2018-01-05 — cnbc.com
Visa ended its relationship with a large cryptocurrency card provider on Friday, causing thousands of people's transactions to be declined and scrambling to figure out how to access their money.
Wavecrest provided its services to a number of crypto-card companies, including Bitwala, Cryptopay, Wirex and TenX. These companies convert people's cryptocurrencies into cash that is loaded on to a prepaid card, allowing people to use the currency for everyday transactions. Now these cards are invalid.
Why help the competition, apparently! This is a big gambit by Visa, though -- the next step is for people to simple deprecate cards entirely and start using smartphone-based payment at retail locations (which already has a toehold)...
Comments: Be the first to add a comment