Bitcoin has been touted as a potentially disruptive technology in the financial sector, possibly replacing other forms of payment. This raised the question whether bitcoin might soon overtake credit cards of these can co-exist.
According to CardLinx CEO Silvio Tavares in last week’s Keynote 2015 conference, bitcoin and credit cards don’t necessarily have to outlast each other. He shared how CardLinx puts focus on developing standards for promoting card-linking, a process by which the consumer data managed by payment companies is shared with merchants to target discounts and rewards.
Credit Cards Linked to Bitcoin?
CardLinx was founded in 2013 with founding members including Bank of America, Facebook and Microsoft. As stated on its webpage, “The CardLinx Association includes some of the largest banks, merchants, digital publishers, payment networks, merchant acquirers, payment processors and offer technology companies in the world. Our members serve or represent over 6 million merchants, have issued over 1.9 billion payment cards, and serve consumers with over 200 million card enabled accounts and over 700 million active daily users.”
However, some members of the bitcoin community