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The market is still ripe for disruption, this is a defensive move based on fear and the eventually that the era of free money for these players is coming to an

The market is still ripe for disruption, this is a defensive move based on fear and the eventually that the era of free money for these players is coming to an end. These middle man are going to be cut out sooner than even they expected, since every smart phone is a PoS device e.g., the move with iPhones in Australia https://www.smartcompany.com.au/industries/retail/apple-iphone-tap-payment-small-business-portability/ https://www.smartcompany.com.au/industries/retail/apple-ipho...

hocuspocus 3y ago
It's already started, unsurprisingly in countries like China, India or Brazil, that didn't have widespread card acceptance and could push mobile payments faster. The EU has more or less given up on creating a new competing card payment scheme (EPI) and wants to support mobile payments instead. The EMPSA has already started federating a few domestic networks, and should also eventually be interoperable with AliPay, WeChat, UPI and so on.