VISA rages WAR against Bitcoin! BANNED

[emuLOAD]

Guys, (some of) you have to be malicious, because if you're saying these things genuinely I have to seriously satrt worrying about the genepool!

There is no secret agenda, and no "attack on crypto". VISA chose to terminate one of its partners (completely, not just the crypto cards they issue) because their partner infringed their contractual obligations. This is standard business practice. It has nothing to do with VISa attacking crypto (keep in mind they choose to accept Monaco as a member). Even if you didn't trust their satements, why would they allow other issuers to operate elsewhere?

The only reason this has had such a big impact is because all these projects were weak and poorly thought out rushes to the market, all relying on the same dodgy single point of failure.

Crypto people are crypto's worst enemy, worse than VISA, thank Banks, and than regulators.

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[jseverson]

Guys, (some of) you have to be malicious, because if you're saying these things genuinely I have to seriously satrt worrying about the genepool!

There is no secret agenda, and no "attack on crypto". VISA chose to terminate one of its partners (completely, not just the crypto cards they issue) because their partner infringed their contractual obligations. This is standard business practice. It has nothing to do with VISa attacking crypto (keep in mind they choose to accept Monaco as a member). Even if you didn't trust their satements, why would they allow other issuers to operate elsewhere?

The only reason this has had such a big impact is because all these projects were weak and poorly thought out rushes to the market, all relying on the same dodgy single point of failure.

Crypto people are crypto's worst enemy, worse than VISA, thank Banks, and than regulators.

This is true. Some people are so quick to wave around their pitchforks. I mean, I guess it's easy to assume that Visa wants crypto dead as it's poised to be a challenger in the future, but everyone should do their due diligence of research.

This doesn't mean it was a hostile move by Visa though. According to this article:

https://thenextweb.com/hardfork/2018/01/05/spending-bitcoin-with-a-debit-card-just-got-a-lot-harder/

Bitwala came out with a statement saying the change was so sudden they didn't have a chance to notify their customers. But then again, that may have more to do with Wavecrest rather than crypto. It could be considered hostile whether or not it was intended though, as it did cause damage to crypto. Hostile, but not war declaration hostile as some people are quick to say.

[henke1]

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

There is China-Unionpay -> http://en.unionpay.com/englobalization/all_globzlization/eneurope/list_eneurope.html

https://en.wikipedia.org/wiki/China_UnionPay#cite_note-Foreign-11

Visa is the world's second largest card payment organization (debit and credit cards combined), after being surpassed by China UnionPay in 2015

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

China UnionPay Files Blockchain Patent to Connect ATM Network
https://www.coinspeaker.com/2017/08/29/china-unionpay-files-blockchain-patent-connect-atm-network/

[Invest-or]

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

This project is probably the best alternative and you can get a card for free subject to your investment if you are an early investor https://www.fuzex.co/
I am participating in their promotion campaign because I think that the market need this sophisticated card for crypto payments and has good partners in the crypto arena.

[justthetip69]

Any provider using MasterCard is still going strong, there are still cards working for both US and EU: http://coinvigilance.com/update-on-bitcoin-debit-cards-post-visa-ban-of-wavecrest/

Most likely others (Bitwala, Wirex) will be strong enough to find alternatives too. I hope so at least.

[bitart]

I think we just need to be patient a bit now. The WaveCrest cards was shot to dead there's nothing else we can do with it. It's understandable that there are conspiracy theories around, because this has impact on a lot of people, and there's no instant alternative solution right now.
If the wallet provider wants to continue with their card business, it's their task to find another card issuer (a trustable and rock solid one). I'm sure the card business was a success for the wallet providers (just look at the fees) so it they want to maintain their profit they have to do something. And we can't do anything to influence or hurry it, we're not in the position, so we just have to wait. If the wallet provider will end the card business, they will let us know. Communication from the wallet providers was about that they're searching for alternative card issuers, so it's a common interest to find a solution asap.

[henke1]

Guys, (some of) you have to be malicious, because if you're saying these things genuinely I have to seriously satrt worrying about the genepool!

There is no secret agenda, and no "attack on crypto". VISA chose to terminate one of its partners (completely, not just the crypto cards they issue) because their partner infringed their contractual obligations. This is standard business practice. It has nothing to do with VISa attacking crypto (keep in mind they choose to accept Monaco as a member). Even if you didn't trust their satements, why would they allow other issuers to operate elsewhere?

The only reason this has had such a big impact is because all these projects were weak and poorly thought out rushes to the market, all relying on the same dodgy single point of failure.

Crypto people are crypto's worst enemy, worse than VISA, thank Banks, and than regulators.

Visa CEO: Bitcoin is Not a Payment System -> https://news.bitcoin.com/visa-ceo-bitcoin-not-payment-system/

U.S. Justice Department actions

In October 2010, Visa and MasterCard reached a settlement with the U.S. Justice Department in another antitrust case. The companies agreed to allow merchants displaying their logos to decline certain types of cards (because interchange fees differ), or to offer consumers discounts for using cheaper cards.[54]

In 1998 the Department of Justice sued Visa over rules prohibiting its issuing banks from doing business with American Express and Discover. The Department of Justice won its case at trial in 2001 and the verdict was upheld on appeal. American Express and Discover filed suit as well.[55]

Anti-trust issues in Europe

In 2002 the European Commission exempted Visa’s multilateral interchange fees from Article 81 of the EC Treaty that prohibits anti-competitive arrangements.[56] However, this exemption expired on December 31, 2007. In the United Kingdom, MasterCard has reduced its interchange fees while it is under investigation by the Office of Fair Trading.

In January 2007, the European Commission issued the results of a two-year inquiry into the retail banking sector. The report focuses on payment cards and interchange fees. Upon publishing the report, Commissioner Neelie Kroes said the "present level of interchange fees in many of the schemes we have examined does not seem justified." The report called for further study of the issue.[57]

On March 26, 2008, the European Commission opened an investigation into Visa's multilateral interchange fees for cross-border transactions within the EEA as well as into the "Honor All Cards" rule (under which merchants are required to accept all valid Visa-branded cards).[58][needs update]

The antitrust authorities of EU Member States other than the United Kingdom are also investigating MasterCard's and Visa's interchange fees. For example, on January 4, 2007, the Polish Office of Competition and Consumer Protection fined twenty banks a total of PLN 164 million (about $56 million) for jointly setting MasterCard's and Visa's interchange fees.[59][60]

In December 2010, Visa reached a settlement with the European Union in yet another antitrust case, promising to reduce debit card payments to 0.2 percent of a purchase.[61] 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.[63]

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

[dificanovi]

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 

this is bad news for bitcoin and all debit cards on bitcoin. all altcoin prices will drop as all debit cards in bitcoin are banned.
I am also sad to see this situation, many people who lose because their debit cards can not be used again.

[emuLOAD]

And in what way does this contradict what I stated, exactly?

You do realize that when VISA states they are not going to process cryptocurrency transactions, they are not talking about the pre-paid cards issued by third parties like Monaco? Those cards transact in fiat exclusively.

[cryptojoe]

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 

SO you lost your money?

[fargoway]

In view of this news then why is Visa looking for a Blockchain engineer.. 
https://usa.visa.com/careers/job-details.jobid.743999664785893.deptid.934140.html

[imteaz]

Don't worry, it's all temporary ban. Once they realize its potential and how many people using bitcoin, they will surely get into it. Also Visa is studying crypto currency and investing in it. So i believe they have a plan. just wait few months, hopefully we will see some new.

[Voiceofwisdom]

I don't understand why we have to use visa.
İs there a project someone knows looking forward to replace visa / MasterCard ? Omisego ?
Credit card coins are doing nothing.

[Dapper]

Hopefully one of the smaller card issuers will step up.  UnionPay, JCB, etc.  It was nice to be able to access my btc through the Cirrus and Maestro network... but frankly it'd be the same currencies being spit out by atms via other networks.  

[Dapper]

Visa is afraid.   They looked in the mirror and they see someone who looks like Nokia or Polaroid.   

[Kprawn]

Visa is afraid.   They looked in the mirror and they see someone who looks like Nokia or Polaroid.   

These giants do not scare easily my friend. They are sitting on a mountain of money to develop their own private Blockchain

based solutions. VISA will just hire some top Crypto currency developers {like Mike Hearn} and work on their own Blockchain

solution to this problem. The Banks are already doing the same... {The end-user will not see the difference} 

[henke1]

Visa and Mastercard Now Charge an Additional Fee for Buying Cryptocurrency
Using a Payment Card on Coinbase Becomes More Expensive
https://themerkle.com/visa-and-mastercard-now-charge-an-additional-fee-for-buying-cryptocurrency/
 

[sureshotcoin]

Visa is nt comfortable with Bitcoin and cryptocurrency actually visa want to be leader in payment processor it is high time for visa to start their own blockchain application

[adzino]

As far as i know, all cards issued by wave crest holdings are being closed. They have been ordered by VISA to stop their card services and have cut off their ties with wave crest. It has been mentioned that wave crest broke VISAs policy.
We might see new cards being issued by new vendors soon.

[swogerino]

I don't care much about VISA or other credit cards as they are not suit to be used with bitcoin, I only use bank accounts to exchange my bitcoin to FIAT or from FIAT to bitcoin. The problem that worries me is if this rage war will go to pass to payment processors who have the option to upload funds from bitcoin like Skrill. If Skrill bans uploading funds with bitcoin then I have to exchange through third party exchanges like Coinbase losing a lot in the exchange from bitcoin to FIAT.

And like me there are a lot of bitcoin users.