So its more expensive than debit cards (0.05% + 21c) to the merchants, and has no reward incentive for the consumer (1-1.5% back in cash or points is typical).

So its more expensive than debit cards (0.05% + 21c) to the merchants, and has no reward incentive for the consumer (1-1.5% back in cash or points is typical). Who was it supposed to appeal to?