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VISA Fintech creates a team of VISA Crypto

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A few months ago, we witnessed analysts' warnings that Visa and Paypal could be squeezed out of the market from bitcoins and other cryptocurrencies. Anyway for Paypal, but VISA Inc. creates a new "Crypto Team".

MoffettNathanson analyst Lisa Ellis recently stated that, although cryptocurrencies are not yet ready, Bitcoin or XRP can eventually destroy major inherited payment systems such as Visa, Mastercard and Paypal.

She also said that it is unthinkable that one day cryptocurrencies will be able to compete and surpass large private companies that are currently used by people to move money around the world.

This opinion is largely true mainly because of the difference in cost and the fact that payments using cryptocurrencies, such as the XRP Ripple, take only a few seconds and cost only a tiny fraction of the amount sent. That is why even traditional financial institutions, such as banks and other money transfer service providers, are quickly adopting this technology.

For example, the Bitcoin network runs seven transactions every second, while Ripple runs about 1,500 (1,500) transactions every second. The numbers are very small compared to VISA, which conducts about 24,000 transactions every second.

Well, it seems that Visa does not take such warnings for granted. This American multinational financial services corporation is allegedly creating a new team that is likely to deal with a crypto-ecosystem. According to a new recruitment announcement for a technical product manager, VISA creates and strengthens the VISA Crypto Team, employing personnel with knowledge in the field of cryptographic protection.

The selection criteria are as follows:

“Are you keen on the intersection of payments and cryptocurrency? Are you familiar with the blockchain technology without access and have a close network of experts in the rapidly changing cryptocurrency and fintech ecosystem? Are you excited about the problem of developing new products for Visa to add value to FINTECH technologies that want to support cryptocurrency? ”

The selected candidate as product manager on the Visa Crypto team will be responsible for implementing the Visa product strategy in the cryptocurrency ecosystem.

Thus, the person with the roadmap will work closely with the VISA research team to service and deliver the new product to Fintech space. Moreover, the job requires a person to understand how cryptocurrency can affect payments.

This person must have good problem-solving skills and a creative approach in order to find new opportunities and anticipate how cryptocurrency can affect payments.

After hiring, the employee will work in his office in Palo Alto and will subsequently be required to report this to the head of Crypto from the Visa Fintech Product group. A product manager with the necessary responsibilities will also be able to manage and evaluate a roadmap for cryptocurrency opportunities.

What you need to know if you are interested in this position is that the ideal candidate should:

“They have significant functional knowledge of the cryptocurrency ecosystem and the players involved in it, including in-depth knowledge of the unresolved blockchain technology, as well as a deep understanding of existing retail payment solutions.”

Visa has already spread its wings with a crypto and blockchain hemisphere
However, this is not new to VISA. Just a month ago, they announced that they were expanding their accelerated Fintech program in Central and Eastern Europe, Africa and the Middle East.

The accelerated VISA Fintech program will allow Fintechs to connect to the VISA payment network in a short time. Thus, VISA indirectly entered the crypto-era, helping a partner of Ripple, such as InstaRem.

InstaReM, a Singaporean startup Fintech and a member of RippleNet, joined the Visa fintech program in the Asia-Pacific region, which makes it faster and easier for a company to deploy its commercial solutions in the Visa payment network.

Both companies announced that their intention is:

“To create new solutions for quick and convenient transfer of money to different countries and from different countries, which provide users with convenient digital payments and money transfer options.”

Also last week, Visa announced that it had received an offer to purchase a platform for cross-border payments of Earthport PLC, representing 267.7 million Shares, which corresponds to 41.02% of the shares. Keep in mind that Earthport also partnered with Ripple British Fintech with a £ 198 million deal.

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