5 ms·
I think there's a place for a nationalised network or some sort of not-for-profit org. Seems silly to rest such an important part of society in the hands of a
by amaccuish 8y ago
I think there's a place for a nationalised network or some sort of not-for-profit org.
Seems silly to rest such an important part of society in the hands of a few private orgs. Or maybe even empowering banks to better compete (as long as we don't end up with 50 different networks).
- howard941 8y agoThe post office would be a good host for such a network, among other banky things.
- DesiLurker 8y agoIt does so in India for rural communities. I've always wondered why it cannot do low cost banking in US. they already have the infrastructure and the manpower.
- Cu3PO42 8y agoWe have a national network in Germany. It’s called girocard and has debit cards only. You get one from your bank by default for every checking account. Transaction fees are very low at ~0.25%. They double as an ATM card and are usually co-branded with either Maestro or V-Pay so you can use them internationally. Of course they’re not perfect and are often behind MC/Visa when it comes to new features like contactless, tokenization, etc., but it’s still a great little system.