Hi there,

We're launching SolCard Full Access — a verified tier with expanded benefits. This change affects how Visa (Apple Pay & Google Pay) cards work going forward.

We had SolCard Full Access planned for later this year, but our bank needed us to launch it now to keep offering Visa cards. The upside is that verified users get better service and pay less in fees.

What This Means for You

• From now on, new Visa (Apple Pay & Google Pay) issuances will be available solely to SolCard Full Access users.

• 0% top-up fees on ALL Visa (Apple Pay & Google Pay) deposits to SolCard Full Access users.

• The monthly deposit limit for SolCard Full Access will be raised to $100,000/month. Contact support if you need an even higher limit — we can support it.

• Mastercards remain completely unaffected — All users, regardless of SolCard Full Access or regular status, retain normal access.

• SolCard Full Access users who are also $SOLC holders will be able to link their wallets and earn cashback on purchases. Available from mid-July and more info on the program coming very soon.

• Upgrading to SolCard Full Access is temporarily unavailable to USA residents. More info will be available as we discuss options with our issuing partner.

• If your Visa (Apple Pay & Google Pay) card has been frozen: you'll soon be able to transfer funds to another card, withdraw them, or upgrade to SolCard Full Access to unfreeze.
• If your Visa (Apple Pay & Google Pay) works fine: you may keep using your card as-is. We strongly recommend, however, upgrading to SolCard Full Access to enjoy 0% top-up fees.

To upgrade your account to SolCard Full Access, please click here

What this means for Referrals

To maintain the business model sustainable through this transition period, we will be temporarily halting referral earnings for top-up volume made to the Visa (Apple Pay & Google Pay) card under the 0% fee schedule.

Mastercards, or top-ups made by users who are not SolCard Full Access, will go through the regular fee distribution processes.

To compensate for this sudden change, we'll increase the first-time Visa (Apple Pay & Google Pay) issuance reward in 50%, effectively raising the reward from $10 to $15 USD.

What this means for Revenue Sharing

The same rationale applies to the Revenue Sharing pool — Visa (Apple Pay & Google Pay) top-ups under the 0% fee schedule will not go through revenue sharing.

We re-iterate that revenue generated by Mastercards or by users who are not SolCard Full Access, will undergo the usual revenue sharing route, along with the referral split, if applicable.

As we negotiate better fee conditions with our issuing partner, we expect to re-introduce top-up based Revenue Sharing for this specific card type.

Looking Ahead

We know lots of you use SolCard because we're a privacy-first solution — and this update probably upsets lots of you. We hear you.

We’re committed to bringing back a privacy-centered IRL solution in the near future. However, our current priority is working closely with banks and partners to stabilize our Visa offering. This means our efforts are temporarily focused on meeting reliability standards set by the issuing institutions.

We appreciate your patience and understanding as we navigate these changes. If you have any questions or need help with upgrading your account or processing a refund, our support team is here to help. Just reach out via Intercom or email us at support@solcard.cc

To upgrade your account to SolCard Full Access, please click here

— The SolCard Team

The Situation

Over the past several months, the SolCard team has been working tirelessly to address a significant challenge facing many of our users. As many of you are aware, numerous cardholders experienced issues with our legacy card provider, resulting in funds becoming inaccessible and refunds not being processed to card balances.

This situation has been deeply frustrating for all parties involved, especially for the more than 200 users who have had their funds—totaling $54,675.50 USD—effectively stuck in limbo. We recognize the considerable inconvenience and stress this has caused, and we want you to know that we've heard your concerns loud and clear.

Our Initial Approach

From the moment these issues came to light, SolCard's primary objective has been to secure a rapid resolution and ensure that every affected user receives their funds as quickly as possible. Our team initiated multiple rounds of negotiations with our legacy provider, seeking to advance these funds immediately while pursuing a long-term solution.

We approached these negotiations with optimism and good faith, believing that our provider would recognize the urgency of the situation and work collaboratively toward a resolution that prioritized our users' interests. Unfortunately, despite our persistent efforts, these negotiations did not yield the prompt resolution our users deserve.

Taking Decisive Action

After careful consideration of all available options, we've made a significant decision: SolCard will fully refund every affected user within the next 15 days, with payments coming directly from our own fees.

As of writing this, approximately 44%, or $24057.22 USD, of these refunds have already been processed. If you haven't yet contacted support about your refund, please do to make sure your refund gets processed.

This means we will temporarily redirect revenue from our revenue sharing distributions to ensure that all affected users receive complete reimbursement for their stuck funds. While this represents a substantial financial commitment on our part, we believe it's the right thing to do for our community.

What does this mean for $SOLC holders?

As a $SOLC holder and RevShare beneficiary, you're likely wondering about the impact on your weekly distributions. While we can't predict the exact timeline with certainty, we've analyzed our historical data to provide realistic estimates.

Based on simple calculations using different retrospective daily averages of RevShare collections, we project the refund process will take approximately 19-25 days to complete. The conservative estimate suggests about 25 days, while our more optimistic projection indicates around 19 days.

For transparency, we've created a spreadsheet showing the past 60 days of RevShare data in USD terms, along with our basic scenario analysis. You can review this data here: https://docs.google.com/spreadsheets/d/1d8BezXLpVEFhnUX4d13-WEtPguyeEMqhqnFjtwRMbD4/edit?usp=sharing

Regular RevShare distributions will resume in full once the process is complete. We appreciate your understanding as we prioritize making our affected users whole.

Looking Forward

While this isn't the resolution pathway we initially hoped for, we're grateful to be in a position where we can make our users whole in a financially sustainable manner. This experience has reinforced our commitment to building trust with our community and has informed several important changes to our operations:

1. We've implemented more rigorous vetting processes for our third-party card service providers.
2. We're expanding our customer support team to ensure more responsive assistance during critical situations.

Throughout this challenging period, we've been deeply moved by the patience and understanding demonstrated by our community. Your trust in SolCard means everything to us, and we're committed to continuing to earn that trust every day through our actions.

Thank you for being part of the SolCard community. We're excited to put this challenge behind us and focus on building the crypto products you deserve.

With love,

Andrew, founder of SolCard.

Hi there,

Global Phone Number Support for Apple Pay Cards

We are excited to announce a major expansion in our supported regions for Apple Pay card creation! Previously, we only supported phone numbers from the US and Hong Kong, but now we have expanded to 53 countries worldwide. This update makes it easier for users from across North America, Europe, Asia, Africa, and beyond to create Apple Pay cards.

Here are some of the newly supported countries: United Kingdom, Germany, Japan, India, Australia, Brazil, and many more! This is a significant step toward making our services more accessible to a global audience.

Apple Pay Card Improvement

In addition to expanding country support, we have simplified the Apple Pay card creation process. Previously, users were required to provide a valid US billing address, but this is no longer necessary. Now, you can create an Apple Pay card without specifying a billing address, making the process quicker and more seamless.

What’s Next?

We are continuously working to improve your experience by expanding our services and making them easier to use. Thank you for your support and trust in us.

Stay tuned for more updates soon!

Regards,

SolCard.CC

Hi there,

Refunds Progress

We have officially marked down all users who are waiting for a refund, from the oldest requests to the newest. Starting today, we will begin processing them one by one. This is a significant task, and while we are committed to handling it as quickly as possible, we want to emphasize that it will take time.

Every pending refund is being accounted for, and we appreciate your patience as we work through them.

Support & Service Updates

Alongside refunds, we are actively developing a brand-new support system. Our goal is to introduce 24/7 customer support, faster resolutions, and ongoing feature updates to improve the overall experience. However, given the high volume of existing support requests at the start, these improvements are taking time to roll out properly.

Rest assured, we are making steady progress and are fully committed to delivering a seamless and efficient support experience.

Thank you for your continued patience and trust in us. More updates coming soon!

Regards,

New Solcard.CC Support Team