PayPal is an e-money business and also a payment processor of its own. It doesn't need cards to survive.
It's Visa and Mastercard that need to be worried, because most of their money comes from card network fees and I'd imagine a good amount of their business comes from debit cards, which they would need to replace with their own CBDCs (ironic right) if those were to go away.
Prepaid cards would definitely be in trouble though.
It's Visa and Mastercard that need to be worried, because most of their money comes from card network fees and I'd imagine a good amount of their business comes from debit cards, which they would need to replace with their own CBDCs (ironic right) if those were to go away.
Prepaid cards would definitely be in trouble though.
Of course not! PayPal has its very own stablecoin, too. So it can do well without credit/debit card companies. They'd be the ones in trouble. Especially with the shift towards digitalization. Right now, Visa and Mastercard issue virtual cards. Maybe they will stay with that business model after CBDCs go public? All they have to do is phase out the use of plastic cards for good.
I don't know. I'm just speculating here. Whatever happens, you can rest assured Bitcoin won't be going anywhere soon. Fiat will evolve as history has shown us. What's important is that people get true financial freedom and self-sovereignty. And what currency does it better than Bitcoin itself?
