A new form of money – which, according to some experts, could actually render Bitcoin, PayPal, even traditional cash and credit cards obsolete – is set to make its “debut” this October.
And although you probably haven’t heard much about this new form of payment, at least not yet, anyway (most Americans haven’t)… rest assured, it is coming. And very soon, The Crux reported Saturday.
TechCrunch, for one, calls it “the payment vehicle for 2015 and beyond.” JP Morgan Chase calls it simply, “a game changer.” And here’s the incredible thing…
Unlike bitcoin, President Obama recently signed a federal mandate that supports this innovative new form of payment.
That’s why the New York Times calls this development “groundbreaking” saying, “It could regularly replace cash, checks and credit cards.”
Already, the global financial community is quickly preparing for the massive “new money” overhaul:
* The six largest banks in America, including Bank of America, Citigroup, and Wells Fargo…
* The world’s largest payments processing firm, First Data Corp. which processes more than 2,000 financial transactions every second…
* Over 220,000 US retailers, including McDonald’s, Walgreen’s, Staples, Toys ‘R’ Us, Target, Starbucks, Disney, Whole Foods, and Macy’s…
* Even the three major American credit card companies—Visa, MasterCard, and American Express…
These institutions – the fundamental backbone of the American financial system — have all signed on to back this new money initiative – what is likely be the biggest change to money in the US in decades.
And things are moving quickly. Recent “test runs,” for example, at businesses including McDonald’s, Whole Foods, Walgreen’s, and Starbucks were met with astounding success.
