Topic: Visa won't process Bitcoin & cryptocurrency transactions - page 2. (Read 613 times)
I have heard the same thing but to my mind this may change with time and we will be able to use crypto, especially btc for transactions. As for me, this is possible and i don't understand why we can't do this
They said they would want to be in the middle of the crypto market if it comes to that. But crypto needs no middleman 
https://coincodex.com/article/2548/visa-ceo-says-crypto-not-a-threat-to-the-company/
https://coincodex.com/article/2548/visa-ceo-says-crypto-not-a-threat-to-the-company/
I am yet to understand what people really think about $Bitcoin and cryptocurrencies! It annoys me each time I read/hear projects going to obtain cards/adopt card services for a cryptocurrency!! Is this really it?? Do we need cards for cryptocurrency transactions?? If yes, what are the reasons for Cards!? Isn't wallet to wallet transfers via mobile devices lovelier?? and more convenient?? Cards are Uncrypto By my assessment! Why not forget card services?? Afterall it is these same card services that $Bitcoin and Cryptocurrencies are suppose to remove from the space as they are middle men who the tech seeks to bypass! Enough of all these card rubbish! It makes nonsense of the idea behind crypto!!
if the news is true. It is jabar that is not good because it is not what we expected. because I hope we can use bitcoin for transaction services. both in the digital or real world.
Visa among other credit card operators have always kick against transactions that involved bitcoin or other cryptocurrency but the fact still remains that with time the same visa card will adopt and allow the use of their service for transactions that involved cryptocurrency currencies because the world is speedily adopting bitcoin which any credit card and financial operator who don't join the moving train will be lacking behind.
if visa wouldnt another company will do, visa is a big player in card/payment based on fiat bussiness, if visa allowing bitcoin/cryptocurrencies to using visa platform it will ruin visa bussiness itself
Bitcoin and blockchain ignored the use of debit and credit cards for digital payments. Now Bitcoin is last in the line for digital money.
I personally think that VISA and Mastercard they should be more open to innovation if they want to win long term - 10 plus years. Innovating only if you have to will = failure. Organizations need to examine how they can best take advantage of Crypto and other technologies. The future is coming whether you prepare or not.
The CEO of visa may attack or withhold the access to use it platform to carry out cryptocurrency transactions but thank God for advance technology that allow user to have access to exchange of fait money and cryptocurrency I know since visa operate on the traditional banking system it will always come against cryptocurrency.
Bitcoin and blockchain ignored the use of debit and credit cards for digital payments. Now Bitcoin is last in the line for digital money.
Currently it can be a good position for them to crypto with a situation when the entire banking system should be able to change because it can involve crypto in everyday life for everyone, Visa or MC or others have no way and they should be like plastic with all requirements in a modern way. Over time there will be state approvals allowing visas to transact via bitcoin or other cryptocurrencies. 
it always starts with situations like this and finally it ends up with we have been looking for a way to tap into the blockchain technology and finally we did but what we wished is that we started it far more earlier. those will be visa's comments in the near future.
I am not too surprised. First of all, the legal status of Bitcoin is not clear in many of the jurisdictions. And secondly, Visa may consider BTC as a competitor which can have a negative impact on its business in the near future.
Of course, you cant just expect visa to accept crypto while they are the biggest player in fiat payment market
Why do they have to risk their comfortable position to try new things?
When you do not try to accept the technology, you will find yourself left behind by the technology itself
Why do they have to risk their comfortable position to try new things?
When you do not try to accept the technology, you will find yourself left behind by the technology itself
It's seen as too risky because the fluidity of the liquidity of prices within the market. The price could jump high, or fall low, all within the course of a day. That is a huge financial risk for a bank to take part in. Also, the regulations on crypto aren't entirely certain in every aspect.
I will come back to Bitcoin after 5 years. If Bitcoin is there, it will go the silver way. Just as Silver was $80/ounce in 1980, Bitcoin can go back to $200.
Just goes to show how hard companies will go to ban crypto in their space. Sounds like they're missing out to me.
The largest cryptocurrency, bitcoin, is a commodity and not a payment system, according to Visa’s chief executive. Visa will also not give bitcoin or other cryptocurrencies a platform for wire transfers and exchanges. “I don't view it as payment system player,” CEO Alfred Kelly told CNBC.
“We at Visa won't process transactions that are cryptocurrency-based. We will only process fiat currency-based transactions,” he added. Visa is the world's largest credit card company.
Bitcoin was originally created as an alternative de-centralized currency. However, with its 2,000 percent growth last year, it has become a source for speculators to make a quick buck. As bitcoin turnover grows, it faces problems like high fees, astoundingly slow transactions and volatile prices.
https://www.rt.com/business
“We at Visa won't process transactions that are cryptocurrency-based. We will only process fiat currency-based transactions,” he added. Visa is the world's largest credit card company.
Bitcoin was originally created as an alternative de-centralized currency. However, with its 2,000 percent growth last year, it has become a source for speculators to make a quick buck. As bitcoin turnover grows, it faces problems like high fees, astoundingly slow transactions and volatile prices.
https://www.rt.com/business
What the Visa Company said was true. Actually bitcoin right now is not yet functioning truly as a currency. And it is also true that the majority of bitcoin holders are treating bitcoin as a commodity rather than as a currency. But sooner or later bitcoin will be treated as a currency, and right now we are slowly walking on that path. It maybe will take years but we will reach that goal.
The largest cryptocurrency, bitcoin, is a commodity and not a payment system, according to Visa’s chief executive. Visa will also not give bitcoin or other cryptocurrencies a platform for wire transfers and exchanges. “I don't view it as payment system player,” CEO Alfred Kelly told CNBC.
“We at Visa won't process transactions that are cryptocurrency-based. We will only process fiat currency-based transactions,” he added. Visa is the world's largest credit card company.
Bitcoin was originally created as an alternative de-centralized currency. However, with its 2,000 percent growth last year, it has become a source for speculators to make a quick buck. As bitcoin turnover grows, it faces problems like high fees, astoundingly slow transactions and volatile prices.
https://www.rt.com/business
It's seen as too risky because the fluidity of the liquidity of prices within the market. The price could jump high, or fall low, all within the course of a day. That is a huge financial risk for a bank to take part in. Also, the regulations on crypto aren't entirely certain in every aspect. “We at Visa won't process transactions that are cryptocurrency-based. We will only process fiat currency-based transactions,” he added. Visa is the world's largest credit card company.
Bitcoin was originally created as an alternative de-centralized currency. However, with its 2,000 percent growth last year, it has become a source for speculators to make a quick buck. As bitcoin turnover grows, it faces problems like high fees, astoundingly slow transactions and volatile prices.
https://www.rt.com/business
Old news, I believe that both VISA and Mastercard said that they are going to block bitcoin related payments around 4-5 months ago when the US regulators started making steps against cryptocurrencies
So wouldn't a visa transaction to a usd wallet on an exchange be a fiat transaction
No, actually they are meant to block any transaction that their automatic systems detected that it is related to cryptocurrency trading, most likely buying in coinbase/Circle with credit card won't work, also blockchain companies that offered debit card based on bitcoin will be closed as their cards are going to be blocked by Visa and Mastercard.
Bitcoin is direct competition for Visa if Visa is stopping bitcoin means they are afraid of bitcoin and Visa tieed up with banks to ban bitcoins to some extent Bitcoin is people currency they will buy at any cost
Volatility has always been the issue of most businessmen why they wont consider bitcoin in their businesses. Coz if you buy $20 worth of btc now, tomorrow it may be worth just $9. Volatility is nkt good for the business. The issue of bitcoin not being a currency is because it wasnt accepted in most countries. In a country like japan where most businesses accepts bitcoin, it is regarded as a currency and not an asset.
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