The creation of the ZIP temporary visa card, means you don't...

The creation of the ZIP temporary visa card, means you don't need to pay the $2.50 "bpay fee" zip charge if you pay your bills using zip.... just create a temporary visa card, and use that?

Likewise, if you went into a store, they could technically manually punch the digits into their eft terminal and process it....

The upcoming feature they are trialling of pairing the temporary visa with your phones NFC chip will mean you can use it in person anywhere just like a regular card.

After a bit more thinking, this is really a huge change for ZIP in terms of ease of use for the consumer, effectively killing the banks traditional credit card.

It will certainly have a MASSIVE increase on ZIP user transactions....

My only concern is, as I mentioned above, it effectively kills off the whole necessity for stores/merchants to "sign up to accept zip instore" .... why would they bother doing that, and get charged merchant fee's from ZIP, when the user can just pay with the zip visa and the merchant is charged the standard visa fee no different than if a customer used a credit card?

Seems as though it's killing off / phasing out one revenue stream (merchant fees), in favour of higher transaction volume for a (presumably) smaller split fee with VISA, and then the user account fee's / late fee's etc.