Remember the days of seeing ads on YouTube of digital credit cards that could hold all of your cards in one? This hyped-up technology was a way for you to turn your wallet from a hamburger shape, into a thin piece of Swiss cheese. Unfortunately, we didn’t see too many of these ads and hype campaigns for very long and never really saw them in people’s hands (or pockets). So, what exactly happened to this brand-new revolutionary technology?
Bad Business Models
Many companies such as “Plastic” acquired millions of dollars in pre-orders and investments from outside investors, and then simply vanished. Of course, the reason behind this is all up to speculation. One can theorize that these companies bit off more than they could chew. The product had been there, but many credit card companies refused to cooperate and work with these outside companies creating their own digital cards.
Once Apple and Google created their digital credit card platforms for their smartphone devices, it was all over from there. Everyone thrives to have as much as possible on their phones these days and adding the ability to store credit cards just made it one less item you have to carry on your person. It wouldn’t make any sense for somebody to carry a “digital credit card” if you can just scan your phone the next time you go to the store.
Buy Them Out Boys!
Many of these digital card companies got bought out by even larger companies that wanted to venture into the digital credit card market. The company coin was bought out by the much more prominent digital components company Fitbit. Fitbit has ha
As cool of a gadget these things were going to be, they became obsolete before even hitting mass markets. This was due to a series of unfortunate events. Bad investment models as well as digital credit card systems within our very own smartphone devices.d endeavors to get into the digital credit card market but has yet to follow through. They wanted to secure a spot in the cash goldmine, by having one of the already existing companies in their back pocket.