Have you ever wondered what the future of credit/debit cards will be once CBDCs (Central Bank Digital Currencies) go public? People will no longer need to use a plastic card to pay for goods and/or services, as everything will be done through a mobile (or desktop) app. This means people will directly interact with the central bank for deposits and/or withdrawals. No need for middlemen like Visa or Mastercard. At least, that's what I think it will happen.
Do you think credit/debit cards will still be a thing after the launch of CBDCs? If not, why? Will payment processors like PayPal, Visa, and Mastercard survive? Your input would be greatly appreciated. Thank you.
Do you think credit/debit cards will still be a thing after the launch of CBDCs? If not, why? Will payment processors like PayPal, Visa, and Mastercard survive? Your input would be greatly appreciated. Thank you.
I think this is true that credit/debit cards will not have much value after the launch of CBDCs,on a norms technology has played a vital role in the global world and as it evolve people tend to adopt the New system of technology so I think after the launch of CBDCS debit/credit cards won't be of Great use anymore depending on the usage and likeness of the new technology.
And by the way,most person like myself even with the fact that I have my credit cards I tend not to do transact with it and prefer online or my mobile banking instead,so definitely it'll surely hit hard on credit card or debit card as well.and it can also be in use cause not everyone is comfortable with this Mobile banking of a thing.