Visa, the second largest payments processor in the world, is continuing to wade into Web3 waters. The company currently has a job listing seeking out a senior software developer for its cryptocurrency team.
The listing calls for “experienced software engineers” who are “passionate about the Web3 stack of technologies,” specifically an engineer in London who “understands the new Ethereum enhancements.” The job post also mentions ERC-4337, a standard for releasing tokens on the Ethereum blockchain, and candidates familiar with “private key custody” and “security protocols.”
According to a post by Visa, their crypto team is “building the next generation of products to facilitate commerce in everyone’s digital and mobile lives.” The team aims to be innovative and create “intuitive features” in Web3 to bring new value to customers.
Visa has been involved in Web3 in the past. However, one of its partners was the failed crypto exchange FTX, whose demise appeared to put a temporary pause on Visa’s Web3 plans.
However, in October 2022, Visa filed new Web3-related trademark applications with the USPTO. Then four months ago, the global payments processor published a technical piece on its website explaining the possibility of leveraging the Ethereum blockchain to allow automatic payments in cryptocurrency.
In the past, the company has said that crypto must be as good, if not better, than current methods for payment processing.
Global Payment Processors Are Pushing into Web3
The new job posting from Visa shows the company, despite its early setbacks, still believes in Web3 and the implications its nascent technologies could have on finance. But Visa isn’t the only global payments processor that thinks so. We’ve covered several articles at Rarity Sniper about global payment companies investing in Web3. Here are some of the top stories.
First, two weeks ago, Mastercard announced it was launching a new NFT set at NFT.NYC. The music NFTs grant access to Mastercard’s new Web3 music accelerator, as well as educational materials related to Web3 music and an artificial intelligence (AI) studio that launches in May.
Also from Mastercard, about three months ago, the company teamed up with Binance to release a prepaid crypto rewards card in Brazil. The card enables Binance members to make everyday purchases in several cryptocurrencies and the Brazilian Real.
Finally, on December 14th, PayPal teamed up with the crypto wallet MetaMask to let users purchase and transfer Ethereum (ETH). The program is being rolled out first to users in the United States, Paypal’s largest market in terms of users.
As global payment processing companies continue to release increasingly ambitious Web3 strategies and features, we should expect more and more jobs to open up in the space. At Rarity Sniper, we’ll keep our eyes and ears open to see who Visa hires to fill its latest Web3 position.
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