Thousands of Visa card holders in who's cards can be funded with bitcoin or other virtual currencies will be without service indefinitely.
However, this was NOT because of Visa and NOT because of bitcoin.
WaveCrest, a Gibraltar-based company, is the actual culprit.
WavCrest was an issuer of Visa payment cards until today when they had their Visa membership immediately terminated for "continued non-compliance with .. operating rules".
Visa additionally stated that many other providers servicing the affected jurisdictions are approved for virtual currency funded payment cards further containing the outage solely to the violations of compliance with the Visa's operating rules.
Bitwalla, BitPay, Cryptopay and other companies providing branded Visa cards to their customers have been affected and have issued notices to customers with action plans on handling the issue.
This is just another blow to BitPay who's endured a flurry of blows to it's services lately. BitPay stated that they are already "talking" to other providers and plan to have to have a replacement solution implemented soon.
"We are already in discussions with potential alternative issuers for the BitPay Card which will allow us to serve customers in Europe and beyond." - BitPay
No specifics were given as to what violation WaveCrest was guilty of and the organization had little to say other than the standard "regret" for the "inconvenience" the "decision" caused as if they had nothing to do with it themselves.
Which paints a picture of WaveCrest as an innocent victim of a rogue "decision" which "self-decided" to "inconvenience" people.
I think the "inconvenience" is having to decipher corporate bullshit to read the underlying message revealing the truth of the matter that WestLake screwed up and in turn just screwed allot of people.
First step? Own that shit.
[accordion] [item title="Author and Credits"] Article by dinbits
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