Bitcoin Threatens Credit Card Issuers

Banco Santander’s securities investment affiliate has published a new report on bitcoin that predicts a significant impact on credit card issuers.

Issuers and acquirers have the disadvantages of long transaction times, operational costs and associated fees and taxes as factors.

Bitcoin transactions with their low (or no) costs and fees puts at risk the entire business model of credit and debit card companies. Acquirers such as Cielo (through net MDRs and POS revenue) and issuer banks (through interchange fees) potentially could suffer the most.

Read more at CoinDesk

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