IBM is reportedly working on a digital cash technology to work with global currencies.
Such a digital payments network could have major repercussions for the high margins of Visa and MasterCard.
The technology concept has an interesting twist considering the partnership IBM is forging with Apple and the ability to connect this network with Apple Pay.
Last week, Reuters broke news that IBM (NYSE:IBM) was working on adopting bitcoin technology to potentially develop a form of digital cash for a payments system. The details are sketchy at this point, but the news should give pause to a few high-priced stocks in the payments processing sector.