Nick Chong · 13 hours ago · 2 min read
VISA is recruiting project managers to work on its crypto team. A recent job posting indicates the company is searching for a full-time technical product manager position familiar with blockchain for the company’s Palo Alto-based location, VISA Fintech.
VISA Seeking Blockchain Candidates
According to the job description, VISA is looking for candidates who are knowledgeable and experienced when it comes to permissionless blockchain technology.
In terms of qualifications, VISA expects applicants to have graduated from a top-tier university, have an understanding of advanced cryptography and possess deep knowledge of the cryptocurrency space and the major players involved.
Visa’s Crypto Team and the Product Manager’s Role
VISA’s crypto team, which falls under the corporation’s Fintech Product Group, is tasked with collaborating with the VISA research team to create “innovative products” that would be of value to VISA and other fintech companies.
The responsibilities of the technical product manager were listed as follows:
- Manage the product strategy and roadmap for cryptocurrency related opportunities
- Define product scope and feature prioritization and be flexible to iterate/change per latest developments to meet deadlines
- Ideate and execute opportunities to build products that leverage Visa’s core competencies
- Influence and provide market feedback and knowledge sharing to the entire cross-functional team and executive leadership
- Work closely with all stakeholders to ensure successful end-to-end delivery of products
- Keep up with cutting edge technology especially open source projects, and strive to contribute to Visa’s IP portfolio
Generally, the product manager’s work will revolve around the development and creation of product ideas, and the execution of the strategies to deliver quality products.
Innovating in the Payments Space?
VISA’s decision to create a crypto team appears to be in line with the corporation’s goal of being the “best method of making payments globally.” The move also confirms comments made by the CEO in an Oct. 2018 interview with CNBC.
In the interview, Al Kelly, the CEO of VISA said he did not consider Bitcoin and other cryptocurrencies competitors since they were more of commodities than tools for payment.
“If we have to go there, we will go there, but right now, it’s more of a commodity than a payment vehicle.”
From Al Kelly’s comments, it was possible that VISA was willing to look into cryptocurrency and blockchain technology if cryptocurrencies became more competitive as a means of payment. Now, perhaps the technology has improved to the point where it’s worth it for the company to explore further.
The recent move to create a crypto team could be a response to the growing number of fintech products aimed at making cryptocurrency payments cheaper, faster, and more convenient. For instance, while there has been a lot of progress on the Bitcoin Lightning network, several crypto payment systems involving cards and point of sale terminals are being developed by various startups, with mixed success.
Consequently, VISA’s decision to venture into the crypto space could be an attempt to stay ahead of these developments and compete to remain the “best means of payment.”