How safe are visa payments

Visa: Payments come via cryptocurrency

Support from USD Coin

With the Visa card you will soon be paying by cryptocurrency.
Support for cryptocurrencies continues to grow. Payment service provider Visa will soon be able to pay with virtual money.
More and more large companies are opening up to the idea of ​​cryptocurrencies as a means of payment. In addition to Tesla, Mastercard and many other companies, the payment service provider Visa is now daring the next foray in this direction. As the news agency Reuters reports, the company plans to enable payment with the crypto currency USD Coin shortly. A pilot project is currently running with the payment and crypto service provider Crypto.com. So far, payments with his Visa card were first converted from the respective cryptocurrency used into real money and this was deposited in a bank account. This resulted in additional transaction costs. In future, this effort should no longer be necessary. Visa uses the Ethereum blockchain to implement the service and cooperates with the US crypto bank Anchorage.

Bitcoin price rises after announcement

By introducing the service, the company is responding to growing consumer demand for the ability to buy, hold and use cryptocurrencies. With the new service, Visa wants to give companies the opportunity to offer corresponding products. After the successful completion of the pilot project, the plan is to offer the service to other partners at the end of 2021. The USD Coin is a so-called stablecoin. The value of the currency is directly linked to the value of the US dollar. Although cryptocurrencies like Bitcoin only benefit indirectly from the new Visa service, the price of cyber money rose by 4.5 percent as a result of the Visa announcement.
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