CEO of Visa : Bitcoin is not a payment method

Visa, the largest credit card company in the world, is considered to be hostile towards the Bitcoin. It would seem that a provider of mainstream financial services should look unkindly anything that threatens its hegemony. Publicly, however, the company had no comment to make on the Bitcoin, preferring to focus on issues falling within its own domain.

Below for further details regarding this interview :

In an interview with CNBC Wednesday, the company’s CEO has broken his silence, saying in a predictable way that the Bitcoin is not a payment system.

The words of the CEO of Visa

In an interview, recorded at the conference of the National Retail Federation in New York, the CEO of Visa was asked about the Bitcoin. He said that he does not consider this technology as a payment system. For Visa, they do not deal with the transactions related to crypto-currencies, he said. They only process the transactions based on currencies fiat, has added the CEO of Visa.

Source : Pixabay. The position of the CEO of Visa compared to the Bitcoin.

This corresponds to the shares of the subsidiary of Visa, Wavecrest, which has stopped the debit card services to dozens of companies operating in the field of digital currencies in Europe. At the time, Visa has denied that the threat posed by the crypto-currency was important. The company has stated categorically that the irregularities of the part of the customers of Wavecrest. Visa said that the card cryptographic had been suspended due to continued non-compliance of their rules of operation.

The Bitcoin as a financial asset

The CEO of Visa stated that according to him, Bitcoin is a lot more today as an asset in which a user may invest. He viewed it as a product of speculation. Given that the Bitcoin has become unusable for day to day shopping, this is an argument that has merit.

While Altcoins such as Bitcoin Cash can be used for micro payments, the market of crypto-currencies as a whole has not yet threatened the supremacy of Visa.

Source : NewsBitcoin

  • orphevs

    Fully reason, have to be pretty damn stupid at the time to pay in Bitcoin given the £ 15 in fees and the transfer time is endless, especially as some of the Altcoins are resolve all these problems and much more.

  • Bousquet

    Ah, because the visa card is a payment method ? First new. Visa who wants to remove the bank note ? Let me laugh a little. No map can replace the money is a fiduciary currency. That is to say, which is endorsed by the states, guaranteed by the central banks. Especially that these cards visa and others are very expensive ( agio and other care expenses ).

    • Reg

      Attention central banks are in the process of program the end of in the cash to the horizon 2026-2030, read the texts of the ECB in this direction. The banks want to remove the cash money to manage your assets. Already the ECB removes the guarantee of 100000€ in case of bankruptcy of a Bank and allow them to seize the savings of their client ( already experienced with Malty) the crypto currencies become the only alternative to this new dictatorship. This is why you see the endless attacks against the crypto

      • Zied Belhadj Miled’s Thoughts

        there will always be pieces in gold or silver if one wants to hold the physical assets. Need to invest a small part of its reserves over