Can all users buy memecoins with credit card on FOMO?

Users need Fomo or Robinhood Wallet installed with Apple Pay or Google Pay set up. Around 150 tokens were supported at the time of review.

Do users need ID checks to buy memecoins with credit card this way?

No. The Crossmint checkout skips standard KYC forms, though Crossmint says it runs anti-money laundering monitoring in the background.

Why did Chase dispute memecoin credit card purchases?

Chase said the transactions used an incorrect merchant code and should not have earned reward points, and it opened a case with Visa.

Is it safe to buy memecoins with credit card through this method?

The process works as designed, but the coding is disputed by a major bank. Rules could change once Visa completes its review.

Robinhood Wallet Users Can Buy Memecoins With Credit Card Now

Q: What is Robinhood Wallet's new memecoin credit card feature?

It is a Crossmint-powered checkout that lets users buy memecoins with credit card through Apple Pay or Google Pay, without a separate ID check.

Pravin Bisen

Published: September 2, 2026

Robinhood Wallet app screen showing users buy memecoins with credit card

Robinhood Wallet Lets Users Buy Memecoins With Credit Card

Robinhood Wallet and the trading app Fomo now let users buy memecoins with credit card through Apple Pay or Google Pay. The purchases skip the usual KYC identity checks most crypto-apps require.

Test transactions were coded as digital media, not crypto. This let the purchases earn normal points and cash back. Chase and Visa are now reviewing the setup, according to a September 1 report.

buy memecoins with credit card the block x post

Source: The Block X Post

Robinhood Wallet and Fomo Skip ID Checks for Memecoin Buys

Robinhood Wallet and Fomo added this option this month. Users can buy memecoins with credit card straight from their phones. The checkout runs through Apple Pay or Google Pay. Both apps skip the usual identity forms for this flow.

Crossmint, a crypto infrastructure firm, powers the payment. Crossmint's head of strategy said the product removes friction from checkout. Tokens available include dogwifhat (WIF) and dozens of smaller coins.

Fomo raised $75 million in a Series B round earlier this year. Crossmint says over 68,000 first-time buyers have used its checkout tool. Robinhood Wallet added its own Crossmint integration last month.

How Crossmint's Checkout Avoids Standard Crypto Coding

Visa and Mastercard have separate rules for crypto-purchases. Direct cryptocurrency buys need special codes and flags. These purchases got the code MCC 5815 instead.

This code covers digital goods like ebooks and movies, not-crypto. Because of this coding, the transactions did not trigger crypto restrictions. Purchases went through as normal transactions.

This lets users buy memecoins with credit card and still earn rewards points. Coinbase, by contrast, still requires ID checks for card-funded crypto-buys. That route uses a different code tied to cash-like transactions. Crossmint also allows certain closed-loop tokens tied to specific apps or games.

Chase Opens a Case With Visa

The bank said crypto purchases should not earn points. Chase opened a case with Visa over the issue. It also said the transaction lacked the special crypto flag Visa requires.

Crossmint stands by its choice, pointing to SEC guidance that calls some memecoins-digital collectibles, not securities.

Here is how the two coding paths compare:

Category	Code Used	Rewards Eligible
Standard purchase	MCC 6051 or 6012	No
Crossmint token purchase	MCC 5815	Yes

Users who buy memecoins with credit card this way still see normal statement charges. The New York Attorney General's office said it is reviewing the matter. Visa confirms it did not comment on the specific coding decision.

Source: Official The Block Report

Expert Take

Legal experts see a gap between SEC rules and Visa or Mastercard rules. Vanderbilt law professor Yesha Yadav said the two systems work separately. She said SEC comments on-memecoins do not decide network coding.

Payments lawyer Ashley Ebersole said the two categories may not differ much under regulation. Both remain non-security crypto assets. Payments researcher Doug Kantor said codes are set once and rarely revisited. He said Visa could reassign the code or fine the merchant.

That gap may explain how users buy memecoins with credit card so easily right now.

Glossary

MCC (Merchant Category Code): A code that tells payment networks what kind of business made a sale.
KYC (Know Your Customer): ID checks companies run before letting someone trade or pay.
Digital Collectible: A blockchain token valued mainly for scarcity or community status, not utility.
Apple Pay / Google Pay: Mobile wallet tools that let a phone approve a payment instantly.
Token Checkout: The Crossmint tool that lets users buy memecoins with credit card without KYC.

Conclusion

Robinhood Wallet and Fomo show how fast crypto-payment flows are changing. Being able to buy memecoins with credit card removes friction for new users. The coding dispute with Chase and Visa could reshape how these purchases work going forward.

YMYL Disclaimer: This article is for educational purposes only. It is not financial advice, investment advice, or a recommendation to buy any crypto asset. Always do your own research before using new payment tools.

About the Author Pravin Bisen

English News Writer at coingabbar.com

Pravin Bisen writes about crypto for CoinGabbar, combining three years of industry experience, including direct crypto exchange operations, with data-driven research. His coverage spans tokenomics, presale research, and market analysis, always sourced from verified project data rather than market speculation to help readers form their own conclusions.