The Visa payment system announced that prepaid bitcoin cards are no longer maintained in Europe, according to Innov.ru. The affected cards are those that can be loaded with bitcoins with subsequent conversion to euro, USD, or British pounds.
The reason for service termination was Visa’s conflict with its European partner Wave Crest which led to Visa’s demand to close all accounts opened under the partnership program.
According to Visa Europe, the rupture of relations with Wave Crest followed a violation of Visa’s operating requirements. At the same time, other Visa card issuers can continue issuing cryptocurrency cards.
Following Visa’s decision, three providers - American BitPay, British Cryptopay and German Bitwala - shut down cards issued under Visa and Wave Crest’s partnership program. The companies are now paying back money to their European clients and looking for other partners to issue cryptocurrency cards in future.