After Paypal, the company Mastercard has just announced that it will soon be accepting payments in cryptography. These virtual currencies issued peer-to-peer « are becoming, whatever you think, more and more important in the payment industry. It’s a fact, » said Raj Dhamodharan, the company’s executive vice-president.
Mastercard is therefore in the process of developing « crypto cards » that will enable its customers to carry out transactions using their own cryptography. « There is no incentive to start using virtual currencies, » says Raj Dhamodharan, « but we want to enable consumers and businesses to use their money as they wish.
Will Bitcoin be affected?
Please note, however, that not all crypto-currencies will be accepted. Indeed, Mastercard points out that « of the hundreds of virtual currencies in circulation, many do not meet our compliance requirements ». Several observers are therefore wondering whether Bitcoin will indeed be concerned.
Bitcoin has regularly been criticised by specialists for its value which is difficult (or even impossible?) to define. And consequently… for its volatility. In 2017, Bitcoin had thus bloomed with 20,000 dollars before falling to 3,200 dollars a year later.
Nevertheless, several heavyweights in the industry have recently adopted cryptomoney. Paypal, which recently allowed its customers to buy and pay by Bitcoin, talks of a necessary evolution. All forms of money are based on trust, and their value is derived from trust, » says the company’s CEO.
Moreover, he adds, « the use of cash has declined sharply with the pandemic. Some 40 to 70 percent of consumers no longer want to handle cash. So there is a clear move towards digital payments and different forms of currency.
According to him, it is only a matter of time before the banks themselves take the plunge.
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