Visa CEO Charles Scharf Talks Tokenization, Which Could Help Drive Bitcoin Adoption
This last year there have been a large amount of financial data breaches in various banks and retail chains. Visa CEO Charles Scharf recently spoke about changing the way the credit card networks send and receive transaction data. What Visa is going to do is use a token system for transactions to close one more channels where data can be stolen. Charles Scharf was quoted on Pymts.com as saying: "Tokenization has opened up this whole world for us to be able to use digital devices to be a meaningful part of the payments flow in a way that (those payments) wouldn't have in the past," Scharf....
Related News
Global payments giant Visa earned the ire of the bitcoin community earlier this year when CEO Charlie Scharf stated that he didn't see bitcoin and its technology as posing a significant threat to its operations. Now, however, new comments from the CEO suggest that the company may be re-evaluating bitcoin. In a new interview with The Australian Financial Review (AFR), Scharf confirmed that while the company is not currently responding to developments in the bitcoin space, it could be well positioned to do so in the future, should circumstances require. Scharf told the AFR: "Visa is not a....
In response to a question regarding bitcoin asked by an investor during a conference call, VISA CEO Charlie Scharf essentially downplayed bitcoin by acknowledging that is interesting, but remains complex (to the ordinary user), according to PF Hub. Scharf reportedly pointed back to traditional payment networks, citing they're safer for consumers than getting involved with bitcoin and/or other virtual currencies. "The established network rules we have, the understanding of how things operate, understanding who the participants are, the fact that the business that we do has financial....
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....
1. ‘Visa Is Not a Currency. It’s a Network’ Sound familiar? On Monday, Diana Ngo reported on Visa’s stance that cryptocurrencies were not being seen by the company as competitors but something that Visa’s payments network could facilitate. “Visa CEO Charles Scharf admitted to looking for a way to make payments frictionless as well as developing technologies that would enable easier and faster payments of its users. ‘Payment works best when it is a non-event, it works, it's fast and nothing goes wrong.’” 2. Xapo Addresses Fees, Says It Will Offer Reimbursements On Thursday, Bogdan Ulm....
Payments giant Visa and financial services provider Tala have partnered to boost cryptocurrency adoption in emerging markets. The collaboration aims to “make it easier for underbanked consumers to convert, store, and use cryptocurrencies.” Visa and Tala Boosting Crypto Adoption in Emerging Markets Visa and Tala have formed a new partnership “to help underbanked populations participate in the crypto economy,” Tala announced Wednesday. Tala is “a financial technology company on a mission to enable and accelerate financial health for all,” its website....