Cryptocurrency issues swirling around credit card companies continued this week, with Discover card announcing its customers that they would not be able to shop with cryptocurrencies.. This is the latest development in blocking access by credit card contractors.
Discover Clears Doubts: No Place for Cryptocurrency
Discover’s 56-year-old CEO David Nelms
strong> to Jennifer Suane:” Scammers trying to extort money from China or elsewhere. Or if someone gets our credit card number they will demand payment in Bitcoin. These are the examples I can think of right now.” he explained, and rejected the cryptocurrency. “Our customers are not burning for cryptocurrencies either!” he also stated.
Discover card holders are known to wander around the forums asking for the opinions of those who have exchanged cryptocurrencies. Their answer is clear: not possible.. Mr. Nelms removes all the mystery about this situation.. Discover doesn’t want anything to do with decentralized money.
The company has been around for 30 years. With 44 million customers, Discover is on the list of America’s 5 most popular credit cards, coming after Visa, Mastercard and American Express.
Capital One: “Currently in crypto money purchases we do not accept credit card. As this sector grows, we will reevaluate the policy we will follow.” he tweeted. Breitbart didn’t elaborate on them later.
“Capital One currently does not accept credit card transactions for cryptocurrency purchases due to restricted terms, increased fraud, loss and market volatility.. Capital One continues to closely monitor developments in the cryptocurrency industry and the stock market and will reassess its decisions as the industry evolves.”
Both of these are cryptocurrencies as Visa shuts down European markets.
Beyond the ultimate fear of competition, one theory is that government obligations and regulations, such as the fight against money laundering, are making it harder for credit card companies and banks to use cryptocurrencies.
Whatever the case If Discover’s 4. quarter profits fell by more than 30%, but this was probably an event independent of their rejection of cryptocurrencies. Sooner or later, with the economic regulations made in a more free environment, customers will be aware of their choices, and 44 million users who cannot access bitcoin and other digital currencies will be able to make different demands. Join our Telegram channel for