The card may look like a credit card, but it doesn't have the fraud protection, chargeback, or cancellation features of a real card. Within a closed conference that's fine, but it sounds dangerous to distribute this to a wide audience people as if they were the same as credit cards.
No chargebacks = I’m happy to sell you now, knowing you can’t defraud me by walking away with my stuff and my money too.
There's an arbitration process for chargebacks.
How is this different from the payment system that https://www.get.systems/ offers for several large festivals?