30 Jun '15, 1pm

Online payments halted in Greece, citizens eye Bitcoin to protect savings

Online payments halted in Greece, citizens eye Bitcoin to protect savings

File photo - A protester waves a Greek flag during an anti-austerity rally in Athens, Greece, June 29, 2015. (REUTERS/Yannis Behrakis) In the midst of the ongoing financial crisis, Greece has stopped online payment transactions from going ahead using Greek debit or credit cards. This follows the introduction of a 60 euro/$67 ATM withdrawal limit, and the week-long closure of the country's banks, amid strong concerns Greece will abandon the euro as its currency. With such restrictions in place, there is evidence Greeks are turning to Bitcoin as a way to protect savings. Greek debit and credit cards linked to international stores online have been blocked. For example, visitors to the Greek iTunes page are presented with a "Payment is declined" message when attempting to download an app, either paid or free, and told to update their payment method. Then, a similar message to ...

Full article: http://www.foxnews.com/tech/2015/06/30/online-payments-ha...

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