While it sounds great that someone is taking a stab at making transferring money easier and cheaper, they are clearly missing a few crucial points. First, they

While it sounds great that someone is taking a stab at making transferring money easier and cheaper, they are clearly missing a few crucial points. First, they are complaining credit card companies charge them for their service - on the other hand, those companies do have costs for building and maintaining their systems and all costs that come with it. We will leave the question whether their prices are reasonable or fair aside for now. Another benefit I get from CC transactions: when I send money to the wrong person or got scammed, I can just have VISA cancel it and I get my money back. In the good 10 years I have been using my own CC(s) I needed to do that maybe 2 or 3 times and it worked absolutely flawlessly. You cannot just cancel a bank transaction and get your money back like that. Also, wiring money abroad is going to be a much bigger problem for them. But there is a far more fundamental flaw in their logic: > "We think, in the long term, sending money should be as easy and effortless as finding a friend on Facebook." The reason anything money-related is so over-regulated and cumbersome and full of regulations and bureaucracy is not just "the man keepin' ya down, bro" and neither is it only stupid people who only try to come up with empty regulations to bill you. All that is in place to fight against money laundry and help make it more difficult for worldwide organized crime to make easy use of their illegal cash. The very reason you can not just send money as easily and effortlessly as friending someone on facebook is: if you could, your first customers would be organized crime. They cannot wait for new possibilities to launder money easier and faster. I am wondering how they can be moving 50 million a week without all sorts of agencies cracking down on them? This has got to be heaven for small and big time drug (or weapons, humans) sellers as of now. So ultimately, it makes me sad this doesn't look like a promising replacement for the paypal overlords.