4 ms·

Another one of those technologies which hasn't kept up with the evolving tech landscape.

• swiley 10y ago
  It's pretty unfortunate that there is absolutely no federated, popular, and secure payment system in the US due to consumers and merchants simply sticking with older systems simply because "it's what we've always done."
  • ian0 10y ago
    There are many parties that would gain from a better payments system. However the logistics of improving it are significant due to the number of highly regulated and kinda-fat and kinda-happy entities running the infrastructure. Interestingly what has happened in India and China (success of non-bank payment wallets VS cards) is injecting a lot of the traditional players with a sense of urgency. Before this it would have taken a states intervention (Eg MEPS in Sing/MY) to improve acceptance through the launch of a new payments system.