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And who's going to give you a warranty on your money? Bitcoin? hahahah
by mahouse 11y ago
And who's going to give you a warranty on your money? Bitcoin? hahahah
- chinathrow 11y agoI haven't mentioned Bitcoin at all. No, the fee structure tied to CC (and also PayPal since it's largely based on CC) is so multi-tiered, that it needs to be redone without up to 5 tiers (PayPal, Visa, Issuing bank etc) making money on a transaction. EFTPOSin Europe e.g. has way lower transaction costs and there is absolutely no reason why this shouldn't apply for credit card transactions. Some european countries have been regulating the visa/master card interchange fee already, I hope there is more to come.
- tacos 11y agoPayPal is free for friends/family when you use a bank account instead of a credit card. And a variety of US banks already allow you to transfer money via ACH for free, even between banks. EFTPOS actually originated in the USA in the 1980s. In the NYC area it was known as "NYCE" and centered around ATM sharing. Citibank didn't join and that one drunk friend who'd insist on walking eight blocks in a shady neighborhood at 3am to save a buck pretty much killed the movement.