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While this is a hostile development that will be painful for some, there's a part of me that's grateful for every shitty thing they do because it increases the
by RickS 8y ago
While this is a hostile development that will be painful for some, there's a part of me that's grateful for every shitty thing they do because it increases the likelihood of a challenger.
Would Stripe exist if PayPal hadn't been so hostile to their customers? Giant markets of money movers all explicitly saying "We hate having to use these guys, isn't there anything better?" tells David that it might be worth fighting Goliath.
IMO blockchain is like a green-party candidate that undermines more promising candidates by sapping votes in a system that doesn't allow runoff voting – it's a shiny, utopian distraction that prevents people from starting the companies I think are more appropriate and promising – card & payments startups that support or resemble existing infrastructure.
Privacy.com, Final (RIP), the venmo card – the first company to unseat the incumbents in the card space is going to be a big deal. Stripe is making excellent headway in eating the elephant, using their web payments platform to get big enough to compete in the more difficult card issuance space. Here's hoping they have ambitions of re-investing the clout they get from cards to attack the underlying processing layers, and disrupt global financial infrastructure from the outside in.
The Point Of Sale industry is making great headway here too. Revel, etc. The blockchain equivalents have flopped, but the card-based ones are now standard issue at even the tiny mom and pop stores. There's real hunger for modern tech in the payments space, it just needs to roll out in more accessible stages.
- martin_bech 8y agoWe have a solution in Denmark, thats cheaper called Dankort, litteraly everyone over 18 has one (Works just like any credit card). Jointly created by all Danish Banks. Works pretty much flawless, but the banks jointly sold the company behind it, and now looks like some banks wants to let it die... So they can instead get kickbacks from Visa/MasterCard.
- RickS 8y ago> the banks jointly sold the company behind it, and now looks like some banks wants to let it die There could be a dark brilliance to such a move. Want to raise your margins? Get paid to sell your low margin product, let it die, and get paid again when you raise your margins in the new market.
- deleted 8y ago[deleted]