Bitcoin Debit Card Provider Suspend Services As Visa Issues Orders

Written by:
C Costigan
Published on:
Jan/07/2018

Visa and MasterCard are issuing strong warnings on the use of the cards. The two world debit card giants stop the services. As many people start 2018 with vigor, the bitcoin news everywhere is bad.

Many companies dealing with the exchange business are suffering. Among those that are in this group include Wirex, TenX, Bitwala, and Cryptopay. Exchange services between digital currencies and other legal currencies help punters. Players who want to pay using digital currencies use debit cards. Also, this happens both online and brick and mortar facilities. But now those things are not suitable for players. The two significant holders of the cards are hard are terminating services.

MasterCard and Visa are the world’s leading credit card issuers. When the two companies are not in any business, the turnout is usually low. Immediately after the announcement, Bitwala announces. On their Twitter handle, Bitwala tells her clients that things are not right. The tweet also says that the firm is convening a meeting. The aim is to look for a solution for the way forward.

“Following an announcement from our card issuer, we are taking action. We’re getting Bitwala business out of operation starting today. Our team is holding an emergency meeting to resolve the issue. We will find a solution. The meeting is between us and the cardholders. We have your best interests in mind and will make an update shortly,” says the tweet. Another company that is also suffering is Cryptopay. This business too makes a quick announcement following the withdrawal of the cards.

“Unfortunately, our card issuer is instructing us to stop all Cryptopay prepaid credit cards. That has to start on January 5th, 2018. All funds that are in the cards are safe. You will find those funds in those Cryptopay accounts ASAP. Sorry for all the inconvenience this is causing you. We’re working on the solution,” Cryptopay says. Several other companies that are suffering from this abrupt suspension communicate. They are telling their clients that they too are suspending services. Find the best Bitcoin casino at USSlotCasino.com.

But they are assuring players that any money in the accounts will remain safe. Players will get the money the soonest possible. The other company that is also communicating with players is TenX.

Through a heart feeling message, the company tells clients that they are sorry. They have to do what they will need to do to ensure the business goes on as usual. “Payments on the TenX card will be unavailable. Above all, this follows an urgent communication from our card issuer Wavecrest. We are working on a solution. We’ll let you know further details as soon as we have them. We apologize for the inconvenience. Thanks for understanding,” TenX writes.

Players using the cards are very bitter following the end-week announcement. It will force them to look for alternative ways to make payments. It’ll be hard if these are the only ways they are making the payment. While this is not good Bitcoin news, the fact is that the large cards are suspending services.

Business/Financial News

Japan's Cryptocurrency Exchanges Need Tighter Rules: Monex CEO

Japan's cryptocurrency exchanges should be regulated more like banks as they hold investors' assets while offering trading platforms, the chief executive of online brokerage Monex Group Inc said.

Game.com Altcoin Surges As Bitcoin Cash Rally Tries To Keep Up

Game.com Altcoin Surges As Bitcoin Cash Rally Tries To Keep Up

It has been an excellent week for cryptocurrency gamblers and day traders. According to an article on PlaySlots4RealMoney.com, The Game.com ($GTC) altcoin has been surging up for the last few days. 

Bitcoin Cash Soars 10 Percent

Bitcoin cash was up more than 10% Friday ahead of an anticipated hard fork May 15.  It continued to outperform other cryptocurrencies in recent days.  It is up 30% in the past week. Bitcoin, by comparison, is up just 5%.

Ayre Dishes on Bitcoin Venture Capitalist: 'Even Jimmy Song is Starting to Make Sense for Once'

Coingeek.com founder Calvin Ayre and ardent proponent of bitcoin cash appears to be no fan of bitcoin venture capitalist Jimmy Song but did tweet out Friday

Bookie Tips: 3 Frequently Asked Questions About Selling Bitcoin

Many online bookie agents are already using bitcoin, its benificial to both the bookie and the bettor. What what about selling bitcoin? Get the 3 frequently asked questions from bookies about selling their bitcoin.

Syndicate