An interesting news for sure. I checked them @Ripio up on LinkedIn to know more and they are a wallet/exchange that is very much rooted in Latin America. This development is some encouraging and wonderful one for crypto enthusiast in the region as, it brings used cases to the main stream where, individuals could actually pay for purchases on a debit card but this time, spend fait from a bitcoin wallet with the wallet doing all the exchange. That's impressive although with a little down side to it,
The limit of the 5% cashback amount is of a total expenses of about 1k USD, which is a lot for any Brazilian middle class.
Currently in Brazil most cards offers 1-2% cashback.
Limits to it, I guess its a way for a state and there LinkedIn page confirms it in this quote,
Ripio OTC, our corporate division, is designed for high-net-worth individuals and institutional clients that operate larger amounts and seek for deep liquidity, fast execution and custom assistance.
Where does that leave the middle and the lower class I wonder? Am sure they would improve there services to eliminate this limit.