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Laws and regulations in Europe have managed to make wire transfers and card payments cheap and efficient for both consumers and businesses.
by hocuspocus 7y ago
Laws and regulations in Europe have managed to make wire transfers and card payments cheap and efficient for both consumers and businesses.
- gridlockd 7y agoIt's not that cheap: https://en.wikipedia.org/wiki/Electronic_cash#Costs https://en.wikipedia.org/wiki/Electronic_cash#Costs You may think 0.3% isn't much, but with razor-thin profit margins (e.g. groceries) it does make a difference.
- hocuspocus 7y agoHandling cash isn't necessarily cheap either.
- gridlockd 7y agoYes, but we're not comparing cash, we're comparing one digital solution to another digital solution. Libra does have the potential to further reduce fees. Also, in order to use EC, you need a bank account, so it doesn't help the unbanked, which do exist even in Europe.