Bitcoin could destroy PayPal and Visa. The analyst MoffettNathanson

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2019-02-28 17:45:10

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Bitcoin could destroy PayPal and Visa. The analyst MoffettNathanson

While Bitcoin or any other cryptocurrencies do not pose a threat to PayPal or credit cards. But it can not last always. Analyst of research firm MoffettNathanson Lisa Ellis believes that in theory can bypass traditional payment methods by popularity.

The Cryptocurrency system — for example, Bitcoin, and potentially undermined the value of private payment systems.

According to Ellis, the key features of cryptocurrency to ensure “freedom of money”, strongly contrasted with the characteristics of most traditional private payment systems.

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Visa and PayPal should start working with cryptocurrencies

Due to the competitive potential of cryptocurrency, PayPal and Visa would have to look at the integration of these digital assets. However, the analyst doubts that this will happen in the foreseeable future. When you do this, otherwise, according to Ellis, the payment giants are in danger of losing market share in favor of ripple or Veem already using crypto-currencies for cross-border payments.

Source: Smallbiztrends

Recall, PayPal CEO Dan Schulman about the mass adoption of Bitcoin by merchants. In his opinion, now there are very few retailers are willing to work with cryptocurrencies. This opinion he expressed at the world economic forum in Davos, Switzerland.

We very much doubt that someone from the retailer will begin accepting the cryptocurrency. Volatility makes it [Bitcoin] is not suitable for the role of the real currency, which can make the retailers. Retailers with a important margin.

In 2018 Shulman was very worried by the strong volatility of cryptocurrency. That is because of the spike in prices, it was decided not to integrate PPC to a mobile PayPal app Venmo. He is confident, for this reason, many retailers will not accept payment in cryptocurrency. Nobody today wants to accept payment in BTC at the rate of 3800 dollars that tomorrow the exchange rate fell to 1800. More data to search for .

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