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September 9, 2021Blog Posts

Visa to Accept Crypto as Payment in Brazil

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Visa is looking at plans to accept crypto payments in Brazil, an interview with Brazilian news outlet Seu Dinheiro says.

Eduardo Abreu, vice president of new business at Visa, said he wants to look into integrating bitcoin, as well as other digital coins, as a method of payment or as a way to store value.

Abreu is reportedly building on ideas introduced earlier by Fernando Teles, Visa’s CEO of Brazil, who wanted to adopt the API and tokenized payments.

According to the interview, Abreu thinks the way forward will involve integrating the conventional financial activity within the crypto ecosystem and letting users transact via crypto or fiat in the same environment.

“The great advantage of adopting bitcoin is, without a doubt, its ease. Without needing to exchange a fiat currency, there is an optimization of exchanges when using bitcoin. Brazilians already have the culture of receiving card points, miles, discounts, etc. Why not receive cryptocurrencies with their credit card as well?”

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Crypto. The buzzword you hear everywhere from the news to friends hyping it up. Has the craze gone mainstream and reached businesses?

Big names like Microsoft, AMC, Starbucks, and AT&T are in, but what do small businesses think? The Strawhecker Group (TSG) used new survey data from nearly 600 small businesses in the U.S. to illustrate their knowledge, attitudes, and acceptance of cryptocurrency.

Download the infographic
Payments professionals across the ecosystem will find this infographic to be a great resource as the market continues to evolve. Are you working with merchants on a crypto strategy?

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