Payment giant Visa has launched a global encryption consulting service. The company’s executive said: “Last year, we saw a major shift in customer mentality, from the desire to explore and experiment with cryptocurrencies, to actually formulate strategies and product roadmaps.”

Visa’s global encryption consulting services

Payment giant Visa announced the launch of its “Global Encryption Consulting Service” on Wednesday, a service of Visa Consulting and Analysis (VCA). “This is a moment when digital currency has a greater place in the public consciousness,” Visa pointed out.

The company explained that its consultants and product experts have gained expertise through cooperation with more than 60 encryption platforms. Visa notes that they can help “financial institutions evaluate crypto opportunities, develop specific strategies, and pilot new user experiences and innovations, such as crypto reward programs and CBDC-integrated consumer wallets.”

According to Claudio Di Nella, Head of Consulting and Analysis at Visa Europe:

Last year, we saw a major shift in customer mentality, from eager to explore and experiment with encryption, to actually formulate strategies and product roadmaps.

Uma Wilson, Executive Vice President of UMB Bank, said: “We came to Visa to learn more about cryptocurrencies and stablecoins and the use cases most relevant to our retail and commercial business lines.”

On Wednesday, Visa also issued a report Titled “The Encryption Phenomenon: Consumer Attitudes and Use”.It includes a survey of more than 6,000 financial decision makers in eight markets: Argentina, Australia, Brazil, Germany, Hong Kong, South Africa, the United Kingdom and the United States

According to the survey results:

Among the global survey participants who have discretion over household finances, almost 94% of them have an understanding of encryption.

In addition, “nearly one-third of crypto-conscious adults already own or use cryptocurrency, and the majority of this group (62%) stated that their use has increased in the past year.”

The survey also found that “Among current cryptocurrency owners, 81% of people expressed interest in cryptocurrency-related cards, which allows you to switch and purchase at retailers like a debit or credit card. Use cryptocurrency.” At the same time, “84% of people are interested in crypto rewards, which allows you to earn crypto as a reward for card consumption.”

Cuy Sheffield, head of cryptocurrency at Visa, recently Said: “Encryption is becoming cultural. It’s becoming cool.” He explained that due to non-fungible tokens (NFT), “a whole new category” of mainstream consumers are entering the crypto space.This week, visa join In a round of financing of TRM, an encrypted transaction monitoring and forensics platform.

What do you think about Visa’s launch of encryption consulting services? Please let us know in the comments section below.

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