Bitcoin enthusiasts are thoroughly convinced digital payments are the way forward. Although card payments are becoming more common every month, there are high fraud rates associated with this form of transferring value. Visa Europe head of Digitization and Innovation Shahar Fridman feels confident digital payment should be the focus, even for his company.
Consumers around the world are showing a growing need for different types of financial services these days. The payment industry is seeing an accelerated pace of evolution that has not been witnessed ever before. Keeping up with these demands, going digital seems to be the only way forward.
Visa Europe is Keen On Blockchain Technology
For some reason, a lot of financial players are slow to adapt to these new challenges and changes. Visa Europe has noted an increase in mobile and contactless payments, as they combined for over US$3bn in the previous twelve months. Visa wants to be at the center of the mobile ecosystem going forward, which means they will focus on new technologies and payment options.
It is interesting to note Visa Europe acknowledges digital payments is the logical evolution of transferring value. Contactless payments were the first iteration of new payment