Payments Industry Association: Bitcoin Has a Right to Exist
The CEO of the Electronic Transactions Association (ETA), which can boast giants such as MasterCard, Paypal and Amazon among its members, believes that, while the technology has yet to fully mature, bitcoin could one day offer advantages for the payments industry. Jason Oxman told the Wall Street Journal that the industry is undergoing profound change, with the arrival of new mobile payment systems and services that are backed by numerous technological advances in the field. Oxman indicated that he is enthusiastic about the rise of mobile transactions, biometric authentication and other....
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Due to bitcoin's perceived benefits as a more efficient and less costly alternative to traditional payment options, many in the digital currency industry view incumbent payment service providers as antiquated competitors - firms that will be disrupted out of business when the technology matures. Now, at least one notable payments industry trade association indicates that its members may be recognizing that bitcoin possesses this disruptive potential, and that this may soon lead to a rise in partnerships between traditional electronic payments providers and bitcoin startups. In an interview....
The ATM Industry Association (ATMIA) has published a report titled "An Introduction to Bitcoin ATMs", providing the industry's first in-depth view of bitcoin and its implications for the ATM world. The ATMIA commissioned the report, which was written by Tremont Capital Group, a leading consulting firm specializing in the ATM industry. "We've been asked as an industry body to comment on the significance of bitcoin and digital currencies to the ATM and cash industries," said Mike Lee, the association's CEO. "This paper is our first report of many which will enable us to draw some logical....
San Francisco-based Ripple Labs, the startup behind the digital payment network Ripple, has joined the International Payments Framework Association (IFPA). The Association, whose members include the likes of ACH, NACHA and SWIFT, provides rule sets, best practices and guidance on how to improve cross-border payments. Nilesh Dusane, director of business development at Ripple Labs, said that the company was
A recently established crypto industry association in Iran has commenced activities under the country’s chamber of commerce. Its management hopes to help remove obstacles challenging its members while facilitating the implementation of blockchain technology in the sanctioned nation’s economy. Industry Association to Address Blockchain-Related Challenges in Iran The newly-established Iran Blockchain and Cryptocurrency Association (IBCA) has started operating under the supervision of Iran Chamber of Commerce, Industries, Mining and Agriculture (ICCIMA), the English-language....
Global financial services association BAFT is set to drive bitcoin and blockchain awareness with the launch of its new FinTech scheme. The association, which deals with a wide range of topics affecting transaction banking, launched the initiative in an attempt to draw attention to the various innovative technologies that are currently transforming services such as cross-border payments and trade finance. Tod Burwell, BAFT president and CEO, said: "Emerging technologies such as blockchain technology, distributed ledgers and virtual currencies are redefining how supply chains operate and....