After a successful pilot last summer Venmo has started to roll out instant bank transfers; the service will require a Visa or Mastercard debit card and allow for transfers to be done within 30 minutes for $0.25 fee; the free version of bank transfers will remain; PayPal, who owns Venmo, hopes the instant transfers will help with revenues. Source.
Visa notified WaveCrest that they were terminating their membership with the company for non compliance; WaveCrest is a third party processor where prepaid cards were being used for crypto based activities; the terms and conditions of their agreement with Visa stated that funds could only be loaded to the card via an employer on a regular basis; the termination note leaves a number of companies in limbo and looking for another option to service customers. Source.
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