Blog

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