Instead of Coin pulling a Netflix, it’s the duopoly Visa and MasterCard transforming the current credit and debit card.

It’s solving a non-existent problem: In the UK magnetic swipe is already obsolete. My credit and debit/ATM card are now a smartcard. And last year they’ve put NFC in. So no swiping ever.

Visa Debit Card, a photo by MoneyBlogNewz on Flickr.