AUSTIN, Texas, May 28, 2024 (GLOBE NEWSWIRE) -- CompoSecure, Inc. (Nasdaq: CMPO), a leader in metal payment cards, security, and authentication solutions, today announced expanded capabilities that enable Web3 payments for everyday purchases through the convenience of a metal card. Using these capabilities, consumers can have the flexibility to securely self-custody their digital assets and make those stablecoins and other digital assets spendable at the point of sale with a simple tap-to-pay. The Arculus Web3 payment capabilities will be demonstrated in the Arculus booth (#1221) May 29-31 at Consensus by CoinDesk in Austin, TX.
“Digital currency payments in the physical world are almost nonexistent for multiple reasons,” said Adam Lowe, Chief Product and Innovation Officer at CompoSecure & Arculus. “At present, consumers with digital currencies have two challenges: first, they have to off-ramp to traditional fiat currency to spend their digital assets, and second, merchants do not have a way to allow customers to pay with digital currency easily and securely. This new Arculus advancement can streamline the transaction process, empowering consumers to make payments with their preferred digital currency directly from their self-custody hardware wallet with a simple card tap. For merchants, this enables digital currency acceptance with automatic fiat conversion over traditional payment rails or directly accepting digital currency payments.”
The new Arculus capabilities can dramatically simplify the process, allowing merchants to instantly accept purchases with debit, credit and cryptocurrencies. Consumers will be able to pay just like they do with a traditional payment card. With the integration of the new Arculus capabilities, consumers will be able to use digital currency to pay wallet-to-wallet directly to the merchant at supported PoS terminals or over traditional payment card rails.
“Innovations like tap-to-pay with USDC on Solana from Arculus demonstrate how consumers can use Solana to easily and securely make payments in the physical world,” said Sheraz Shere, GM of Payments and Commerce at the Solana Foundation.
“Arculus can make paying with digital currencies secure and convenient. Consumers can carry one metal card that works everywhere and allows them to retain custody of their digital assets up until the moment of spending,” concluded Lowe.
Arculus is actively engaging with PoS vendors, merchants and other key stakeholders in the Web3 ecosystem to enhance and drive a seamless customer experience for the self-custody community. For more information, please visit GetArculus.com/business-solutions.
About CompoSecure
Founded in 2000, CompoSecure (Nasdaq: CMPO) is a technology partner to market leaders, fintechs and consumers enabling trust for millions of people around the globe. The company combines elegance, simplicity and security to deliver exceptional experiences and peace of mind in the physical and digital world. CompoSecure’s innovative payment card technology and metal cards with Arculus security and authentication capabilities deliver unique, premium branded experiences, enable people to access and use their financial and digital assets and ensure trust at the point of a transaction. For more information, please visit www.CompoSecure.com and www.GetArculus.com.
Forward-Looking Statements
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These statements are based on the beliefs and assumptions of management. Although CompoSecure believes that its plans, intentions, and expectations reflected in or suggested by these forward-looking statements are reasonable, CompoSecure cannot assure you that it will achieve or realize these plans, intentions, or expectations. Forward-looking statements are inherently subject to risks, uncertainties, and assumptions. Generally, statements that are not historical facts, including statements concerning CompoSecure’s possible or assumed future actions, business strategies, events, or results of operations, are forward-looking statements. In some instances, these statements may be preceded by, followed by or include the words “believes,” “estimates,” “expects,” “projects,” “forecasts,” “may,” “will,” “should,” “seeks,” “plans,” “scheduled,” “anticipates” or “intends” or the negatives of these terms or variations of them or similar terminology. Forward-looking statements are not guarantees of performance. You should not put undue reliance on these statements which speak only as of the date hereof. CompoSecure undertakes no obligations to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Corporate Contact
Anthony Piniella
Head of Communications, CompoSecure
(908) 898-8887
apiniella@composecure.com
