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I think the biggest hurdle is the regulation that would be faced from a say start up PayPal now. As you might of heard Facecash nearly died because of the mone
by mrkmcknz 15y ago
I think the biggest hurdle is the regulation that would be faced from a say start up PayPal now.
As you might of heard Facecash nearly died because of the money transmitter act.
You might not need banking regulation but a money transmitter in every state would be very, very costly indeed.
However there is Venmo.
- espadagroup 15y agoAll things equal, is there really that big of a difference in regulation between accepting payments and sending payments?
- mrkmcknz 15y agoI don't think that is the issue. I just think it is point blank the cost of a license that I 'believe' costs around $500,000 in California. See here: http://www.aarongreenspan.com/writing/brown.html http://www.aarongreenspan.com/writing/brown.html