Visa launches cryptocurrency micropayments service
The Visa company, whose annual turnover already amounts to 4.8 trillion dollars, launches the service of cryptocurrency micropayments, together with the Bitcoin startup SatoshiPay.
The company Visa, which since the invention of Bitcoin in absentia ranked as the enemies of the cryptocurrency fraternity , has launched not the first experimental project involving Bitcoin and Blockchain.
The confrontation between Visa and cryptocurrencies has nothing to do with competition and has ideological roots. If you remember, in the midst of the conflict between the governments of different countries and Wikileaks, many financial organizations chopped off making payments for this organization and, in particular, for the guru of cryptobank Julian Assange. (Visa, for example, blocked making payments back in 2010). Naturally, Wikileaks, an organization that lives at the expense of charitable assistance, immediately began to experience known difficulties, including server failures. However, now the server Wikileaks continue to work, and the resource itself continues to operate, not least thanks to cryptocurrency. This turn of events has become a key point in the history of Bitcoin, since, due to the impossibility of making payments in other ways, many have turned their eyes to cryptocurrencies someone went further, adding to the ranks of crypto-anarchists, and Bitcoin became the main source of funding for Wikileaks. Litigation over the inability to make payments for Wikileaks through other payment platforms is still ongoing.
However, despite the ideological feuds and the common position of traditional payment services that do not recognize cryptocurrency as money, from the middle of last year, Visa plunged into the process of actively studying cryptocurrency payments for devices with Internet access, and today the innovative division of Visa Europe together with SatoshiPay micropayments service working on the creation of experimental software that will combine the two payment systems.
According to the founder of Bitcoin startup Meinhard Benn, micropayment technology is planned to be integratedwith the technology of payment by Visa card, which will allow you to make automatic micropayments from the card to the bitcoin wallet SatoshiPay. According to him, the project aims to "introduce a safer method of buying Bitcoin in small amounts using debit and credit cards."
Benn also said that Visa and Bitcoin startup SatoshiPay are planning to conduct a joint study of the user audience on the topic of micropayments for Internet content.
For Visa, this is not the first cryptocurrency project. In February of this year, the company introducedMicrotransactions software package (MTX), which is still available only in test mode. One of the main advantages of the future product, according to the description, is the ability to “attract buyers to operations in virtual currency thanks to bonus points.”
Last year, the company introduced the concept of a payment blockchain application developed in collaboration with Epiphyte.
Against the background of numerous statements by representatives of the traditional payment transfer industry, such as MoneyGram and Western Union, claiming that digital currencies and blockchain-based systems will not be able to solve existing problems (due to regulatory difficulties and strong customer commitment to traditional physical money), Visa continues to explore field of cryptocurrency initiatives.
And while the addition of a cryptocurrency service to a very traditional system looks quite ridiculous, however, in our opinion, such a development vector is an indisputable evidence that the future belongs to cryptocurrencies and the process of their integration with traditional payment platforms has already been launched.
Mine is not too late:
The company Visa, which since the invention of Bitcoin in absentia ranked as the enemies of the cryptocurrency fraternity , has launched not the first experimental project involving Bitcoin and Blockchain.
The confrontation between Visa and cryptocurrencies has nothing to do with competition and has ideological roots. If you remember, in the midst of the conflict between the governments of different countries and Wikileaks, many financial organizations chopped off making payments for this organization and, in particular, for the guru of cryptobank Julian Assange. (Visa, for example, blocked making payments back in 2010). Naturally, Wikileaks, an organization that lives at the expense of charitable assistance, immediately began to experience known difficulties, including server failures. However, now the server Wikileaks continue to work, and the resource itself continues to operate, not least thanks to cryptocurrency. This turn of events has become a key point in the history of Bitcoin, since, due to the impossibility of making payments in other ways, many have turned their eyes to cryptocurrencies someone went further, adding to the ranks of crypto-anarchists, and Bitcoin became the main source of funding for Wikileaks. Litigation over the inability to make payments for Wikileaks through other payment platforms is still ongoing.
However, despite the ideological feuds and the common position of traditional payment services that do not recognize cryptocurrency as money, from the middle of last year, Visa plunged into the process of actively studying cryptocurrency payments for devices with Internet access, and today the innovative division of Visa Europe together with SatoshiPay micropayments service working on the creation of experimental software that will combine the two payment systems.
According to the founder of Bitcoin startup Meinhard Benn, micropayment technology is planned to be integratedwith the technology of payment by Visa card, which will allow you to make automatic micropayments from the card to the bitcoin wallet SatoshiPay. According to him, the project aims to "introduce a safer method of buying Bitcoin in small amounts using debit and credit cards."
Benn also said that Visa and Bitcoin startup SatoshiPay are planning to conduct a joint study of the user audience on the topic of micropayments for Internet content.
For Visa, this is not the first cryptocurrency project. In February of this year, the company introducedMicrotransactions software package (MTX), which is still available only in test mode. One of the main advantages of the future product, according to the description, is the ability to “attract buyers to operations in virtual currency thanks to bonus points.”
Last year, the company introduced the concept of a payment blockchain application developed in collaboration with Epiphyte.
Against the background of numerous statements by representatives of the traditional payment transfer industry, such as MoneyGram and Western Union, claiming that digital currencies and blockchain-based systems will not be able to solve existing problems (due to regulatory difficulties and strong customer commitment to traditional physical money), Visa continues to explore field of cryptocurrency initiatives.
And while the addition of a cryptocurrency service to a very traditional system looks quite ridiculous, however, in our opinion, such a development vector is an indisputable evidence that the future belongs to cryptocurrencies and the process of their integration with traditional payment platforms has already been launched.
Mine is not too late: