10 Sep

Santander Believes That Bitcoin And The Blockchain Network Will Threaten Credit Card Suppliers

By Daniel Zo Banks, Bitcoin, Blockchain, Credit Cards, Santander Read Comments

According to a recent research paper published by the Santander Bank, the rise of bitcoin, and its underlying technology, the blockchain, can end up having a strong impact on the card market, by hurting both acquirers and issuer banks, but benefitting credit and debit card emitters such as MasterCard and Visa.

The paper, which is mostly focused on the Brazilian market, warns that the region’s largest debit and credit card operator, Cielo, will be negatively affected if bitcoin adoption grows. In fact, researchers at the Santander Bank believe that the entire business models of both Cielo and other similar firms will be challenged, due to numerous merchant discount rates and the POS revenues.

Read More
11 Oct

Can Bitcoin debit and credit cards make the digital currency mainstream?

By Daniel Zo Bitcoin Credit Card, Blockchain Read Comments

Today, we’re going to discuss about the aspects which are most likely to take Bitcoin mainstream, and transform it into the financial system that it has the potential of becoming.

To kick things off, reports have shown that the amount of active bitcoin wallets, but also the number of daily transactions have increased considerably over the past year. However, regardless of this, it seems like most people haven’t even heard about bitcoin, or have a vague idea about the currency. This isn’t okay, considering the fact that bitcoin is the currency of the internet, and billions of people have access to the network.

Read More
30 Jul

Why credit card companies fear Bitcoin

By Zachary Gruskin Bitcoin, Credit card Read Comments

Credit cards have become the most popular medium for exchanging money in today's society. The largest credit card company is Visa, and they process $15 billion of transactions per day on average, with a total yearly volume near $5 trillion. Visa accounts for 40% of the credit card market, so the total amount of money transacted via credit cards easily exceeds $10 trillion each year. This is nearly as much as the gross domestic product (GDP) of the United States.
Read More

Welcome! Should you have any questions, please don't hesitate to ask here.
Typing ...
Chat started