There’s been no shortage of official opposition to Facebook and dozens of corporate partners’ plans to launch a cryptocurrency powered global payment network, Libra. A short list of the wary might include the heads of the stop it in its tracks across Europe.
Despite the prevalence of credit cards and payment services, when things go wrong, cash is still king. And today, Europe and the UK got a really good reminder of that after a network crash prevented millions of Visa credit and debit card holders from making any transactions.
Yesterday, a very dull press release from Visa announced an actually important thing: the world’s largest payment processing network is opening up to developers. Yawn all you like, but this is big news.