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>>What is it that all these failed startups missed? The United States..... because I can assure you the rates you indicated are no where near what we have her
by phpisthebest 4y ago
>>What is it that all these failed startups missed?
The United States..... because I can assure you the rates you indicated are no where near what we have here. Card Present transactions are 1.5% + 0.15 cents per transactions Card not present it normally 2x that, ACH takes days and is not a fraction of a cent for the normal person, etc.
- arcticbull 4y agoDoesn't really matter. You load up a wallet like you do today and have for decades then pay people from that. FedNow unequivocally solves this problem, and I guarantee you, it won't lead to micropayments because payments infrastructure is not now and has never been the blocker. After all it's also not something people in countries with lower interchange or instant payments want.
- phpisthebest 4y agoPeople did not want an iphone until the iphone came out.. They did not want social media until someone created a platform judging everything by what people claim to want is foolish
- arcticbull 4y agoI don't disagree with that at all. However, micropayments have come out before, many times, in many different iterations. It never got any traction. Again, I'd love to see a different model of monetizing the web too, I just don't have any reason to believe this is it. With iPhones, nobody wanted it until they got it, but then they couldn't get enough of it - even though it started out only doing a fraction of what people wanted to use it for. With micropayments they've had it several times and each time they said "no thank you please."