Robinhood Wallet and Fomo are letting users buy memecoins with Visa, Mastercard, or Apple Pay — no separate KYC check required. The purchases route through Crossmint as 'digital goods,' which means credit card rewards post normally. Chase bank says the points should never have landed, and it's taken the case to Visa.
How the workaround works
Crossmint processes these transactions using merchant category code 5815 — the code for books, films, and music — instead of the crypto codes 6012 or 6051. That distinction matters. Crypto purchases under Visa's rules carry a quasi-cash flag that strips rewards. By classifying meme coins as digital goods
