While the journey to make cryptocurrencies go mainstream today is being championed by many entities, and payment service company, Visa Inc’s latest revelation may help accelerate the long-sought global acceptance of Bitcoin (BTC) and other altcoins.
Visa Integrates with Bitcoin Wallets To Permit Purchases
Visa CEO, Alfred Kelly said that the firm will partner with Bitcoin wallets to allow the acquisition of BTC in more than 70 million terminals where Visa card is accepted. To a very large extent, Visa has a blockchain agenda, and it ranks as one of the world’s top payment services firms helping to drive and expand the use-cases of blockchain products and cryptocurrencies in general.
According to the Visa boss, customers will be able to buy Bitcoin with either their credit or debit cards. Additionally, the company’s current integration of technical capabilities with Bitcoin wallets will enable direct and easy conversion of BTC into any Visa-backed fiat currency, boosting their use across the various Visa payment terminals across the globe.
As of today, Visa has a functional partnership with about 35 cryptocurrency companies that are issuing crypto-backed Visa cards, and there are plans to grow this number, as the entire cryptospace is developing.
How Visa’s Plans Will Usher in Growth
Today’s mobile payment ecosystem has few prominent names of which Visa is one. There are currently more than 2.5 billion Visa cards in use according to data from the company. The primary means notably being advocated to get virtual currency products across to more people is through the network of such financial service providers, with a diverse organic users.
Making cryptocurrencies an alternative option to embrace for all of Visa card users will do more in helping non-crypto-savvy people to gradually explore how the emerging payment ecosystem works. Visa’s role will help eliminate the hassle of onboarding people afresh to use cryptocurrencies for payments and other yet-to-be-discovered use cases.