Thanks for this topic I have some information on it
Visa, a provider of financial services and a $ 270 billion credit card network, has terminated its existing companies with Gibraltar's Wave Crest Digital Payment Processing Company, resulting in complete disruptions to the coin and digital discount cards.
Users of TenX, Xapo, Coins.ph, Bitwala, BitPay, CryptoPay
All debit and debit card service providers (TenX, Xapo, Coins.ph, Bitwala, BitPay, CryptoPay) have been affected by the decision taken by Visa against Wave Crest as all DSP providers were fully dependent on the partnership between Wave Crest And Visa to complete their processing of digital payments. This rapid termination of the partnership has also led to a sudden suspension of premium currency discount services offered by many companies in the digital currency sector. Visa stated in this regard:
"We can confirm that Wave Crest's partnership with Visa has been terminated because of its incompatibility with our operating rules. All Wave Crest Visa card programs will be closed as a result. The termination of the Visa Crest visa will not affect other Visa card programs, including those using paper money converted from digital currencies " @zer0hedge
Visa is a prime example of a middle man which is going to be eliminated.
The more they fight it, the worse it will be for them.
At some point, as more cryptocurrency gets in the hands of people, Visa will become useless. Facilitating payment is not needed when you have crypto especially the visa debit cards. That will be done in a few years.
We won´t get rid of the old world too fast as that´s just a task that´ll take years to get done but I agree that middleman like VISA will disappear pretty soon already as there´ll be new ways to handle your money. Maybe through crypto debit cards that just send your coins after you swiped :)
Also I've been. @faissalchahid
Let all the multi-million users of Xapo, TenX, BitWala, BitPay know that they are no longer able to use their digital debit cards. Xapo, which has one of the most widely used bitcoin pads, told users in an official statement that it would find new ways to re-issue its digital debit card. Anni Rautio, president of Xapo Discount Cards