Visa is putting all its efforts into fulfilling its ambition which includes ensuring that it takes what it can while the crypto fad is there and that it becomes a virtual payment leader to the vendors when cryptocurrencies will become the norm of the world. For this purpose, Visa has entered into contracts for mutual cooperation with 60 crypto trading platforms which are all leading and the industry’s topmost firm.
While giving an interview to NDTV, Visa Inc.’s Digital Currency Sector’s Head, Cuy Sheffield, made some intriguing revelations about Visa’s future plans. He told NDTV that Visa Inc. is currently the best electronic payment company in the world which is serving more than a billion individual customers around the world. He further said that the company on its own took the opportunity of business directly to the vendors. This is why today Visa Inc. has more than 80 million merchants/vendors as its business partners.
Sheffield said that the world as well as the usual financials are evolving. Digital currencies have emerged as a viable business opportunity and returning high yields. He said that Visa wants to be the pioneer in bringing closer digital currencies and the merchants/vendors. For this purpose, he suggested that over the past one and a half years, Visa Inc. has doubled its workforce. Not only the employees have been increased by 100% but in fact, the business has been expanded vividly. He told that since Visa has embraced digital currencies, it has been building digital transaction networks with its 80 million merchants/vendors.
It was told by Sheffield that recently, Visa Inc. has penned down partnership arrangements with at least 60 crypto entities. These entities include both, the biggest as well as top 60 leading crypto trading firms. Within these firms, Sheffield specifically mentioned the names of a few firms such as Coinbase, FTX, Crypto.com, Binance, and Blockfi.
Furthermore, Sheffield told that Visa Inc. will now be issuing electronic payment cards to each and every customer of these 60 firms. Everyone will then be free to access more than 80 million merchants across the globe at any time of the day. The crypto trading firms’ customers would then be able to purchase or even acquire goods and services against payments made in digital currencies. He clarified that there shall be no conversion charges taken from the Visa cardholders.
As regards the accessibility of merchants, Sheffield told that the merchants include also grocery stores, food stores, laundry, etc.
Visa Inc. is the number one company in the world when it comes to transacting payments through electronic means. It has more than 80 million merchants only spreading in each and every part of the world. In addition, it has been working with 15 thousand banks and so providing payment solutions to crypto owners makes a lot of sense.