MasterCard has publicly spoken out against bitcoin in Australia, but in Canada is being forced to play nice. A site called YesToBitcoins allows Canadians to pay their credit card bills – including for Visa, American Express and MasterCard – using bitcoin.
YesToBitcoins.com is a website that allows users to buy gift cards with bitcoins. But that was not enough for founder Darwin Ramon, who wanted to find a way to pay off his credit card bill using virtual currency.
“The idea came from asking, why can’t I use Bitcoins to pay my credit card bill?” he said. “The technology is already here, so why do I have to wait until the banks catch up?”
Ramon’s site allows users to pay all Canadian credit cards in bitcoin, including four types of American Express cards, 33 Visa cards and 23 of those from MasterCard.
BitPay processes payments on YesTo Bitcoins, but the credit card payment is processed by PC Financial Bank, according to CryptoCoinsNews.
“If bitcoins can be spent, bitcoins are useful,” Ramon added. “It is my goal to facilitate the inclusion of bitcoins in the established economy. “If anything you put on your credit card, can be paid with bitcoins, then anything you buy can be paid with bitcoins.”
Using Ripple's enterprise blockchain solutions, Standard Chartered has completed its first real-time cross-border payment for businesses with another major correspondent bank.
Three years on from being acquired by PayPal, Braintree, a company which allows merchants to process a range of different payments, has revealed the number of its payment transactions has increased by 25 times.
Fresh from its $4.5bn IPO, Nordic payments processor Nets has picked Spire as its partner to help with the physical roll out of mobile payments for Dankort customers.
Square has introduced a new update to its contactless and chip readers that reduces transaction speed to 4.2 seconds.