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If they succeed, it will mean the financial transaction space is truly becoming efficient. At $.25/transaction and an average transaction size of $500, that me
by secretasiandan 15y ago
If they succeed, it will mean the financial transaction space is truly becoming efficient. At $.25/transaction and an average transaction size of $500, that means a charge of %0.05 or 5bps. Compare that to most credit card companies that charge 2% plus a fixed transaction fee.
That also means their current run rate is $175,000/year which is not a huge business.
- suking 15y agoYah - even if they get to 3.5bn it's a tiny business for taking so much risk. They need to re-think their (pricing) model.
- hop 15y agoIf it catches on in retail - like coffee shops, restaurants, etc..., I bet that average will go far down. Sounds like the average is weighted towards with the renters/landlords they have.