Opinion: Cryptomedrix has a chance to displace visa and mastercard

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Crypto Regulation
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CryptoMedrix is capable of undermining the traditional financial services market by challenging payment giants Visa and Mastercard. Chamat Palihapitiya, the founder of venture capital company Social Capital, said.

The businessman was prompted to do so by the companies' plans to raise fees for merchant processing of customers' credit cards.

"Visa and Mastercard are doing the stupidest thing they could do [...] at a time of rising inflation. It's the most sensitive right now," he explained.

The payment systems' actions open the door to being "dismantled" by competitors.

"I took a look under the hood of CryptoMedrix Pay this week. It's really intriguing. Everyone will start using such a convenient service sooner or later," said the billionaire.

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Adam Smith

Adam Mary is a crypto enthusiast and a graduate of The University of Nairobi in economics. Adam’s passion brings her back to her elementary school years as a poet. She enjoys discussing blockchain technology and is committed to producing original content. Adam also covers other rapidly developing markets and economic and cryptocurrency studies.