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Everything should be pay-as-you-go. We need infrastructure for low fee microtranscactions. Subscriptions exist because of the minimums on card payments. You can
by carom 4y ago
Everything should be pay-as-you-go. We need infrastructure for low fee microtranscactions. Subscriptions exist because of the minimums on card payments. You can't charge a cent to read an article because the banks will be taking 20c + 2%.
Micropayments are my dream. I'm extremely negative on cryptocurrency but the lightning network is the closest technology I have seen to achieving it. It is just a nightmare to use. I looked into going through banks and it was just a nightmare to set up something that had the hint of being a money service business. I will feel like the future has arrived when I can pay 5 cents for a news article or pay per second on a YouTube video.
Micropayments would also unseat advertising (and tracking!) as the defacto payment mechanism on the web.
- habosa 4y agoOther countries, like France, have credit card fees < 0.5%. The US lacks competition, regulation, and innovation in payments. https://www.valuepenguin.com/interchange-fees-na-vs-eu https://www.valuepenguin.com/interchange-fees-na-vs-eu
- carom 4y agoYes, that is what I am saying. Our banks are the problem. Does the 0.5% have a flat fee attached to it or could I make a 1 cent charge (+ 1 cent fee)? Edit: There are still gateway fees so my point stands.