What's your view about Bitcoin?
Possible future scenario: Credit card companies become increasingly picky about who they'll process transactions for, and this becomes the thing that tips the general public into using cryptocurrency in transactions, ultimately killing credit cards.
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If they’re rational, they shouldn’t cause their own downfall this way.
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We don’t really need cards if we can use our phones. They’re preparing for a world where cards will no longer be in use, I’m sure.
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This would also kill consumer spending since most day to day consumption is on credit.
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not unless people truly dont need to go from cryptostuffs into tender there's no guarantee of that especially when the USGov views currency maintenance as key to national security
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together with open banking APIs commoditizing the transactional value and paving the way for CBDC
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this happened after 2008 amex paid their low end $300 to close their cards cryptostuffs werent around at the time, but amex's low end needed support borrowing more than anything else that's the problem to solve, imo
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but to your point, credit cards are a form of privatized cash and cryptostuffs could be described as decentralized cash whomever gets the decentralized + privatized balance right will probably make a mint
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