The pandemic has considerably shifted the mindset on digital currencies. Initially, the question was whether digital currencies had the potential to succeed. Now, the questions being asked are how and when digital currencies will reach mainstream status. According to Deutsche Bank Research, payments using cryptocurrencies will escalate. What could possibly hinder extensive use is the great amount of energy consumed....
2019 turned to be a less wild year for Bitcoin (BTC). However, BTC is still faced with volatility, causing harm to the world’s top digital currency’s potential as a payment method. To dive deeper into the topic and know who can best help you with a Bitcoin merchant account, keep on reading this post. Bitcoin Merchant Account: What to Know...
If your business is in a high-risk industry, you are familiar with the complications and frustrations of obtaining a merchant account. If you have been able to get one, then your concerns shift to fulfilling contractual obligations and costs that are passed on to you by the provider to mitigate cost. But wouldn’t it be amazing if there was a...
While cryptocurrency may still seem somewhat oblique in mainstream circles, the growing interest is hard to deny. Facebook is trying to capitalize while the iron is hot with its proposed cryptocurrency, Libra. While Libra has been in development for over a year, it may appear to be a poor time for Facebook to be pushing its agenda. The company has...
Although the use of digital currency is on the rise, European law enforcement is still working to keep dark web counterfeit currency in check. The growing availability of counterfeit tools on the dark web means that counterfeit networks are cropping up more frequently. A bust that happened earlier in April saw Spanish police takedown the “most active” euro counterfeit organization...
Facebook Libra cryptocurrency won’t be launched unless all regulatory concerns are discussed. Are you an eCommerce merchant interested in digital money and safe online payment transactions? If yes, this article is right for you. Just keep on reading. Facebook Libra Faced with Challenges Facebook has recently reported that it’s not sure whether Libra or other associated products/services will be launched...
Visa’s new payment system for business-to-business (B2B) transactions has made it one of the newest blockchain-based international payment providers. Its Visa B2B Connect platform is based on blockchain technology and offers seamless cross-border payment processing for businesses without any third-party interference. Visa’s latest endeavor allows the scheme to compete directly with cryptocurrency startups, like Ripple, and significant players, like BNY...
News circulated last month that Facebook had been meeting with credit card schemes, marketplaces, and other major companies in the hopes of raising a billion dollars in investments for its digital money project, Libra. Facebook’s hard work paid off. Facebook’s Libra cryptocurrency, which the social media heavyweight announced this week will debut in early 2020, has gained a firm backing...
Facebook’s stablecoin, Libra, allows people to shop and send money to others for nearly zero transaction fees. A person buys or cashes out the cryptocurrency online or a local exchange points, like convenience stores, while under a pseudonym of the individual’s choosing. Purchases can be made through Facebook’s Calibra wallet, which will be built into Messenger and WhatsApp, or other...
The Financial Crimes Enforcement Network (FinCEN) issued an advisory to assist financial institutions in identifying and reporting suspicious activity concerning convertible virtual currencies (CVCs). The advisory includes ways in which criminals exploit convertible virtual currencies for money laundering, sanctions evasion, and other illicit financing purposes, particularly those involving dark web markets, peer-to-peer (P2P) exchangers, and CVC kiosks. As people to...
