I'd argue that credit cards are conceptually not very different. Users pay the fees both directly (annual costs, interest) and indirectly (increased prices due to vendor fees), and the shareholders reap the benefits.

Just like credit cards, and the various digital currencies like Bitcoin (where exchanges have plenty of regulation and reporting requirements to deal with!), this will be subject to regulation and governmental oversight.

Note that I'm not a fan of this at all, due to the company behind it.

But it's not a groundbreaking new concept, or very scary if seen in isolation.