The credit card and debit card industry is held down mostly by two providers in VISA and Mastercard. While you can't say they individually hold a monopoly, combined they do control the entire industry. For a new provider to come in and offer a debit card, the wall to climb would be so high, just with getting retailers to accept it and most of all, consumers to trust it - that it seems to be an impossible venture to embark on. This could be a possible reason why nobody has really tried to do it. With really only a few other providers to choose from in Discover and American Express, your options are slim and the compatibility with banking systems is the other border wall for consumers to use new innovative services as it pertains to payment network-based innovation.
How We Can Help
Enter cryptocurrencies and blockchain-based fintech solutions. There are many new decentralized payment networks popping up and in use around the world like Alliance Pay, amongst others that are really setting a standard for bringing about decentralizing payment networks but we can always do better and expand upon these solutions to bring them to the masses. For this reason, within Arisen's network, we have built-in a set of system-based robotics for aSwipe projects to get off the ground and manage payment cards through NFC-based technologies and cellular devices, where seasoned developers can build upon this functionality to create the payment networks of the future for countries who really need them and consumers who have grown tired of the status quo. Our church community is already actively supporting the aSwipe incubator through several projects, including the initial aSwipe functionality within Arisen's network and are looking for more innovators to join our incubator to help bring about better and more decentralized payment networks.
How Can I Start An aSwipe Mission?
Go figure, we built a dApp for that. Any Arisen Church member can create a mission through the Arisen Church members portal located here.