The use of credit cards for encrypted connections has continued to increase internationally. According to the report of Visa, the 2021 encryption transaction is about 3.5 billion dollars. Recently, the investment and payment of encryption projects in the Middle East have also seen a similar increase.
According to Leila Serhan, vice president of Visa in Latin America, Levant and Tajikistan (NALP) and China/regional manager of the group company, as a digital payment method, cryptocurrency is becoming more and more popular internationally, and it has been gradually used in the Middle East recently. When she recently accepted an interview with Jordan Times, she briefly described her views on this topic.
Serhan said that cryptocurrency lending is still a strong means, and added:
Encryption is a situation that can not be ignored. More than 400 million cryptocurrencies have been purchased in the world. At Visa, we will consider ourselves as a network. The crypto network is one of the networks I hope to promote currency exchange
There are already more than 65 crypto trading centers working with Visa. According to Serhan, if a country's policies and regulations allow, the enterprise will promote cryptocurrency transactions for further marketing and promotion.
Serhan concluded that digital payment is particularly important for improving the diversity of SMEs' financial industry in the Middle East.
Visa recently revealed in its recent earnings call that in the first quarter of 2022, customers applied encryption cards to pay $2.5 billion worth of bills. According to CNBC quoting Vasant Prabhu, chief operating officer of Visa, this data accounts for 70% of the encrypted order volume of the enterprise in the 2021 accounting period.
The necessity of digital financial quality in avoiding the attack of fraudsters cannot be overemphasized. To solve this problem, Visa has launched a number of initiatives to educate customers on digital finance and e-commerce security.