Solana has a chance to force out Visa and Mastercard

Solana has a chance to force out Visa and Mastercard

Solana has a chance to force out Visa and Mastercard

Solana has the potential to disrupt the traditional financial services market by challenging payment giants Visa and Mastercard. This was stated by the founder of the venture capital company Social Capital Chamat Palihapitiya.

The businessman was prompted by the plans of companies to increase commissions for the processing of credit cards by merchants.

“Visa and Mastercard are doing the dumbest thing they could do […] during a period of rising inflation. It’s the most sensitive right now.” he explained.

The actions of payment systems open up opportunities for their “dismantling” by competitors.

“This week I looked under the hood of Solana Pay. It’s really intriguing. Sooner or later, everyone will start using such a convenient service,” the billionaire said.

Recall that in January 2022 at Bank of America predicted Solana is the status of Visa in the world of cryptocurrencies.

Earlier, the head of the FTX cryptocurrency exchange, Sam Bankman-Fried, said that Solana has every chance of becoming the next bitcoin.

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