EC cards, when they first came out, were revolutionary and way better than the credit cards of old. Eventually, though they became increasingly unusual, mostly

EC cards, when they first came out, were revolutionary and way better than the credit cards of old. Eventually, though they became increasingly unusual, mostly thanks to the internet (no way to pay with them there. They had a hidden creditcard-like number, but you would never know), and are now dying because enough banks have started handing out creditcardesque debit cards which work on the internet. Of course this also meant we lost some 20 years of digital advantage of an universal global payment system. Lessons learned: Technical leadership is nice, but don't think once you are ahead, you'll stay ahead.