Pera Card
Pera Wallet LDA · Mastercard
Pera Card is a non-custodial virtual Mastercard built by Pera Wallet (Pera Wallet LDA) in partnership with Immersve, a Mastercard principal member that acts as issuer. It lets users spend Algorand-native USDC (USDCa) at any Mastercard merchant via Apple Pay and Google Pay: funds stay in the user's own on-chain wallet address until the moment of payment, when they are converted to local currency at point of sale. It offers 2% cashback in USDC on eligible purchases (5 USDC minimum) and applies only the standard 1% Mastercard network FX fee on currency conversion; there is no issuance or annual fee. It cannot be used at ATMs and is virtual-only. Some precise commercial figures (e.g. spending limits, any ATM fees) are not publicly documented; at verification time the product was in a relaunch phase ("Back Soon"). The founding year of the issuer/company is not publicly documented and is therefore omitted.
The clause
That 2% on the banner isn't what you pocket.
After FX markup, fees and withdrawals, on an average profile of €1,000/mo (20% abroad).
Data & conditions
§ Amounts in USD/GBP are shown in the service's native currency.
| Network | Mastercard |
|---|---|
| Fund custody | Self-custody (funds in your control) |
| Issuance fee | Free |
| Annual fee | Free |
| ATM withdrawal | not declared |
| FX markup | 1% |
| Cashback | 2% in USDC · Nessuno |
| Chains | Algorand |
| On-chain settlement | Yes |
| Contactless | Yes |
| Virtual card | Yes |
| KYC | Full |
| Privacy | 6/10 |
| Supported countries | UK, EEA, APAC |
| Estimated net annual cost | €0/year |
| Regulator | Financial Markets Authority (FMA) / Department of Internal Affairs - New Zealand |
| Segment | B2C |
| MiCA / License status | Mastercard Principal Member (via Immersve) Immersve Limited (NZBN 9429050083725) is a registered Financial Services Provider in New Zealand and a Mastercard principal member; it issues the card in the jurisdictions where it is licensed. |
Strengths
- Non-custodial: USDCa funds stay in the user's own Algorand wallet until payment, with free withdrawal and no approvals needed
- 2% cashback in USDC on eligible purchases and no issuance or annual fee
- On-chain transparency: balances and transactions settle instantly on the Algorand blockchain
- Self-custody: funds stay in your wallet — the platform cannot touch them.
Weaknesses
- Virtual card only, with no ATM cash withdrawal
- Supports exclusively USDC on Algorand (USDCa): no ALGO, BTC or other assets/chains
- Limited geographic availability and product in a relaunch phase at verification time
- Full KYC required: verified identity, zero pseudonymity.
- Subject to regulation (Immersve Limited (NZBN 9429050083725) is a registered Financial Services Provider in New Zealand and a Mastercard principal member; it issues the card in the jurisdictions where it is licensed.): reporting to authorities and freezes on order.
Verdict
Limited protection: the card is non-custodial, so USDCa funds stay under the user's control in their own Algorand wallet until payment, reducing counterparty risk. Issuer Immersve Limited is a registered Financial Services Provider in New Zealand and a Mastercard principal member, but KYC is full and the product was in a relaunch phase at verification time.
Good sovereignty: funds stay on-chain in the user's own Algorand address until the moment of payment, with free withdrawal and no issuer approvals. Limits: full KYC is mandatory and only USDCa on Algorand is supported.
Promp's editorial rating based on real fees and net annual cost. Promp reviews third-party products independently.
"Sovereignty" rating: score computed on privacy/anonymity (30%), fund control (20%), censorship resistance (20%), trustless/auditability (20%) and costs (10%). Same data, different weights.
Reputation
What happened to people who used Pera Card, and what users say. External signals: they do not feed the promp.it rating.
Incidents & regulatory actions
No known incidentSearch across public sources: no known hack, withdrawal freeze or regulatory action as of the verification date.
verified on
Public reviews
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Google Play ↗
4.6/5
22,111 reviews
Ratings for the Pera Algo Wallet Android app, not specific to the card. Count taken from the page's structured data (ratingCount 22,111, ratingValue 4.6); the header label reads "22.1K reviews" while the section further down shows "21.8K": the structured value was used.
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App Store ↗
4.8/5
7,954 reviews
Ratings for the Pera Algo Wallet iOS app, the wallet the Pera Card lives on: they are not specific to the card. Exact figures from iTunes Lookup (averageUserRating 4.77118; userRatingCount 7,954).
Weighted average across 2 public review platforms (30,065 reviews in total), weighted by volume. This is not our rating: it is those platforms’ average.
FAQ
Is Pera Card custodial?
No. It is a non-custodial card: USDCa stays in the user's own on-chain address on Algorand and can be withdrawn at any time without issuer intervention; conversion to local currency happens only at the moment of payment.
Which cryptocurrencies and networks does Pera Card support?
Only Algorand-native USDC (USDCa). You cannot top up directly with ALGO, BTC or other assets, and the only supported chain is Algorand.
Sources
- algorand.co Issuer · On-chain settlement · Payment network · Regioni Data verified on Jul 10, 2026
- genfinity.io Supported currencies · Italia disponibile · Regioni Data verified on Jun 23, 2026
- immersve.com Regulator · Regulatory framework · Regolamentazione en · Issuer Data verified on Jun 23, 2026
- cryptocardhub.com Cashback · FX markup · Card issuance fee · Annual card fee · +1 Data verified on Jun 22, 2026
Show 1 more source
- todey.xyz Custodial · Payment network · Blockchain · Regioni · +1 Data verified on Jun 22, 2026