Visa Follows Mastercard With Investment in Credit Card Tech Startup: Report

Visa Follows Mastercard With Investment in Credit Card Tech Startup: Report
Visa Inc. has joined Mastercard Inc. as an investor in Deserve, the credit-card technology startup’s CEO said in an interview, according to a report from Bloomberg.Deserve launched a Visa credit card in partnership with cryptocurrency financial services provider BlockFi in July. The card allows customers to earn rewards in the form of bitcoin.Transaction volume for the card is approaching $2 billion on an annualized basis, and BlockFi cardholders are projected to spend roughly $30,000 per year, 50% above that of average credit cardholders, Deserve’s co-founder and CEO Kalpesh Kapadia told Bloomberg.Mastercard previously invested in Palo Alto, California-based Deserve in June…