Is bank fear taking over in the Bitcoin world???
Today Visa cancelled with immediate effect all Bitcoin Debit cards (including mine through Spectrocoin), luckily I only had a balance of about 1 euro on it as I keep everything in Bitcoin. I received this email from WaveCrest who it appears supply Spectrocoin with debit cards. Spectrocoin has not actually posted anything on their site at all about it. (probably in a state of panic), when I went to the chat this morning there was over an HOUR to wait.
This thread on Reddit is being updated with people’s experiences, but it seems they supplied a LOT of debit cards to different Bitcoin-based organisations.
The following cards appear to be affected:
- and others.
This is a huge mistake in my view for Visa. They have basically opened the door for another provider to have a massive amount of business overnight. But who will take up the challenge? Mastercard?
I suspect that they will greatly regret this decision in the future.
Update: 17:35pm Spoke to Visa Europe they are not saying anything, no press release, nothing – disgusting.
Going to try and get hold of a contact at Spectrocoin.
Spectrocoin has now sent the following email – so my advice is unloading your cards wherever they may be if you can. I did a bank transfer from Spectrocoin with no problem.
I note that they already have a card provider in mind and for me Visa have shown incredible stupidity by their actions and provided an opportunity for other card providers to take the market.
Good job Visa.