Visa, Mastercard, to capitalize on cryptocurrency transactions

We should enjoy these pre-historic times before they’re gone.

Looks like Visa and Mastercard are seeing an increase Crytpcurrency purchases as of late and are going to start capitalizing on them too.

“Over the past few weeks, we have clarified to acquirers – or the merchant’s bank – the right transaction or merchant category code to use for these type of transactions (cryptocurrency purchases). This provides a consistent view of such purchases for both merchants and issuers”

This basically means you will need to pay an additional 5% CC cash advance fee on top of the existing 4% transaction fee.

I don’t know about you but unless a person is buying a couple GRAND worth..It’s not worth it!! 9% in fees+??! INT rates are sometimes at 25%+..

We’re really the biggest losers at this point and those credit card companies are coming up on top again.

To be honest, at these prices, the instability of the market and high fees, it’s back to the drawing board as the ROI just doesn’t seem too feasible anymore.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s