[2016-09-10] Santander sees Bitcoin as a Threat to Card Issuers

InvoKing

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Quote from: BTCManagerOfficial on September 10, 2016, 10:15:10 AM

...Bitcoin as a potential risk to credit card issuers and acquirers.

that's why one of it ( Mastercard ) is refusing to deal with anything related to bitcoin, the example of Neteller in which Mastercard doesn't allow to buy with their cards using bitcoin related money...

Rustin

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"Conversely, the report states that large credit card brands, such as MasterCard and Visa, and banks could actually benefit greatly from the adoption of blockchain technology to lower transaction fees and back-office costs. Exchanges could also benefit from an increased bitcoin adoption, as foreign exchange and derivative trading revenues would increase if bitcoin were to be made available to trade and clear on exchanges."

BTCManagerOfficial

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The Spanish banking giant, Santander, recently published a report stating that it views Bitcoin as a potential risk to credit card issuers and acquirers.

In the report, which focuses on the Brazilian market, Santander’s equity research team highlights Bitcoin’s benefits over typical card payments, including substantially faster transaction time, no need for contracts, considerably lower transaction fees, and the free-of-charge use of the blockchain versus expensive back-office transaction systems...

Read more here:

https://btcmanager.com/news/business/santander-sees-bitcoin-as-a-risk-to-card-issuers/

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