Barclays in US set to join cryptocurrency credit card ban

Barclaycard is one of the biggest credit card providers in both Britain and the US that is yet to formally announce a ban on card purchases of digital currencies. (Reuters)
Updated 09 February 2018

Barclays in US set to join cryptocurrency credit card ban

LONDON: Barclays is likely to follow other major lenders in the US in stopping customers from buying Bitcoin and other cryptocurrencies with its credit cards, according to an interview with a senior executive at its credit card unit.
“We are making the decision that we will likely no allow cryptocurrency purchases on the card,” Paul Wilmore, managing director at Barclaycard, told Bank Innovation blog.
A spokeswoman for Barclays in London said that the bank is reviewing its policy on a country-by-country basis and that it had not yet changed its policy.
Barclaycard is one of the biggest credit card providers in both Britain and the US that is yet to formally announce a ban on card purchases of digital currencies.
Lloyds Banking Group, which issues just over a quarter of all credit cards in Britain, and Virgin Money announced such a ban last week, following the lead of JP Morgan Chase & Co. and Citigroup.
The moves are aimed at protecting customers from running up huge debts from buying virtual currencies on credit, if their values were to plummet, a Lloyds spokeswoman said last week.


Google postpones Android 11 unveiling amid US protests

Updated 56 min 31 sec ago

Google postpones Android 11 unveiling amid US protests

  • ‘We are excited to tell you more about Android 11, but now is not the time to celebrate’

Alphabet’s Google on Saturday said it has postponed next week’s planned unveiling of the beta version of its latest Android 11 mobile operating system in light of protests and unrest in the United States.
“We are excited to tell you more about Android 11, but now is not the time to celebrate,” Google said in a message posted on its Android developers website.
The event was originally scheduled to take place virtually on Wednesday, according to the website. In a tweet, it said that it will announce more details on the new version of Android “soon,” without specifying any dates.
Protests have spread across the United States over the killing of George Floyd, a Minneapolis black man who died after being pinned by the neck under a white police officer’s knee.