Visa won't process Bitcoin & cryptocurrency transactions

[First77]

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.

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[trk]

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

[Sithara007]

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.

[jpnl0002]

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.

[Dico88]

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.

[First77]

Bitcoin and blockchain ignored the use of debit and credit cards for digital payments. Now Bitcoin is last in the line for digital money.

[cizatext]

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.

[Kaznachej123]

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.

[fulled]

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

[cizatext]

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.

[Zainal-baguz]

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.

[xbossJ]

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!!

[Bytem3]

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/

[DJ_Rick]

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

[ranman09]

...
who gives a shit if Visa is going to process cryptocurrency transactions or not. they don't need Visa at all.

Agreed why to ask this question to them in the first place. If they are like competitors this is probably what he will answer. I think it will be goodbye visa in the future or hello VISA Coin.

[livingfree]

How quick time flies? there's a change of heart for VISA's CEO.

https://www.ccn.com/visa-ceo-crypto-is-not-a-big-threat-but-if-needed-we-will-support-it/
https://www.cnbc.com/2018/10/25/visa-ceo-cryptocurrencies-not-a-near-term-threat-in-any-way.html
https://www.newsbtc.com/2018/10/26/visa-ceo-we-may-move-to-adopt-crypto-assets/

[Marbelli]

I fully agree that Bitcoin is a commodity and not a means of payment. It is very bad as a digital currency, so you should not consider it as money at all.

[bangkecol]

Visa is one of the biggest rivals of bitcoin, because equally as an alternative to digital payment instruments, I think it is impossible to happen about a visa to cooperate with bitcoin at any time.

[rodskee]

Well ofcourse that's impossible visa allowing to process bitcoin
Visa credit card is one of most pioneer in credit card use online banking system
Bitcoin or cryptocurrency is treat for visa processing via wire topped transaction
Possible to replace bitcoin fiat online visa transaction crypto allowed to combine into visa credit card

[richan]

In the interim visa won't process bitcoins but I can say that if bitcoins go mainstream in the future and the demand is so huge, there wouldn't be an option for visa but to process it on behalf of it customers.