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Paypal is one of the few that is in a position to do it. With direct bank account debit they do have one option. As paypal gets used more and more online, paypa
by triviatise 15y ago
Paypal is one of the few that is in a position to do it. With direct bank account debit they do have one option. As paypal gets used more and more online, paypal will be able to get retail merchants to accept paypal payments. The timeline to effect change like this is extraordinarily long. Think about how hard it is for AMEX to be accepted everywhere and the merchants already have the hardware.
- Travis 15y agoGiven that paypal already has their own credit card, they probably have decent relationships with the current leaders. Seems much more likely to me that they would simply join the credit card cabal, rather than challenging it. Also, mobile payments show a great deal of promise.
- stock_toaster 15y agoI believe one strike against AMEX is their higher merchant fees, as compared to the other card vendors. I recall when I was young that sears started discover card, and it wasn't terribly long from the first time I heard of it to the first time I saw logos on windows and people accepting it. At the time discover had no annual fees, and 'cash back' which I recall both being novel at the time (I was young though, so I don't recall too specifically). I think consumer demand helped push the vendor market, as well as Sears itself.