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Visa, Mastercard, Ebay, Stripe Join Paypal in Leaving Libra

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Most payment companies have now pulled out of Facebook’s Libra project. Visa, Mastercard, Ebay, and Stripe have followed Paypal in dropping out of the project amid regulatory concerns. The Libra Association has responded to the exodus of these companies. David Marcus, who is in charge of the project, calls it “liberating.” Also read: European Countries … Read more

U.S. Warns Visa, Mastercard to ‘Proceed With Caution’ Regarding Libra

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In the wake of Paypal’s very public exit from the Libra project, U.S. lawmakers are now pressuring Stripe, Visa and Mastercard to rethink their membership of the Libra Association as well. On October 8, three letters from two U.S. senators urged the tech and finance giants to “carefully consider” risks before moving forward. Also Read: … Read more

South African Payment Gateway Drops BTC Over Fees and Network Congestion

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On July 12, South African payment gateway service Payfast announced the company is dropping bitcoin core (BTC) payments due to network congestion and high fees. Payfast emphasized that BTC has a number of limitations and design flaws which makes it an “impractical substitute for cash.” Also read: G20 Leaders Issue Declaration on Crypto Assets – … Read more