Market Mad House

In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche


TenX Stupidity and French Bank will Support Apple Pay

Some recipients of TenX’s new cryptocurrency-converting Visa debit card are taking stupidity to a whole new level. The same people are proving that life is often very easy for criminals.

A few new cardholders are apparently snapping pictures of the card and putting them online or on social media without covering the numbers. That makes for crooks to see the number and steal it.

TenX even Tweeted please cover the numbers and made a video telling people to cover the numbers. Whether those individuals will be smart enough to cover the numbers is anybody’s guess.

TenX itself apparently added to this problem by creating a GotMyCard feature. Disturbingly, a batch of those who got TenX cards, fortunately, they only work in parts of Europe right now for reasons that are too cumbersome to go into here, shared pictures of the whole card.

More Trouble for TenX

That, of course, created a risk of theft and some nasty liabilities issues for TenX. Is the company responsible if a crook uses a stolen card number posted on its’ website?

Such shenanigans will definitely not endure TenX to Visa; which has shut off some of its cards, or to MasterCard which is just as hostile to cryptocurrency cards. Despite that the TenX debit cards are a pretty impressive product; they can convert several altcoins including DASH, Ethereum, and Bitcoin into fiat currencies instantly.

That is supposed to enable users to be able to buy stuff at brick and mortar stores with their cryptocurrency balances. It only works, as long as the balances are held in TenX’s digital wallet.

 Major French Bank to Support Apple Pay

Apple (NASDAQ: AAPL) has finally convinced a major French bank to support Apple Pay.

Société Générale SA (OTC: SCGLY) France’s third-largest bank; and the sixth-largest financial institution in Europe, announced that it will support Apple Pay sometime in the near future, The Street reported. No specific date for the support was announced but this is a major coup for Apple.

Currently, only a few smaller banks and financial institutions owned by other companies support Apple Pay in France. Institutions currently supporting Apple Pay in France include the bank owned by the nation’s second-largest supermarket chain; Carrefour SA (OTC: CRRFY), and an internet start-up backed by the telecom company Orange SA (ORAN).

It looks as if Apple Pay still has a long way to go to get mainstream acceptance in France, just like in its homeland of America.