Visa Files for Digital Currency Patent
The patent filed in November 2019 said this invention will bridge the advantages of cryptocurrency to fiat currency provided by central banks.
The patent filed in November 2019 said this invention will bridge the advantages of cryptocurrency to fiat currency provided by central banks.
FastSend allows MoneyGram customers to send money to a phone number in real-time via a website or a mobile app. The service is using Visa’s “Direct Original Credit Transaction” so that the funds are delivered to a bank account through a debit card deposit.
Two of the world’s biggest payment technology companies are now expanding the use of blockchain technology within its current systems.
Visa and UnionBank announced a partnership to create a cross-border payments system built on the blockchain, the technology behind bitcoin.
A number of banks are already onboard the B2B Connect System. Among them is Singapore’s United Overseas Bank, and the Philippines’ Union Bank.