2 ms·
Is it a big deal if foreign competitors aren't active in that market? I wouldn't expect a Chinese payment app to work with my US bank account any more than I wo
by rchaud 3y ago
Is it a big deal if foreign competitors aren't active in that market? I wouldn't expect a Chinese payment app to work with my US bank account any more than I would expect Huawei network equipment to be used to transmit domestic traffic.
- manuelabeledo 3y agoThe CCP is notorious for boosting domestic ventures, and strangling any foreign attempt to compete. And while I would agree that keeping strategic industries under domestic control is a good thing, social media and mobile payments are arguably not part of those.
- rchaud 3y agoThere aren't any payment apps in the US from friendly countries either. I think payments are a strategic industry, or at least one where the public doesn't benefit from having a Visa or Paypal take a cut of everything. As publicly funded infrastructure like interbank transfers gain greater adoption, I can see European governments discouraging use of American processors (Visa, MC) unless absolutely necessary.