Good-Guy
VIP Contributor
Cards such as debit cards are used all over the world. The first card was used in the 1950s. So, the credit card technology is quite old. However, we have been seeing a massive usage of cards in the Tier 2 and Tier 3 countries also. So, gone are days when cards were used in Tier 1 counties only. However, there is a massive number of people who do not use card in Tier 3 countries. In fact, majority of the people still rely on Cash payments. I really do not know what will be the future of card payment system because now there are other payment methods that are in use by many people. Many countries have their own internal payment processors now and these payment methods are now in use by majority of the popular restaurants, shops, malls, etc. Please note that you do not need to have a specific amount of bank balance to use these local payment processors unlike cards that require you to hold a minimum amount in your bank account. This means that even a man who belongs to the middle class could use these local payment processors. So, do you think that inception of local payment processors could have an impact on the usage of card payment systems like Visa card or American Express?