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Why are we optimizing physical paper check cashing instead of streamlining Consumer/Business to Consumer/Business fund transfers?
by dimarco 17y ago
Why are we optimizing physical paper check cashing instead of streamlining Consumer/Business to Consumer/Business fund transfers?
- InclinedPlane 17y agoThe real answer to your question is that the system is highly regulated. Paypal survives by being just enough of a hassle in terms of limitations and fees to avoid being suitable as a 100% replacement for existing banking. And nobody has the balls to do a ground-up rewrite of the way banking should work in the modern age of ubiquitous telecommunications and computing. So instead people work toward tweaking the existing systems just a little bit, because that's safe and won't get you burned at the stake by the regulatory agencies.