Visa CEO: Bitcoin Is Not a Payment System

January 18, 2018

Visa CEO: Bitcoin Is Not a Payment System

Payment card giant Visa is not going to touch the most popular cryptocurrency in the world, Bitcoin, and does not consider it money. Company's CEO Alfred Kelly told it in an interview with CNBC.

Kelly said:

"I don't view it [Bitcoin] as payment system player".

Despite the fact that the level of Bitcoin adoption is constantly growing, one's options to use it are still very limited, the head of Visa assures that the company is not going to process Bitcoin transactions.

He told:

"We at Visa won't process transactions that are cryptocurrency-based. We will only process fiat currency-based transactions."

Kelly is also very sceptical about Bitcoin due to its instability. It's hard to argue him, especially if you pay attention to BTC rate dynamics. A month ago it exceeded $19,000, but after that it started to fall and recently in fell even below the level of $10,000.

It is noteworthy to remind, that recently Visa ceased its cooperation with a card provider WaveCrest which was issuing Bitcoin debit cards. After the decision several European cryptocurrency debit card providers, such as CryptoPay, Bitwala, TenX, were forced to stop their operation in Europe. However, Visa made this decision not because of Bitcoin, but because WaveCrest violated Visa's policies. 

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