The snowball effect is going to be fun to watch. These are exciting times we live in.
Yup. I bet cc companies are getting a bit scared by all of this.
Topic: BITPAY puts the major credit cards in its sights (Read 4215 times)
Yup. I bet cc companies are getting a bit scared by all of this.
While BitPay is currently adding between 500 and 1,000 merchants every single week, the company is seeing unprecedented growth. With widespread bitcoin adoption becoming an increasing topic of discussion, Pair expects to see major merchants accepting the digital currency “a lot sooner than people imaging today” adding that “many of them are looking at it already.”
That's a pretty decent growth rate! I think that merchant growth is already self-sustaining even without any further marketing efforts.
If any big names enter bitcoin growth will accelerate very fast. However credit card companies are still not out of the game - they have a lot more capital in background and well established brands.
They will probably be the first BTC company to IPO.
The snowball effect is going to be fun to watch. These are exciting times we live in.
http://cryptocrimson.com/2014/05/bitpay-puts-major-credit-card-providers-sights/
In an interview with CNBC, BitPay’s CTO, Stephen Pair revealed that the company is persistently working to replace major credit card companies such as Visa and MasterCard. Pair hints that the security provided by credit cards, which he points out were designed in the 1950′s, in respect to identity protection and fraud is simply obsolete.
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While BitPay is currently adding between 500 and 1,000 merchants every single week, the company is seeing unprecedented growth. With widespread bitcoin adoption becoming an increasing topic of discussion, Pair expects to see major merchants accepting the digital currency “a lot sooner than people imaging today” adding that “many of them are looking at it already.”
In an interview with CNBC, BitPay’s CTO, Stephen Pair revealed that the company is persistently working to replace major credit card companies such as Visa and MasterCard. Pair hints that the security provided by credit cards, which he points out were designed in the 1950′s, in respect to identity protection and fraud is simply obsolete.
...
While BitPay is currently adding between 500 and 1,000 merchants every single week, the company is seeing unprecedented growth. With widespread bitcoin adoption becoming an increasing topic of discussion, Pair expects to see major merchants accepting the digital currency “a lot sooner than people imaging today” adding that “many of them are looking at it already.”
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