Visa to activate Bitcoin payments for 70 million merchants

Visa intends to follow in PayPal’s footsteps and adopt Bitcoin payments.


The company’s CEO, Alfred Kelly, told a podcast that the payment processing company is willing to facilitate not only bitcoin purchases, but also operating costs:


“We are trying to do two things. One is to trigger the Bitcoin market with Visa credentials. And, second, to work with Bitcoin wallets to allow Bitcoin to be translated into a fiat currency and therefore to be used in any of the 70 million locations around the world where Visa is accepted.


According to Kelly, Visa is working to gain a foothold in financial transactions, even as Bitcoin becomes more widely accepted. In addition to Bitcoin, the company also aims to permit the use of stablecoin.


He acknowledged that the company recognises “a strong potential for them to evolve into a new payment vehicle”.