Source: independent.co.uk
VISA locked down pre-paid cards, the cards issued by BitPay, Cryptopay and Bitwala were suspended as of January 5 and are no longer viable for payment.
The cards were pre-paid using cryptocurrencies like bitcoin and ethereum. BitPay confirmed the suspension saying "Yesterday our European BitPay card issuer received direction from VISA to immediately close all accounts of its prepaid VISA debit programs". Cryptopay announced that all funds would be returned to users and they also issued a statement advising their card issuers instructed them to cease their prepaid card program. Bitwala only stated that they are holding an emergency meeting to get the issue resolved.
Since this action just occurred today, there is no information as to the reason VISA ordered the shut down. More to follow.
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Thank you for reading.
Thanx for sharing the news, why did they shut the prepaid cards down?
Where people having too much fun or what? =)
Since it just happened today, there is no news on why they shut it down but you're probably right, people were having too much fun. lol
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