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FTA: "Borrowers don’t incur any interest unless they miss payment deadlines or sign up for installment plans." So yes, this sounds exactly like a western style
by ac29 7y ago
FTA: "Borrowers don’t incur any interest unless they miss payment deadlines or sign up for installment plans."
So yes, this sounds exactly like a western style credit card, just with a micro-credit limit. You get X days of interest free credit, then pay interest if you take longer than that to pay (or set up a fixed payment plan, which some western cards also offer).
- bitcoinbutter 7y agoCredit card companies also make a huge amount of revenue from merchant fees. Every transaction carries a fixed and percentage-based fee. Often something like $0.29 + 2.5%. Payment companies like Alipay have much lower fees to the merchant, from what I recall.
- hrktb 7y agoThat's pretty expensive. Even Stripe is below that (1.5%) in EU, going another PSP gets it down to something lower in general. E.g. for Adyen it's 1.1% with 1.1E fixed. [0] https://www.adyen.com/pricing/full-list https://www.adyen.com/pricing/full-list
- toomuchtodo 7y agoInterchange fees are regulated in Europe. https://ec.europa.eu/commission/presscorner/detail/en/IP_19_2311 https://ec.europa.eu/commission/presscorner/detail/en/IP_19_...