Bitcoin Forum

An increasing the demand of bitcoin we hear some good new everyday about the companies accepting and using bitcoin. The Visa CEO 'Alfred Kelly' announced in an interview that Visa is entering the crypto currency.
He said: We try to do two things; The first is to make it possible to buy Bitcoin with Visa credit cards, and the second is to work with Bitcoin wallets to quickly convert Bitcoin to Fiat currency so that it can be used in the 70 million places in the world that Visa supports.
Kelly believes there is "strong potential" for crypto currencies to become new payment system.
What's your thoughts?

Source: https://www.moneycontrol.com/news/business/visa-ceo-says-working-to-enable-purchase-of-bitcoin-through-its-credit-card-6656051.html

This is great news and is going to increase demand even further. I don't know if I'm too keen on people being able to buy Bitcoin on credit though. I also don't think purists would like it if they implemented fiat conversion because in an ideal world we would only transact with Bitcoin. But all in all this is one more step in the phase we are in of institutional adoption and going mainstream.

Have been hearing this for quite sometime but haven’t seen any positive progress yet. I think such decisions are above these CEO and mostly government and Central banks have authority over Visa/MasterCard etc.


But isn’t it already there?  If he mean to don’t charge extra fees then good step.

Otherwise they treat it as “investment” and charge big percentage of fees almost 10%. I did used once and after one month in my statement there was 10% fee against investment when I inquired they told me you invested in stocks. I said ok, I mean


That’s something I would agree to, Yes it is the new payment system.

Buying bitcoin with credit cards is very old. You can do that for years and years in CEX.io for example. But it is expensive.
https://cex.io/cards

There are also for long time pre paid master/visa card which can be funded with bitcoins. It is nice now to see VISA CEO involved in this. Those services used to be shut down quickly in the past, but now I believe we will see a lot of more of these prepaid cards, as VISA CEO is incentivizing them.

I think I've heard of that news before, maybe not a long time ago but this isn't new. What I can say is, if they'll give that feature for their users to convert quickly received bitcoin into fiat, that's the worry of most users. They are still into cash and that's the only thing they need to secure. The confidence that they can convert received bitcoin into fiat will remove their doubts towards it, and this is for those no coiners that think that bitcoin is a scam and only used illegally.

This is news that we have heard for a long time and in my opinion it is still in the planning stage which cannot be fully implemented at this point. Maybe the middle of this year, if Kelly is ready with the visa maker on a large scale. that way we will see a huge increase in the market after visas are legally used globally.

I'm more keen on seeing more development on this as I've already heard about this sometime in the past. I hope they will be able to allow us to pay with bitcoin for any merchant that accepts Visa, just like how paypal plans on doing so. I think Paypal's plans and implementations are more expressed as compared to Visa which hasn't detailed out their integration with crypto. Paypal was even able to lay out a timeline although they haven't given any update for now.

VISA has its own "internal" (?) FOREX rates, usually better than what the banks offer.
If they would do something similar for Bitcoin, hence turning off the many (sometimes hidden) fees various "Bitcoin card" issuers or "Exchanges selling Bitcoin for card" have, it could be an interesting news.
But I think that we are not there yet.
We'll see...

Some big cryptocurrency exchanges, like Coinbase, don't accept credit cards. Coinmama and CEX.io say they accept credit cards, but only Visa and Mastercard. And even then, that doesn't mean your credit card company allows it

This is good, especially if you don't have enough BTC to buy a miner when BITMAIN only takes BTC.

Honestly, there is nothing too special about this anymore. Visa does not make it possible for people to buy Bitcoin using Visa because it has already been done long before this announcement. And not just buying Bitcoin using Visa cards but also spending Bitcoin in the form of fiat by way of Visa crypto cards.

Of course, it is still a welcome news since this is Visa itself announcing its support for Bitcoin, but there seems to be nothing completely new about this.

I recently tried to use VISA, MC and AMEX to buy bitcoin and none of my credit card companies would accept the transactions. 

There isn’t really that much unveiled at all. The articles exploits just a few minutes of the podcast (hear: https://podcasts.apple.com/us/podcast/will-bitcoin-disrupt-visas-business/id1501891506?i=1000513214346). Namely, what is said between 6:19 and 9:23.

The interviewer asks Visa CEO, Al Kelly, what Bitcoin and cryptocurrency means to their business. The part about "enabling the purchase of bitcoin on visa credentials" is nothing new, and constitutes a simple depiction of what they currently do (and have been doing for some time). Working with wallets to enable bitcoin to be translated into fiat sounds like the prior, but the other way around. It does not really depict any big plans, but rather what’s already on the board. Perhaps what is being expanded is the number of partnerships being made to this effect, but it is not showing any new plans apparently. They also verse on what seems to be stablecoins, but I’d say under the same prism as the prior.

Obviously it is a great news for crypto lovers. Sometimes, we have to face difficulty at the time of buying Bitcoin. All the times, we shouldn't depend on local clients. Visa is a great way as a payment gateway. I think many new features will be added soon.

I heard a few days back Visa is going to enable crypto use for their users. Yes, it would be easier to consume our Bitcoin when we could load and spend Bitcoin through a Visa card. I am assuming they just seeking how to avoid volatility and convert Bitcoin into fiat instantly. I don't think they will take the risk of volatility. However, still, it's a positive move for Visa because their use would increase more when they will enable crypto uses officially.

You can already do this, the problem is not Visa, the problems are the banks that issue those Visa cards.
Even if Visa enables you to transfer or pay with crypto if your bank will not allow your card to be bound to a crypto account there is nothing you can do, other than of course switching banks and find one that does.


As I was guessing, they are not interested in creating a new channel that would allow you to pay with bitcoin directly to a merchant but more they are focused on wallets that would convert crypto directly to fiat and then use that fiat with your visa card. Every 10 seconds he mentions transfer to fiat, like a robot.
I live the way he admits, he doesn't know if crypto will be big or no in 5 years, he claims he is not smart enough for that but he is smart enough to try to get a piece of the pie, damn jackal ;D

This is good news for sure but VISA are already supporting Crypto for example with
the Coinbase Debit Card


Am I missing something here?


Does this mean we can integrate or link a Bitcoin wallet to a VISA card (or visa versa) ?

Cant wait for a moment when I can buy crypto directly in my bank account (same as I can buy stocks, even though they are not real, but artificial like bitcoin on paypal) and such option being available in every bank. Seeing how things are doing, I think it will be available in few years.

The Visa boss takes cryptocurrencies and has to deal with cryptocurrencies. Regarding BTC, Kelly announced that Visa is in the process of enabling the purchase and is working with some wallets to enable conversion into a fiat currency. On the other hand, they will develop payment options in the future that allow bitcoin if you ask me.

It seems like more and more payment processing giants want to have some share of the pie that PayPal first bit. The reality is, Visa doesn't really have a problem enabling the integration of crypto into their offerings; it's those banks that do not really like bitcoin or any other crypto to be a part of their customers' business. Good thing though that banks here in my country are starting to open up to crypto-related services and whatnot. It's only a matter of time before we can have seamless integration of crypto into Visa and similar payment payment processors, at least here in the country.

Today there are a lot of platforms accepting an online payment other than the cryptocurrency payment and one of those is the visa/master card adaptation which is a good thing to do today most people have this kind of online payments which is more hassle than paying cash on our side we mostly on the side of online payment and transactions.

Not only in exchange also with the gambling platform and another top their platform accepting the used of the visa payment to buy a cryptocurrency again for sure this requires to have a KYC before to buy coins you desired this is for safety too for the buyer and the seller.


PayPal is one of the tiers that already adopt the use of the bitcoin you can now easily bought a bitcoin on their platform which is a good thing less hassle and you can immediately convert those coins and back as the current currency you have.

First they ignore Bitcoin, than they try to ban Bitcoin, and in the end they will all join and accept Bitcoin.
And this story is the same for Visa, Mastercard and for everyone else, but I think they will try to make their own centralized thing to be able to scale worldwide.
Future is looking bright for Bitcoin.

I hope they don't make their own centralized crypto but instead help to widen the adoption of Bitcoin worldwide. I believe to what the CEO said that there is a "strong potential" that Bitcoin will be used as a currency in the future. It's just slowly happening as we can see it but I guess we need more regulations in order for that to happen since most of the country is not yet ready to adopt Bitcoin.

O am expecting more large institutional investors to hop in and join the bandwagon to increase the adoption of Bitcoin in the future. Thanks to these kind of companies making it possible to increase the adoption and believing that one day we'll all be using Bitcoin instead of fiat in the future.

This is really good news, a new great movement for the crypto world. There is always something that motivates us to focus more in bitcoin, there is a lot of company that keeps accepting bitcoin which can be a way for a mas adoption, even though we haven't seen it yet as a whole, but there is still progress which something good for the community. I would prefer an online wallet for the Visa, which is more convenient, as most of us are still afraid of going outside so by that we can lessen it up.

They will fail if they tried to do it. People just wanted to keep in decentralize and that is why they keep Bitcoin no matter how high is the price. If Visa tried to make their own centralize coin, they got to a mistake.

That is what we are seeing now. And being more than a decade of its existence, I think it was good enough to see that Bitcoin really has a better future and people will give the thumbs up.

Well, people are already using the so-called "Bitcoin debit cards" for years, if Visa will be providing them directly, instead of having other companies do it, then it could mean lower fees and better security for users. I don't think this is a threat to Bitcoin decentralization and use-case as censorship resistant money, people who are into BTC for those reasons will wait for Lightning Network, while those who only view it as investment would get better user experience.

We may not be there yet but it looks like the market is reacting to the news, or maybe it's not the news but technicals and the price is drawn back to the new top since the correction was very shallow and people saw it's not the end of the bull market?

People like convenience and the paypal news made this bull market pick up the pace. If VISA goes along with it it's going to be like a second wind for the bulls. 

News like this will always make the price shoot. Its a very interesting news though, just imagine how adoption can massively spread out since everyone seem to have Visa and I would assume Mastercard will follow, they would do the same after Visa. A lot of things go on these days and the price keeps running up even when the market looks exhausted.

Binance also has this feature wherein a costumer can purchase cryptocurrency through a credit card. I think it is way more convenient to do that choice than any other when transacting from fiat to crypto most especially Bitcoin and any other pairings. But still not all individual has credit cards some still prefer the traditional way of buying Bitcoins maybe through p2p or any other options.

No wonder the price of Bitcoin continues to rise, there is more and more positive news about Bitcoin now. If what Alfred Kelly planned to do two
things so that Visa can enter the world of cryptocurrency is going well. I am sure the development of Bitcoin will be even faster, because we know
Visa is a large company with a pretty good reputation.

It can make many people start buying Bitcoin easily now, even though it is true that buying Bitcoin with credit cards is not new news anymore.
Because it has been a long time since we can buy Bitcoin with credit cards even though the cost is more expensive. But through Visa I believe
the cost will be cheaper and that the security system is much safer. Hopefully there will be other big companies that will adopt Bitcoin.

Last time its Paypal, now Visa open new oppotunity to accept cryptocurrency payments and purchases.

And after that bitcoinrewards, its nice to know they move forward and took new step. This will take another achievement. I hope they won't take back their plans about it. Visa's another step to enter cryptocurrency mainstream will help them move forward and improve their company. Several financial firms like Visa now joining the cryptocurrency with great benefits with both customers and the company itself.

Integration is still integration in the end, also VISA in my opinion is far more safe to store your bitcoin. I guess if VISA wants to make their service in cryptocurrency more unique than what is currently existing, I think that they should do something about it, but considering them having their hands tied as they are a centralized financial institution, I think that there won't be that much difference that they are going to offer.

since the start of PayPal, it's a race against all the finance companies, institutions, and banks. a credit card company allowing BTC, it's good news indeed its more than validating Bitcoin to the public. regular people wouldn't really mind having private keys as long as they could they have BTC in their wallet, it's all that matters because they trust Visa.

the news came out yesterday, do you think this is the cause for the price to jump?

It is good to hear about these positive news but what about the banks that banned their users from using credit cards to purchase cryptocurrency. I think it is a banking policy of a country rather than the policy by Visa to not allow credit card purchases but if Visa is able to work with bitcoin wallets to shift between crypto and fiat that would be great.

like most of the replies in this thread this is also i notice . if they allow people to buy btc using visa why cant the users use the btc directly in thier visa account ? i think that will make more sense and it will unlock the true potential bitcoin as we all know there are millions of merchants accept visa . imagine buying or using their service and we pay btc directly via a visa card .

cannot believe the owner of one of the most being used payment method will say this . so its like he is okay that their company visa can replace btc in the future .

Didn't VISA and Mastercard say the same thing last year? And then the previous years they put a ban on buying crypto using their cards, right? They all seem so confused and lost. They can't even come up with a perfection solution or a decision. This is so sad (and pathetic) when you see "worlds two largest payment processors" are struggling with taking a proper decision. But then again, I guess it's not them, but the current law and government making everything more complicated for them.

Maybe its not just conversion that VISA is offering, maybe they plan to do a bitcoin integration where your credit card can also be your wallet which if true is going to be difficult because they will be doing a lot of work to make a new kind of card that does that but I hope that that is what they are going to do because if not, I think that they will just be copying what the other companies have been doing, this could also mean that we can finally use a conventional ATM to do transactions with bitcoin.

Thank you for a cliche topic that is really not excites me anymore. We all know that VISA already adopted bitcoin in their platform which is really good but we're done with that.

We want to know and learn something new about bitcoin adoption just like new Bitcoin ATMS in some indigenous places or countries such as like that.

Visa is not flexible and developed, we can't deny it but we should also become knowledgeable or updated in some other platforms who will adopt bitcoin to run in their system.

Just be thankful now, at least they changed their minds and started to adopt Bitcoin.
It's normal at the beginning to have doubts, they are also like some people who are being FUD. For now, let's just celebrate this good news. I think this will take some time to begin another feature of Visa.

Hi there Leviathan.007, the news is good but I have doubts. When they say they are doing two things. It means to say that they are just trying out to reach bitcoin holders. Actually, the first thing that he said about "One is to enable the purchase of bitcoin on Visa credentials" - I think this is possible several years ago, then they just block it. Mean to say that it is working before. Another thing is that, why is the news came from other sources, not from Visa itself?

Certainly, Visa has been late to offer us the service of buying bitcoin and cryptocurrencies. Now, if Visa has decided to offer customers the service, then it must be improved with convenient rates and other advantages.
Competition can get fierce just by looking at the market.

Bitcoin has disrupted money. It is more interesting to buy cryptocurrencies than the new iPhone as an example.
There are many things that bitcoin and cryptocurrencies have taught us is the ability to invest and save, we hardly spend anymore, credit cards were designed to spend. Now Visa must reinvent its mission to be also useful for investment.

One more enterprise finally embraces the bitcoin, the way bitcoin is going it’s not surprising. The only thing not liked by crypto community is the fact that it will compromise the anonymity of bitcoin. You buy through VISA and tax department will get to know how much you have in BTC.