Visa/Mastercard may well be forced to try something like this in order to survive. Banks are opening up their own API's for P2P payments (at least within the EU due to legislation). This could completely negate the need for intermediate "payment networks" (except the following).
However - I don't think you'll see a proliferation of new payment methods. The biggest problem here would be fraud mitigation, so it'd need to be a payment provider the merchant deems trustworthy enough.
Interesting times ahead. Amex are just doing the bare minimum to keep up here.
However - I don't think you'll see a proliferation of new payment methods. The biggest problem here would be fraud mitigation, so it'd need to be a payment provider the merchant deems trustworthy enough.
Interesting times ahead. Amex are just doing the bare minimum to keep up here.