VISA rages WAR against Bitcoin! BANNED

[btcwish1]

VISA recently ordered to banned all BTC debit cards.  Currently banned cards:  Bitwala, Cryptopay, Wirex, and TenX and xapo.

I am personally a XAPO user and got following email:

"Dear Cardholder,
 
Yesterday, January 4th 2018, the Xapo Card issuer Wave Crest Holdings, Ltd. was instructed by Visa® to close all cards of its Visa® programs effective immediately.
 
Unfortunately, Xapo did not receive any anticipated notice to prepare for - and have our cardholders prepare for -  the cancellation of our Card program."

A very sad day 

[Jating]

VISA recently ordered to banned all BTC debit cards.  Currently banned cards:  Bitwala, Cryptopay, Wirex, and TenX and xapo.

I am personally a XAPO user and got following email:

"Dear Cardholder,
 
Yesterday, January 4th 2018, the Xapo Card issuer Wave Crest Holdings, Ltd. was instructed by Visa® to close all cards of its Visa® programs effective immediately.
 
Unfortunately, Xapo did not receive any anticipated notice to prepare for - and have our cardholders prepare for -  the cancellation of our Card program."

A very sad day 

If I'm not mistaken, there was one article about the CEO of Visa declaring bitcoin a fraud or bubble or something to that effect. I can't remember correctly though.

Well, this is no surprising news. We all know that bankers really hates bitcoin and this declaration is another way of waging war against bitcoin. But why are you sad though? They are leading a smear campaigns against bitcoin and I'm sure that we can find others way to transact without Visa sponsored card.

Its not like the end of world for bitcoin. We all know that this will be forthcoming admit it or not. There are really feel threaten by crypto specially that its gaining ground once more. So be it, they started the war many years ago and I don't think can stop bitcoin though.

[mahibul49]

its good for crypto .this idiot visa card will accept btc later when they will realise or no matter.btc is btc.

[emuLOAD]

Now let's keep information at least somewhat real.

This is an issue that came to pass with a company called Wave Crest, a Gibraltar company that is a principal member of VISA and MasterCard circuits.
VISA decided to demand they stop processing payments for the crypto-related cards in given regions.

One would have to know the actual reasoning for it to be fully clear, but it is most likely due to the fact that Wave Crest is not an internationally present company and is issuing cross-border with Gibraltar money license.

If VISA had any intention of actually "banning" bitcoin in general, they would not have onboarded Monaco as a member.

[Dent_DC]

Anybody know if this affects VISA cards issued by Spectrocoin? (MyChoice)

[emuLOAD]

Finally found a decent article:

Visa said the cards had been suspended after Visa terminated WaveCrest's membership due to "continued non-compliance with our operating rules", although it said other Visa cards that convert Bitcoin into normal currency would not be affected.

http://www.telegraph.co.uk/technology/2018/01/05/visa-locks-bitcoin-payment-cards-crackdown-card-issuer/

[emuLOAD]

Anybody know if this affects VISA cards issued by Spectrocoin? (MyChoice)

Isn't MyChoice still WaveCrest? if they are, it will be down.

[Dent_DC]

Anybody know if this affects VISA cards issued by Spectrocoin? (MyChoice)

Isn't MyChoice still WaveCrest? if they are, it will be down.

Yeah  

MyChoice Prepaid Card is issued by Wave Crest Holdings Limited pursuant to a license from Visa Incorporated

Source: https://www.cardholderonline.com/wap/ (footer)

On Spectrocoin it says Status: Active but on MyChoice it says Status: Blocked so... I suppose it does affect those cards as well.

[Xavofat]

Since Bitcoin debit cards are just spending fiat at merchants anyway, they're not an essential BTC-related service.  

They might be useful for people hoping to do everyday transactions with Bitcoin considering its lack of merchant adoption and high fees, but in the long term, I doubt that they'll end up being relevant.

Still, these are major companies.  They may just search for a new provider (other than Wavecrest), provided that Bitcoin debit cards in general don't violate Visa's rules.

[hilda483]

VISA recently ordered to banned all BTC debit cards.  Currently banned cards:  Bitwala, Cryptopay, Wirex, and TenX and xapo.

I am personally a XAPO user and got following email:

"Dear Cardholder,
 
Yesterday, January 4th 2018, the Xapo Card issuer Wave Crest Holdings, Ltd. was instructed by Visa® to close all cards of its Visa® programs effective immediately.
 
Unfortunately, Xapo did not receive any anticipated notice to prepare for - and have our cardholders prepare for -  the cancellation of our Card program."

A very sad day 

They never actually agreed with Bitcoin much, they were against it since the beginning. Banks will soon wage war on crypto and it's gonna get more intense. Wait and see.

[Cryptoshops]

Here you go



Visa said the cards had been suspended after Visa terminated WaveCrest's membership due to "continued non-compliance with our operating rules"although it said other Visa cards that convert Bitcoin into normal currency would not be affected.

"Visa has other approved card programmes that use fiat funds converted from cryptocurrency in a number of jurisdictions. The termination of WaveCrest’s Visa membership does not affect these other products."

A WaveCrest spokesperson said: "We deeply regret the inconvenience that this has caused to all of our customers affected by this decision."

[Invest-or]

VISA recently ordered to banned all BTC debit cards.  Currently banned cards:  Bitwala, Cryptopay, Wirex, and TenX and xapo.

I am personally a XAPO user and got following email:

"Dear Cardholder,
 
Yesterday, January 4th 2018, the Xapo Card issuer Wave Crest Holdings, Ltd. was instructed by Visa® to close all cards of its Visa® programs effective immediately.
 
Unfortunately, Xapo did not receive any anticipated notice to prepare for - and have our cardholders prepare for -  the cancellation of our Card program."

A very sad day 

Worse for VISA then. There are many initiatives out there that target the market. For example, FuzeX seems to be an ideal replacement for cards, so VISA may try to prevent the future from happening at their own risk.

[stompix]

VISA recently ordered to banned all BTC debit cards.  Currently banned cards:  Bitwala, Cryptopay, Wirex, and TenX and xapo.
A very sad day  

Visa terminated it's operation with Wavecrest.
Visa has nothing with Bitcoin.

Stop spreading FUD.
Wavecrest is the one to blame, they broke the rules, they where warned int he past and did nothing to comply.

Visa said the cards had been suspended after Visa terminated WaveCrest's membership due to "continued non-compliance with our operating rules", although it said other Visa cards that convert Bitcoin into normal currency would not be affected.

"Visa has other approved card programmes that use fiat funds converted from cryptocurrency in a number of jurisdictions. The termination of WaveCrest’s Visa membership does not affect these other products."

So stop the FUD!!!!!!!

Worse for VISA then. There are many initiatives out there that target the market. For example, FuzeX seems to be an ideal replacement for cards, so VISA may try to prevent the future from happening at their own risk.

Oh YEAH.
I''m pretty sure that the 23262637263723th ICO that promises cheap payments and "smart" way to pay will challenge Visa before running away with all the money from the ICO.

[henke1]

VISA recently ordered to banned all BTC debit cards.  Currently banned cards:  Bitwala, Cryptopay, Wirex, and TenX and xapo.

I am personally a XAPO user and got following email:

"Dear Cardholder,
 
Yesterday, January 4th 2018, the Xapo Card issuer Wave Crest Holdings, Ltd. was instructed by Visa® to close all cards of its Visa® programs effective immediately.
 
Unfortunately, Xapo did not receive any anticipated notice to prepare for - and have our cardholders prepare for -  the cancellation of our Card program."

A very sad day 

there is also this topic about that -> https://bitcointalk.org/index.php?topic=2695939.0
and if you search wikipedia for it -> TOP MONOPOLY ->
Anti-trust issues in Europe , etc....  ->

A senior official from the European Central Bank called for a break-up of the Visa/MasterCard duopoly by creation of a new European debit card for use in the Single Euro Payments Area (SEPA).[62] After Visa's blocking of payments to WikiLeaks, members of the European Parliament expressed concern that payments from European citizens to a European corporation could apparently be blocked by the US, and called for a further reduction in the dominance of Visa and MasterCard in the European payment system.

https://en.wikipedia.org/wiki/Visa_Inc.

[blockchainmarketus]

Any other ideas how to get  visa card like? I think there will be investors who want to accept cryptocurrencies.

[Pab]

For me not big problems,there is still master card in europe and online wallets what are accepting diffrent crypto
But if we combine that with banks what dont want support exchanges and thay are even suspending consuments accounts than it is not so funny

[Captain_Planet]

The best ting to do is to ban all kind of VISA cards rather than banning bitcoin. The crypto lovers should reject suing VISA cards then. 

[altGear]

OFC (of course) it's direct competition that's effecting their bottom line...what did you expect?

[entrepmind23]

It is not surprising but given that it is a big opportunity for Visa to expand its business having bitcoin related cards then it would be a loss for them. The partnerships that Visa let go would just go to another provider because there are other options anyway. Yes they are a big company but there are other options and maybe later on, they would just accept bitcoin again. Cryptocurrency adoption is growing and they can see it in their very own eyes that sooner or later there would be companies that would be able to beat them so I think it is a wrong move for them. They should join the bandwagon not being against it.

[WhaleSlayer]

Finally found a decent article:

Visa said the cards had been suspended after Visa terminated WaveCrest's membership due to "continued non-compliance with our operating rules", although it said other Visa cards that convert Bitcoin into normal currency would not be affected.

http://www.telegraph.co.uk/technology/2018/01/05/visa-locks-bitcoin-payment-cards-crackdown-card-issuer/

Well, if this is true, then much ado for nothing. I think the war on Bitcoin, if at all, would be made on a different level of actions. This has been likely just a marginal episode.