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> This in comparison to the wild west of submitting your payment information to every Tom, Dick and Mary out there. Somehow capitalism survived this situation
by _qulr 6y ago
> This in comparison to the wild west of submitting your payment information to every Tom, Dick and Mary out there.
Somehow capitalism survived this situation in all of history prior to 2008. Also, Visa and Mastercard have a duopoly over payments, so it's not entirely accurate to say that it's the "wild west", or even that there weren't "trusted parties" before Apple.
In my experience, the credit card companies are actually quite protective of customer payments, and you don't have to pay if there's fraud. They just cancel your card and send you a new one. It's largely the merchants who have to eat that cost.
- falcolas 6y agoHow many websites out there - who don't use a trusted third party like Stripe or PayPal - are you willing to submit your Visa or MC information to? My answer is pretty close to zero, with a few exceptions for large companies who have earned my trust with my payment information.
- _qulr 6y agoI do it all the time, and have for decades. ¯\_(ツ)_/¯ Personally, I don't have much trust for PayPal or Stripe. PayPal is infamous for randomly banning accounts, for example.