Visa will not directly accept bitcoin, according to company CEO Alfred Kelly in a recent CNBC interview during the National Retail Federation trade show in New York City.
“We at Visa won’t process transactions that are cryptocurrency-based,” he said. “We will only process fiat currency-based transactions.”
Kelly pointed to the problem posed by a currency like bitcoin with rapidly fluctuating value. “People want a fair exchange of value when they’re buying something, so if it costs $100, I want to pay $100,” he said.
If you are paying for something that is “bouncing around at the level bitcoin’s bouncing around, and think about ‘buy ahead’ kinds of transactions” – such as an airline ticket or a car – “If you’re using bitcoin, when is it valued?” he asked – when you buy it, when you use it?
“We at Visa won’t process transactions that are cryptocurrency-based,” he said. “We will only process fiat currency-based transactions.”
Kelly pointed to the problem posed by a currency like bitcoin with rapidly fluctuating value. “People want a fair exchange of value when they’re buying something, so if it costs $100, I want to pay $100,” he said.
If you are paying for something that is “bouncing around at the level bitcoin’s bouncing around, and think about ‘buy ahead’ kinds of transactions” – such as an airline ticket or a car – “If you’re using bitcoin, when is it valued?” he asked – when you buy it, when you use it?
he used very strange arguments, if someone wants to pay for something using bitcoin this person will be able to pay without problems, as the Japanese and thousands of people who use bitcoin do their shopping? obviously the same way they always did, those of the visa can not use this argument to prohibit people from using their service .. it was a low blow that the visa did and to make it worse it seems that they were guessing that I was going to ask for their card , now only have few options and are very expensive options
