In order to allow users to make transactions in real time, the social network X signed an alliance with the credit card issuing company Visa for the launch of its own payment platform XMoney.

The CEO of the social network, Linda Yaccarino XMoney, said that the XMoney platform “works like a digital wallet and allows real-time transactions between individuals.”

Yaccarino added that Visa is its “first partner for the @XMoney account, which will launch later this year” and detailed that users will have the opportunity to “transfer money from their bank account to the XMoney digital wallet and connect their debit card to make real-time peer-to-peer payments (working like Venmo or, in Spain, Bizum) through Visa Direct, a company service for making instant transactions.”

Likewise, the platform’s customers will be able to deposit funds from their digital wallet to their bank account.

With this negotiation, the social network owned by Elon Musk advances in its purpose of offering users solutions to make payments and store funds without external intermediaries.

M.Pino

Source: contrapunto

(Reference image: BoliviaInteligente on Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on X/Twitter and Instagram

La entrada Social network X to launch payment platform in partnership with Visa apareció primero en Bitfinance.

Spanish bank BBVA announced that it is working on its own stablecoin with the support of credit card issuer Visa.

According to Francisco Maroto, head of digital assets and blockchain, the bank is ready to join the stablecoin market, although it is not yet known “if the asset will be backed by deposits, market funds or fiat currencies.”

BBVA is in the testing or sandbox phase, “within a Visa program designed to facilitate the creation of tokenized assets, called Visa Tokenized Asset Platform (VTAP).”

The bank plans to move towards the prototype stage to begin live operations in 2025. At the moment, it has not been announced whether the stablecoin will be backed by “bank deposits, money market funds or fiat currencies such as the euro or the US dollar.”

According to Maroto, the goal of BBVA’s stablecoin is to be used in the settlement layer of cryptocurrency exchanges. “We realized that blockchain technology can revolutionize the way we exchange value digitally and, consequently, change the way the financial system works,” the official told Fortune.

Regarding the decision to partner with Visa, he highlighted that they evaluated the company’s prestige and its adherence to European regulations, alluding to the MiCA Law.

Moroto hinted at the possibility of BBVA launching its own euro-based stablecoin, thanks to its extensive presence in Europe, and that it be used in “settlement in markets that offer tokenized assets, with BBVA managing the minting and burning processes to integrate these ecosystems.”

It is important to remember that the Spanish bank already offers custody and marketing services for “bitcoin, ether (ETH) and USD Coin (USDC) in Switzerland for private and institutional banking clients, and is currently seeking to expand into Turkey.”

M.Pino

Source: iProup

(Reference image source: Michael Förtsch in Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada BBVA to join stablecoin market in partnership with Visa apareció primero en Bitfinance.

Major cryptocurrency exchange Binance reinstated the purchase of assets with Visa and Mastercard cards via bank transfers.

According to the information published by the platform, the service was restored for “a maximum single purchase of up to 5,000 euros, for an approximate value of USD 5,440 for transactions based on euros, and up to USD 20,000 for purchases based on US dollars.”

Crypto made easy—buy and sell with ease. 🤌

Use Mastercard, Visa, or SEPA, for bank transfers, and experience smooth transactions!

Try it now 👉🏻 https://t.co/shCZx59fi3 pic.twitter.com/05pzOC3sjh

— Binance (@binance) June 6, 2024

Card operations on Binance were suspended on December 20 in the European Economic Area (EEA) due to regulatory measures and after problems arose with the payment processor Paysafe, which abandoned the platform.

In any case, the reestablishment of operations will be done under stricter security measures accepted by Visa and Mastercard and will allow transactions in a fluid and monitored manner.

The SEC’s accusations against Binance and regulatory issues have kept the platform in crisis, which is beginning to regain customer trust in its quest to restore its balance in the market.

M.Pino

Source: cryptonews

(Reference image source: Kanchanara en Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada Binance reinstated cryptocurrency purchases with Visa and Mastercard apareció primero en Bitfinance.

Visa CEO Ryan McInerney introduced the revolutionary payment modality called Tap to P2P during Wednesday’s Visa Payments Forum event in California.

This is a mechanism that turns every smartphone into a digital payment device. User authentication is carried out by simply placing the plastic card on the smartphone screen. The transaction does not request user data, nor is a text message or email sent, nor is communication with the bank requested.

This payment method, which translates into “Tap to pay, Tap to confirm, Tap to add card and Tap to P2P”, further facilitates transactions in stores but also allows the sending of remittances safely and quickly, as Eduardo clarified. Coello, regional president of Visa for Latin America and the Caribbean.

The executive also highlighted payment using biometric data (Visa Payment Passkey), since the client or user does not need to type anything on their phone or show a debit or credit card to carry out the required transaction.

Changes in payments have been rapid in recent years. The companies involved now have the assistance of Artificial Intelligence to speed up transactions, provide security to users and design practically personalized offers.

M.Pino

With information from national and international media, Visa and social networks

(Reference image source: @ftr_investors, X)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada Visa announced Tap to P2P payment method apareció primero en Bitfinance.

Bancamiga increased the limit of its credit cards, which will allow its clients to have greater liquidity to spend and invest.

The President of the Board of Directors of Bancamiga, Carmelo De Grazia, said that Bancamiga, always attentive to the requirements and needs of Venezuelans, decided to expand from now on the limits of its Visa and Mastercard credit cards, which will allow “our clients have more resources for themselves and their families.”

The increase in limits varies depending on the credit history of each client, said Ariel José Martínez, Executive President of the Bank, who assured that the increase is part of Bancamiga’s strategies to promote the well-being of its clients.

Bancamiga had previously raised the limits of its cards in the month of December, allowing many Venezuelans to make purchases to celebrate Christmas and the New Year.

To know the new limits, clients must enter Bancamiga en Línea through www.bancamiga.com and through the Bancamiga Suite application.

How to apply for your Bancamiga credit card?

Customers interested in applying for the credit cards offered by Bancamiga must go directly to any of its 47 agencies in the country, with the following completed application:

https://www.bancamiga.com/wp-content/uploads/2023/02/FO.AC_.053.V7.0422-Solicitud-TDC-Aumento-de-limite-TDC.pdf

Once the collections have been delivered, Bancamiga will carry out the financial evaluation.

With information and image from Bancamiga Banco Universal

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada Bancamiga increased the limit of its credit cards apareció primero en Bitfinance.

The credit card issuing companies Visa and Mastercard signed an agreement of USD 30,000 million, which seeks to reduce the costs of commercial tariffs in the United States in a minimum period of four years.

Both companies, leaders in the global credit card sector, have indicated that the current fee that merchants must pay for swipe at the time of customer purchase is 2 % of the transaction, and they hope to reduce it by at least four points percentages.

The news about this deal, published on Tuesday, March 26, “comes just a month after Discover and Capital One announced a merger that, if approved by financial regulators and shareholders, would create the largest credit card company from the country.”

It is important to clarify that the agreement between Visa and Mastercard still requires approval from the United States District Court for the Eastern District of New York.

In any case, if approved, it will not affect the rewards received by Visa cardholders, nor will it affect access to credit.

M.Pino

Source: CNN

(Reference image source: Emil Kalibradov in Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada Visa and Mastercard sign an agreement to reduce commercial fee costs apareció primero en Bitfinance.

Visa, the global payments giant, is driving the adoption of cryptocurrencies by offering another method to exchange crypto for fiat currencies without the need to use a centralized exchange.

Visa has partnered with Transak, the Web3 infrastructure provider, to launch cryptocurrency withdrawals and payments through the Visa Direct solution, the companies announced on January 30.

The integration, which is now available, allows you to exchange crypto for fiat and pay at 130 million Visa-accepting merchants, directly from a wallet like MetaMask to a Visa debit card.

“By enabling real-time card withdrawals with Visa Direct, Transak provides a faster, simpler and more connected experience for its users, making it easier to convert crypto balances to fiat,” said Yanilsa Gonzalez-Ore, leader of Visa Direct in North America.

The partnership significantly increases the number of options for converting cryptocurrencies into fiat currencies and represents a major breakthrough in the connection between the world of cryptocurrencies and traditional finance, said Harshit Gangwar, Head of Marketing and Investor Relations at Transak.

The partnership enables users in 145 countries to directly convert at least 40 cryptocurrencies to fiat without relying on centralized exchanges. Some of the eligible countries are jurisdictions such as Cyprus, Malta, Singapore, Turkey, Portugal and the United Arab Emirates, according to Transak’s global coverage page.

“This is a big step towards the massive acceptance and use of cryptocurrencies,” Gangwar said, highlighting a more accessible and convenient nature of transactions enabled by integration.

K. Tovar

Source: Cointelegraph

(Reference image source: CardMapr.nl, Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada Visa offers its crypto-to-fiat exchange service in 145 countries apareció primero en Bitfinance.

The Salvadoran government has inaugurated the “Adopta El Salvador Freedom Visa Program“, aimed at attracting 1,000 investors willing to contribute one million dollars in Bitcoin or the stable cryptocurrency USDt annually.

The Press Secretariat of the Presidency, in a statement shared on social network X, noted that the program is looking for large-scale investors willing to contribute $1 million to finance projects in culture, security, technology and social welfare. The program’s official website specifies that the “exclusive residency invitation” is limited to 1,000 participants per year.

Among the projects identified to receive these investments are interventions in schools, improvements in public health infrastructure, increased access to health services, strengthening road connectivity and telecommunications, according to the Press Secretary.

“Those who join the program will have the opportunity to contribute to the development of El Salvador, becoming an active part of the transformation into a technological hub and a unique tourist destination,” the Press Secretary said.

It was announced that the selected investors will get a special visa, and the execution of the program will feature technology from Tether, the leading company in the cryptocurrency industry.

El Salvador adopted bitcoin as legal tender in September 2021, becoming the first nation in the world to do so. Although the country has invested more than $250 million in this project, the population has not massively adopted the cryptocurrency, and there are concerns about its use to irregularly fund election campaigns ahead of the 2024 elections.

In addition, the $1 billion Volcan Bonds were expected to be issued in 2022 to finance the construction of Bitcoin City, but this financial move did not materialize.

K. Tovar

Source: Bancaynegocios

(Reference image source: Traxer, Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada El Salvador inaugurated a cryptocurrency investment program apareció primero en Bitfinance.

In an unexpected twist, Binance Card holders in Latin America were surprised this week with the announcement of the final closure of the cryptocurrency card in collaboration with Mastercard.

Although none of the parties involved has revealed the reasons behind this decision, Binance announced the interruption of the replacement of physical and virtual cards, which will result in the withdrawal of its product from the markets in Argentina, Colombia and Brazil. This measure not only affects Latin America, but also reaches users in Bahrain, in the Middle East region.

Exclusive information from Bloomberg revealed that this move is part of the outcome of the association between Mastercard and Binance for the issuance of cards linked to cryptocurrencies. “The co-branded Mastercard card pilot programs with Binance will be discontinued,” Seth Eisen, the company’s senior vice president of communications, said in a statement to Decrypt.

The expected date for the cessation of operations is September 22, and it is clarified that this will not affect the other cryptographic card programs supported by Mastercard. The cards will cease to be operational as of said date.

Binance is not alone in this scenario, as Visa has also made the decision to distance itself from Binance due to the regulatory issues surrounding the exchange. According to information from Bloomberg, Visa has chosen to stop its association with Binance in the field of cards. Although attempts were made to obtain statements from Visa, the cryptocurrency platform has not received a response.

This news comes at a time of turbulence for Binance, which is under scrutiny from financial regulators around the world. This year, the exchange and its CEO, Changpeng Zhao, have faced two lawsuits filed by US authorities, accusing them of failing to register properly and violating federal securities and derivatives regulations.

The Binance Card program was first launched in 2020 in collaboration with Visa. This card allowed users to transact with cryptocurrencies and earn rewards in the form of cashback. Subsequently, Binance entered into an alliance with Mastercard to launch a similar card program, with the aim of encouraging broader adoption of cryptocurrencies.

K. Tovar

Source: Diariobitcoin

(Reference image source: Kanchanara, Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada Binance begins to move away from card operators apareció primero en Bitfinance.

In several nations in Europe, the Middle East and Africa, among others, the Venezuelan passport is enough to enter as a tourist without the requirement of any type of visa.

Currently, the Venezuelan passport provides access to 126 destinations in the world, ranking 42 out of 108 countries analyzed by the Passport Index of the consulting firm Henley & Partners.

In 69 of these countries, they do not require a visa, in 53 they request an arrival visa and only in 4 of them an electronic travel authorization is required, as reported by the Bloomberg agency.

Stays for three months

This list specifies the European countries that do not require a visa for a maximum of 90 days: Germany, Albania, Andorra, Belgium, Austria, Belarus, Bosnia, Herzegovina, Bulgaria, Cyprus, Croatia, Denmark, Slovenia, Slovakia, Estonia, Spain, Finland, France, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, North Macedonia, Malta, Moldova, Monaco, Montenegro, Norway, the Netherlands, Poland, Portugal, the Czech Republic, Romania, Russia, San Marino, Sweden, Switzerland, Turkey, and Vatican City.

For their part, only Armenia, Azerbaijan, Georgia, Ireland, the United Kingdom, Serbia and Ukraine request visas from Venezuelans.

Taken from El Sumario

(Reference image source: Unsplash, in collaboration with Ave Calvar)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada Venezuelans can enter a group of countries in the world without a visa apareció primero en Bitfinance.