The trouble is, none of these firms is revolutionizing payments, not really. That's because the payment revolution already arrived decades ago, and it's here to stay. Despite their limitations, credit cards are the real breakthrough in payments—the fastest, most versatile and most secure payment method ever invented. Nearly every start-up working in payments is simply creating a new front end for your credit card.
While this is partially true, disruption begets disruption. Companies that make useful abstractions on top of credit cards can then start changing what the backend of their system looks like.