First, loans create deposits. It is a (short-term) loan for the purchaser but it creates a real deposit for the seller. In as much as you equate "value" with ex

First, loans create deposits. It is a (short-term) loan for the purchaser but it creates a real deposit for the seller. In as much as you equate "value" with exchange medium (money/crypto) then credit cards create value out of thin air (the purchaser still has his deposit AND the seller gains a deposit, all the while their deposits enable the loans by the bank). The fact that we have more than one bank and real settling between banks doesn't reflect the minutia of actual transaction is irrelevant. In terms of "who pays," well, I doubt people who currently don't pay will somehow decide to pay while free services remain available (even if at the cost of getting targeted ads/loss of privacy). If anything, right to be targeted is the real "value" that is being (and presumably will continue to be) exchanged.