pixel metricool
Home » Blog » CryptoWorld » Are visa and mastercard sending spenders to crypto payments?

Are visa and mastercard sending spenders to crypto payments?


Visa and Mastercard are upping their payment processing fees, and users and merchants alike are unhappy. How will these fees affect the future of businesses and overall transaction volumes? This could be economically impactful, and the meaning behind the increased costs is still being determined. Let’s dive into what we know and how crypto payments might be the hero without the cape we are all looking for! 

More Credit Card Fees?

Amid inflation and uncertain economic conditions, Visa and Mastercard decided, “let’s add on to the pile,” as if everything wasn’t expensive enough already. The USA is known for its high credit and debit card processing fees, and both credit card companies don’t think that’s enough. So, who is going to pay for all of these fees? Merchants and credit card users, of course.

These fee increases go into effect in October, and despite the mass social and judicial backlash, both Visa and Mastercard are allegedly not budging on this decision. Such a strong stance on such groundbreaking circumstances begs one to question the motives behind this decision… but that’s for another article. 

How Can Merchants and Customers Evade Increased Fees?

With crypto payments! Once considered an abstract form of payment, all eyes are on crypto for digital, cashless, and low-cost transactions. Merchants and customers can both benefit from crypto payments. For those unfamiliar with crypto payments, it’s time to get familiar. 

Crypto payments are simply payments that use cryptocurrencies like Bitcoin, Ethereum, or other digital assets for all sorts of transactions. They involve sending digital currencies from one party to another as a medium of exchange for goods or services, executed on blockchain technology, which ensures the security, transparency, and immutability of the transactions. Crypto payments offer the advantages of fast, borderless, and private transactions.

Credit Cards vs. Crypto Payments

Among the many, the most appealing advantage crypto payments have over credit card payments is low fees. And now it looks like they will be even lower. Whether absorbed by the merchant or the customer, credit card fees in the USA are very high. Crypto transactions are low-cost and only apply one transparent fee, unlike credit card companies that charge swipe, settling, conversion, and maintenance fees – to name a few. 

Other advantages of crypto payments over credit cards are: 

  1. Security

One of the primary advantages of using cryptocurrencies for payments is their high-security level. Unlike credit and debit cards, which rely on centralized systems, cryptocurrencies use blockchain technology, which is decentralized and secure. This means that transactions are much more difficult to hack or steal, making it safer for businesses and customers to use crypto payments.

  1. Speed

Another advantage of using crypto payments is their speed. Unlike credit card payment methods, which could take several days or weeks to process from bank accounts, crypto payments are complete within seconds or minutes. This makes them ideal for time-sensitive transactions, such as online purchases or stock market trades.

  1. Privacy

Crypto payments offer high privacy, as they do not require users to provide personal information like their name or address. This can be especially important for people who value their privacy and do not want their financial transactions to be tracked or monitored.

  1. Accessibility

Crypto payments are more accessible than credit and debit cards. While credit and debit cards require users to have a bank account and good credit score, cryptocurrencies can be accessed by anyone with an internet connection. This makes them a powerful tool for financial inclusion, as they can be used by people who may need access to traditional banking services.

  1. Borderless Transactions

Unlike credit cards, crypto payments can be processed anywhere in the world, free from bank interference. There are no international processing fees, wait times, or permissions. This means crypto users have complete access to their digital funds quickly and easily, no matter where they are. 

Accepting and Spending Crypto With ForumPay

Whether accepting or spending crypto, both sides will benefit from ForumPay. ForumPay is a crypto-payment processor that allows customers to pay in the crypto of their choice while merchants get paid in the fiat (USD, EUR, etc.) of their choice. Let’s break down the advantages ForumPay offers for merchants and customers: 


  1. Merchants have the opportunity to tap into a multi-trillion-dollar consumer segment. Crypto consumers are running rampant and favor wherever they can use their digital funds. On top of that, statistically, crypto consumers spend twice as much as other buyers. So not only will crypto-accepting merchants open their doors to a growing market, but they can also sell double.
  2. Making sales with crypto is more straightforward than understanding crypto. Introducing crypto into a business might sound daunting, but it doesn’t have to be. ForumPay is installed into the merchant’s POS system or online payment portal. Once a customer chooses to pay with crypto, a QR code for that transaction is generated. The customer simply scans the QR code from their digital crypto wallet, and that’s it – the payment is processed, and the funds are converted into fiat and ready to settle into the merchant’s bank account at the end of the day. 
  3. Crypto payments are immune to chargebacks or payment fraud. While credit card users can claim chargebacks easily, crypto users cannot. Removing this risk from sales is a massive relief for merchants. 


  1. Unlike other crypto payment processors, ForumPay lets crypto users pay from any crypto wallet with a wide range of cryptocurrencies. Other companies are crypto or wallet-specific, but ForumPay removes such limitations, making crypto payments accessible to all market members. 
  2. Conversions are instant, meaning crypto has no wait time to convert to fiat. As crypto values fluctuate, it’s pertinent that the funds are converted to the best fiat value amount the second a purchase is made. ForumPay uses instant price determination technology to convert crypto at the point of sale.
  3. ForumPay is available for online or in-store businesses, increasing accessibility for crypto-paying customers. Other crypto payment gateways are specific for POS systems or online widgets, making limitations for crypto users.

Crypto Payments Save the Day?

After diving into the differences between crypto and credit card payments amidst fee increases, it’s safe to say that credit cards are losing their edge. Whether they are purposefully taking advantage of their users or have another motive, it’s safe to say that merchants and consumers alike will be looking for payment alternatives soon, and crypto is as good as it gets in our digital age. 

To accept crypto payments or to learn more about staying away from pesky credit card fees, visit www.forumpay.com today! 


ForumPay does not disclose financial advice. Anything shared is strictly to inform, entertain, or share thoughts and ideas. Please seek a registered financial advisor if you are looking for financial advice.


Cryptocurrency has gone from having a hostile reputation to being the hottest topic in most households seemingly overnight. It’s impossible to deny everyone deserves