Image: Payy
Payy Card review: fees, cashback and limits
A privacy-focused, zero-fee stablecoin Visa, recently hit by a security exploit.
Quick answer
Payy is a self-custody virtual Visa that spends USDC on its own privacy-focused network. It has no annual, monthly, transaction or top-up fees, and non-USD purchases cost 1%. It's listed in about 110 countries including the US. There's no cashback. Payy confirmed a security exploit in September 2026, so keep balances small.
Payy at a glance
| Best for | Privacy-minded stablecoin users who want a fee-free card for USD spending. |
|---|---|
| Skip it if | You want rewards, or you're uncomfortable after the September 2026 exploit. |
| Network | Visa |
| Card issuer | A US partner bank (not named) |
| Custody | Self-custody (keys stored on your device) |
| Card type | Secured prepaid |
| Virtual or physical | Virtual |
| Cashback | No cashback |
| Annual fee | None |
| Apple Pay / Google Pay | Yes / Yes |
| Identity check (KYC) | Required |
| Where it works | About 110 countries including the US. |
Payy fees
| Card cost | Free |
|---|---|
| Annual or membership fee | None |
| FX and cross-border | 1% on non-USD purchases |
| Crypto conversion | None stated. Other stablecoins are swapped to USDC automatically. |
| ATM withdrawals | Contactless ATM access in private beta only |
| Other fees | Network gas applies when bridging funds in |
Visa applies its own exchange rate on top of any card markup. Check the fee page in the Payy app for your country before you load money. To see what Payy would cost you in a year compared with every other card, try the cost calculator.
What a $100 purchase costs with Payy
These are Payy's own fees on the Standard tier, before the card network's exchange rate and any ATM or top-up costs. Its FX markup of 1% is the same as the median of 1% across the 60 cards we track with a published FX fee, and cheaper than 24 of them. For a full year based on your own spending, use the cost calculator.
Where it ranks by our score: #17 of 20 in United States
Cashback and rewards
- Payy Points have no stated cash value
Deposits and withdrawals
How to top up
- USDC, USDT or USDC.e from Ethereum, Base, Polygon, Optimism or Arbitrum, bridged automatically
Fees: Free, apart from network gas.
How to withdraw
- Send USDC out from your Payy wallet
Fees: Network gas only.
Supported assets: USDC on Payy Network.
Where Payy works
About 110 countries including the US.
Check the app for your country.
Limits and perks
Limits
- Not published
Perks
- Private transactions using zero-knowledge proofs
Pros and cons
What's good
- No annual, monthly, transaction or top-up fees
- Self-custody with privacy features
- Works in the US and about 110 countries
What's not
- Security exploit in September 2026
- No cashback
- Virtual only, no ATM yet
Our take on Payy
Payy's pitch is private stablecoin payments. Transactions settle on its own network, which uses zero-knowledge proofs to hide who paid whom and how much, and the Visa card spends USDC with no annual, monthly or transaction fees. Non-USD purchases cost 1%.
In September 2026 Payy confirmed a security exploit. It says early analysis ruled out compromised keys, but the scope and impact haven't been published and an audit is still running. Until that's resolved, keep only small amounts here.
Cheap and private, but wait for the exploit investigation before trusting it with real money.
How we scored Payy: 5.2/10
MethodologyPayy FAQ
How much does the Payy Card cost?
Free. Annual or membership fee: None.
Does Payy have cashback?
No cashback. Payy Points have no stated cash value.
What are the Payy FX and ATM fees?
FX: 1% on non-USD purchases. ATM: Contactless ATM access in private beta only.
Where is Payy available?
About 110 countries including the US. Check the app for your country.
Is Payy self-custody?
Self-custody (keys stored on your device).
Sources
- SpendNode: Payy reviewFees, custody, countries, exploit status, verified Sep 26, 2026
- The Block: Stablecoin startup Payy fundingBackground
We checked these sources on 16 October 2026. Fees and rewards change often. Spotted something out of date? Report a correction and we'll check it within two working days.
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