Bank transactions are anything but simple to set up in some places, and can also be very expensive to set up when you're talking about international transfers o

Bank transactions are anything but simple to set up in some places, and can also be very expensive to set up when you're talking about international transfers of money. Thankfully there are things like IBANs and BICs, but that doesn't help when a bank wants to charge you something like 5x the value of the transfer (when the transfer is a low value, like 5/month). Credit card processing already handles the whole international transfer cost, and puts the burden on the processor instead of the payer. That processor can then do things like batch transactions to reduce the cost.