Visa CEO Doesn't See Bitcoin As Business Threat
Visa CEO Charlie Scharf offered his opinion of bitcoin and other emerging virtual currencies on 30th January in a conference call discussing Visa's first-quarter fiscal earnings. "There are certainly some interesting things about bitcoin and other things like it, but there are also a great deal of complexities," Scharf said. The 48-year-old payment company head went on to state that more traditional payments systems are safer for consumers as they have "established network rules" and an "understanding of how things operate". Perhaps most notably, Scharf suggested that Visa is not actively....
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Credit card processing company Visa is exploring the usages of bitcoin and blockchain technology in payment applications. The company is conducting its research through its innovation labs, which are focused on improving the Visa Checkout and mVisa products. Prior to this, Visa has said that it doesn't see blockchain technology as a threat to its current operations but that the company might support bitcoin as a payment method. "India will soon have teams that will jointly work with our two research labs in US and Singapore in studying the many aspects of blockchain," said Visa executive....
Monopolizing a market is legal in some instances, but not others. The United States Department of Justice is filing suit against Visa for its acquisition of Plaid, which the DoJ argues is an illegal play to achieve monopoly. According a complaint filed by the DoJ on Wednesday: "Visa seeks to buy Plaid — as its CEO said — as an 'insurance policy' to neutralize a 'threat to our important US debit business.' By acquiring Plaid, Visa would eliminate a nascent competitive threat that would likely result in substantial savings and more innovative online debit services for merchants and....
Visa is working on a blockchain-based solution for cross-border, business-to-business exchange called Visa B2B Connect. Cross-border payments between businesses is a complex market that is fraught with problems but is lucrative nonetheless, a potential that Visa seems eager to tap into. Visa Unveils its Collaborative Project. Visa, in collaboration with tech start-up, Chain Inc., unveiled the project on October 21, 2016. Chain, a startup that Visa happens to be an investor in, has also worked with Google, Salesforce, Microsoft, Square, and among others in the past. Visa B2B Connect seems....
Leading global credit card processing firm Visa will soon begin researching bitcoin and blockchain technology, according to a new report. Speaking to LiveMint, the online division of India's second-largest newspaper, Visa executive vice president of technology Rajat Taneja indicated that the research will take place in the company's innovation labs, which are focused on improving its Visa Checkout and mVisa products. The announcement follows a period of indifference from the credit card giant, which has formerly stated it does not see the technology as a business threat, while....
According to a recent article, Visa is aiming to maintain its dominance one way or another. Collab, an arm of Visa Europe, is investigating Bitcoin-oriented companies that could disrupt their business model ultimately. Visa is not against ultimately updating its methods to remain competitive if other technologies such as Bitcoin come along and accomplish the same task, only cheaper. Visa told the International Business Times: Take something outside of that - who is going to regulate it, authenticate it? If we skip a heartbeat of settlement here - can you imagine us saying: 'We can't settle....