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David Marcus (former PayPal,FB) that China skipped the whole credit card step and leapt from a cash economy to mobile; he said they pay less that 20 bips. https
by houseatrielah 3y ago
David Marcus (former PayPal,FB) that China skipped the whole credit card step and leapt from a cash economy to mobile; he said they pay less that 20 bips.
https://www.bankless.com/early-access-why-facebooks-stablecoin-failed-with-david-marcus https://www.bankless.com/early-access-why-facebooks-stableco...
- arrosenberg 3y agoHas nothing to do with China or cards and everything to do with American laws and culture. Europe also has 0.2-0.3% interchange rates on credit, they don't have consumer rewards programs. The high interchange rates pay for the rewards programs (and generate a ton of profit).