> Also, credit cards are already very convenient and near universally accepted. It's hard to compete with that.
Oh, come on. Maybe it's a US thing, but credit card is the last but one (just before a manual transfer) payment method I use (in Europe, Poland most of the time). It requires providing full credentials to every merchant you transact with on-line. It requires taking out your wallet and typing all this data in. Or taking out your wallet and taking photos of both sides in some modern apps, then checking for correctness. I actually use PayPal as my card payment gate to minimize the number of parties that see my complete set of payment authorization data. Credit cards are moderately convenient when used off-line and completely unadapted to being used on-line.
Oh, come on. Maybe it's a US thing, but credit card is the last but one (just before a manual transfer) payment method I use (in Europe, Poland most of the time). It requires providing full credentials to every merchant you transact with on-line. It requires taking out your wallet and typing all this data in. Or taking out your wallet and taking photos of both sides in some modern apps, then checking for correctness. I actually use PayPal as my card payment gate to minimize the number of parties that see my complete set of payment authorization data. Credit cards are moderately convenient when used off-line and completely unadapted to being used on-line.