Santander: Bitcoin Threatens Credit Card Issuers

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Santander, Banco Santander

A securities associate of Spanish banking organisation Banco Santander is predicting bitcoin will have a poignant impact on a bequest financial ecosystem should it see wider adoption.

The report, published progressing this week, stems from a assembly involving Santander researchers, Santander Investment Securities, Brazilian bitcoin brokerage Mercado Bitcoin and internal investors. While short, a announcement offers a take on a risks (or opportunities) label issuers, acquirers, exchanges and banks would face in a future should a use of digital currency become some-more mainstream.

Perhaps many during risk, according to a report, are a label issuers and acquirers.

Researchers Henrique Navarro and Bruno Mendonca noted:

“Simply put, we trust a destiny with bitcoin exchange with their low (or no) costs and fees puts during risk a whole business indication of credit and withdraw label companies. Acquirers such as Cielo (through net MDRs and POS revenue) and issuer banks (through rotate fees) potentially could humour a most, in a view.”

Specifically, a news identifies prolonged transaction times, operational costs and compared fees and taxes as factors that would put issuers and acquirers during a disadvantage.

“The risk increases as some-more and some-more merchants and suppliers accept bitcoins,” a news adds.


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