MasterCard, VISA: Credit card payment channels such as FX platform and virtual currency will be closed in succession

According to the news, MasterCard and VISA card providers are currently taking action against foreign exchange, binary options, virtual currency and first-time token issuance (ICO) in the form of credit cards.

Mastercard was the first to label the industry as risky.

Currently, VISA has also issued a statement similar to MasterCard. VISA sent a letter to its payment service provider stating that since December, transactions with foreign exchange, binary options, cryptocurrency brokers and the first token deposit ICO will Was determined to be high risk.

Under this statement, brokers with less strict supervision will become the first affected companies, some brokers and exchanges have notified customers that they will no longer accept credit card deposits.

Mastercard will implement the new change policy together next week, while VISA won’t start until December.

Payment service providers are releasing agreements with some customers until these customers find a viable method. Payment service providers are also looking for alternative solutions to solve the problems that may be faced in the future.

Regulatory easing areas and unregulated brokers, or will be diverted to bank transfer payments or wait for their payment service provider’s problem solution. However, until alternatives are found, payment service providers will have to discontinue services with some brokers and cryptocurrency exchanges.