Setting
At present, banks issue separate credit cards and debit cards to their chosen customers. If a customer were to bank with three different banks (which is the ‘normal’ thing these days), the customer would end up holding six different cards – three credit cards and three debit cards of the chosen banks !
Pain
All these cards add to the weight of the wallet the customer carries. Sometimes, unintended cards may be taken out by mistake by the customer in the first attempt resulting in focused efforts to pick the right one !
Solution
First Phase:
Banks may consider and issue only one card which can be used both as a debit card and a credit card.
Second Phase:
All the banks in the world may come together and facilitate their customers to hold only one card where all these banks’ debit and credit cards are loaded.
The customer will still have the option – to use particular bank’s debit or credit card
Third and Final Phase:
Instead of these cards in physical form, ekards may be issued (only to differentiate these ecards from the other ecards – electronic greetings cards in the market place, I have chosen to spell this as ekards !)
Our financial technology can facilitate this and much more!