During a recent interview, Visa CEO Alfred Kelly says that Visa will not directly accept bitcoin.
"We at Visa won't process transactions that are cryptocurrency-based," he said. "We will only process fiat currency-based transactions."
Kelly claims that the fluctuating price of Bitcoin confuses people when it comes to 'buy ahead' kinds of purchases such as airline tickets.
Kelly said he currently views Bitcoin as a "speculative commodity" and not a payment system.
Visa recently terminated its partnership with Wave Crest (a digital payment processing company), effectively disabling bitcoin and cryptocurrency debit cards.
What kind of impact on the market do you think that this announcement will have, if any at all? Why?
Congratulations @dlmarie! You received a personal award!
Happy Birthday! - You are on the Steem blockchain for 1 year!
Click here to view your Board
Congratulations @dlmarie! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Vote for @Steemitboard as a witness to get one more award and increased upvotes!