apple Pay Access: Using the Curve app to add Gnosis Pay card to Apple Pay before native support arrives
• Auto Top-Up: Zeal wallet integration for automatic card funding from DeFi yields
• Gas Station Payment: Pay inside at cashier rather than at the pump to avoid pre-authorization holds
• ATM Usage Strategy: Stay within €200/£200 or 5 withdrawals monthly limit to avoid fees
• FX Transactions: Always select local currency at terminals to avoid third-party conversion fees
• Bridging Funds: Use integrated bridges or low-cost options when moving funds to Gnosis Chain

For troubleshooting declined transactions:

• Ensure sufficient EURe/GBPe balance in Safe
• Check if merchant or country is on the restricted list
• After 5 consecutive contactless transactions, insert card and use PIN
• Remember that car rentals and automated fuel pumps are blocked by design
• Contact support@gnosispay.com for persistent issues

The Gnosis Pay Card's technical infrastructure also includes several behind-the-scenes components worth noting:

• The Safe wallet is configured specifically for card functionality, with warnings against manual modification
• When a card is used, the system employs a secure relay mechanism that allows the Safe to authorize spending
• Card transactions undergo multi-step processing including balance verification, AML screening, and fraud analysis
• All cashback rewards are tracked via a public Dune Analytics dashboard for community transparency