Visa accept the existence and appeal of crypto

[MrSpasybo 1049]

Visa Inc. and BlockFi are teaming up to launch a new credit card that rewards users with Bitcoin (BTC), setting the stage for wider mainstream adoption of digital currency. 

The card, which carries a $200 annual fee, will be issued by Evolve Bank & Trust.

This isn’t Visa’s first foray into cryptocurrency. Earlier this year, the credit card company partnered with digital startup Fold to offer a debit card that earns crypto-based rewards.

More broadly, Visa has outlined a positive vision for digital currency adoption — reversing an earlier, more hostile attitude. Currently, there are more than 25 cryptocurrency wallets connected to Visa’s systems.

Article: Visa and BlockFi to launch Bitcoin rewards credit card as adoption grows

After PayPal, Visa, which is seen as the biggest rival of crypto in the cross-border money transfer market, is also approaching crypto. Of course, Visa says that crypto is an inevitable trend, instead of criticizing BTC's transaction speed is only 3tps and ETH is 15 tps while Visa's maximum speed is 24K tps 🙂
What do you think about this problem, is this a sign of a crypto triumph over traditional means of payment? Or is this just a mutually beneficial combination of both sides to access new users?

[huesca123 946]

@MrSpasybo Heres another article, similar to yours. But it comes from ZeroHedge.com, talking of the same as you posted. How there is a new Visa Card that will offer BitCoin Rewards. When the big corporations start to get involved with new technology, like BTC, its a strong sign that there is no going back & is getting accepted as a form of payment.

 

There Is Now A Visa Card That Offers "Bitcoin Rewards"

 

https://www.zerohedge.com/crypto/there-now-visa-card-offers-bitcoin-rewards

[tienda 8776]

Yes I have already heard about this Blockfi news and information. But I think right now, according to Blockfi website official this Credit Card will only be available to U.S. clients (excluding New York), but they have promised their users about updates to expanded product offerings in the future.

[sametbskya 92]

Visa has shown this interest for a long time and we can even issue cards just for bitcoin. There are even ATMs specially prepared for bitcoin. In time, everyone will have to learn the bitcoin system. The early start of the visa is an indication of this. For example, there are perfectly equipped visa cards on the crypto com exchange. I recommend you take a look.

[mzk7736 1592]

The acceptance of BTC by PayPal have lead to a competition between these wallets to acquire and accept cryptocurrency. The number of visa card users will certainly increase after this step.

[zagzag 320]

Already in November, Alfred Kellye, Visa's CEO, said that cryptocurrencies will play a much larger role in the post-epidemic global economy. In addition, Alfred Kelly announced that Visa is currently working with 25 cryptocurrency firms. On the other hand, Visa is currently working with platforms such as Coinbase and Fold.

[Abdulrahman3 1252]

This is the fate of all companies and banks around the world, recognizing cryptocurrencies, after adopting Paypal and Visa the cryptocurrencies, all companies and banks around the world will join them, and the enemies of cryptocurrencies will turn into their defenders, because whoever stands against the future will have no place in it, and the cryptocurrencies are the future .

[Dang3r 103]

Success also depends on knowing when and how to take advantage of opportunities, visa today is what was proposed thanks to having a good administration, they know that cryptocurrencies are an important part of the future of the virtual economic system, therefore they are taking the initiative to corner the market for cryptocurrency-based credit and debit cards

[Sykkuno 2887]

The tps for Bitcoin was known since the beginning, there were plans to fix this with the increase of block size but later it was decided to move on with second layer networks like Lightning and other private networks as Liquid. It should be soon that these networks will grow and have millions of tps.

[Obliv0n 333]

Sooner or later banks will begin to react to the "threat" that bitcoin represents for their business model and will surely be integrated into this phenomenon, however the crypto market is already creating its "banks" that although they do not have as much impact as the BBVA, for example, are safe.

[selfmade 7]

I think what visa does is what the banks and the governments are trying to do, since they can not eliminate the threat they are trying to play along but while wanting to destroy cryptoworld from the inside out and make it their own.

[zhoutong 2188]

Why do you think this is any kind of victory? This is a drawback in my opinion, a major defeat too as Visa was only competitor but was also ahead in technology of having a reliable system that can perform thousands of transactions. Bitcoin with decentralization proven a good competitor to Visa and the thousands of restrictions the transaction sector could have. Bitcoin had no restriction this is the difference. Having some credit card using swap to fiat doesn't mean anything.

[annayks 2314]

I don't know the exact terms of this deal, but this is something between Blockfi and Visa. What caught my attention is that this card has a $200 yearly fee!!! What is the card made of gold? This is unreal valuation and another reason the two systems shouldn't merge, for this instead of just using Bitcoin, you use between you and the other wallet, first Blockfi, then a card that is very expensive, then Visa too, and then the crypto has been converted to dollars and given to the merchant. We could make it even more difficult and have more banks and payment processors between.

[guatazoo 7150]

On 12/6/2020 at 1:31 PM, tienda said:

Yes I have already heard about this Blockfi news and information. But I think right now, according to Blockfi website official this Credit Card will only be available to U.S. clients (excluding New York), but they have promised their users about updates to expanded product offerings in the future.

Thats is how Americans always do, they need their projects to be used worldwide but they don't want others countries projects to be used within their country. For example Americans are not interested that much in bitcoin trading because bitcoin trading is not founded from them, thats why they have launched that unique feature of Visa and bitcoin. 

[merlina54 14]

For me, these large companies that are very well established in the market such as Visa, will not lose a great business opportunity such as the world of cryptocurrencies, the cryptographic market is growing day by day and for large companies like this we are potential clients, in addition that everything is a very well planned strategy that allows them to expand their own market.

 

And for us this means that conventional payment methods are gradually accepting the change that bitcoin represents for the world of economy and commerce.

[rekter 8129]

On 12/1/2020 at 8:54 PM, MrSpasybo said:

Visa Inc. and BlockFi are teaming up to launch a new credit card that rewards users with Bitcoin (BTC), setting the stage for wider mainstream adoption of digital currency. 

The card, which carries a $200 annual fee, will be issued by Evolve Bank & Trust.

....

I don't get it? $200 annual fee? That sounds really high.... Binance's Visa card is free and gives chargeback in bnb that you can convert to BTC if you want.

 

But i don't see Visa or paypal as any kind of competition. They really can't compete with bitcoin. It's like saying thay Visa is trying to compete with EUR. They aren't in competition with each other.

[Froshk 1828]

VISA has always been a step ahead when it comes to financial services and its acceptance of cryptocurrencies and it's constituents is just another win for the giant merchant company 

[yonkii 3205]

I thought that the point was to avoid using any of the middlemen that increase the cost of transactions. Visa being one for the bank sector, of course they want to be for the cryptocurrencies too. If this becomes dominant and lets say 90% of the transactions are performed using Visa network, then it will be pointless to use cryptocurrencies. 

[dio9s 28]

I personally have heard some things about these currencies, my friend will go out but will make it available to customers in the United States, nothing more, friend, I hope that in a while it will be friends for everyone.

[MrSpasybo 1049]

On 2/14/2021 at 3:36 PM, yonkii said:

I thought that the point was to avoid using any of the middlemen that increase the cost of transactions. Visa being one for the bank sector, of course they want to be for the cryptocurrencies too. If this becomes dominant and lets say 90% of the transactions are performed using Visa network, then it will be pointless to use cryptocurrencies. 

I do not think that Visa or PayPal will be intermediaries in crypto transactions, they will become companies that accept crypto, or a bridge allowing general users to access, own and use crypto more easily. The adoption of major players in the traditional finance industry has helped the price of BTC grow so spectacularly in the past 2-3 months.

[Cleaner 2549]

I read the news by clicking on the information link.  Visa and blcokfi have launched a credit card they work together.  The advantage of this is that it will carry a fee of $ 200 per year. As a result, it will be profitable for Bitcoin users.  And Bitcoin's users and acceptance will increase.

[RoyalHouse01 9]

I think there will no time when the Visa will start accepting the cryptocurrency for the users and it will be more useful for us to make the payments from visa card than any other way online.

[MrSpasybo 1049]

On 2/24/2021 at 6:45 AM, Cleaner said:

I read the news by clicking on the information link.  Visa and blcokfi have launched a credit card they work together.  The advantage of this is that it will carry a fee of $ 200 per year. As a result, it will be profitable for Bitcoin users.  And Bitcoin's users and acceptance will increase.

@Cleaner Everything is progressing in a very positive direction. Visa just announced will accept payments in USDC on Ethereum. This will have a bigger impact on entire crypto market in near future.

[Samer1997 715]

I think that it is a mutually beneficial combination for both sides, that is, when both Visa and Paypal support the field of cryptocurrencies, this increases the number of PayPal users and certainly increases confidence in the world of cryptocurrencies and thus the profit is achieved for both parties

[MrSpasybo 1049]

7 hours ago, Samer1997 said:

I think that it is a mutually beneficial combination for both sides, that is, when both Visa and Paypal support the field of cryptocurrencies, this increases the number of PayPal users and certainly increases confidence in the world of cryptocurrencies and thus the profit is achieved for both parties

+

@Samer1997 Yeah, just like you said. Any cooperation is based on the interests of both parties. PayPal & Visa saw the potential of crypto, so they decided to support it. Crypto is promoted and accessible to more users, and Visa & PayPal get the attention of the community, the more potential customer file, and the additional source of income.
Hopefully many other financial companies soon realize this as well to join crypto support. Crypto will not disappoint them.