5 ms·
The problem is that there's no equivalent party in the "infrastructure" position in the US that Interac occupies in Canada. There's just 500 different state-lev
by derefr 4y ago
The problem is that there's no equivalent party in the "infrastructure" position in the US that Interac occupies in Canada. There's just 500 different state-level banks, who all license different companies to make their ATM cards. (This is the same reason it took so long for the US to get past two-day ACH settlement.)
- cmeacham98 4y agoFor the purposes of accepting these cards as payment (which seems to be a much more common skimmer threat, for example at gas pumps) don't MasterCard and Visa fill this role?