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> It's the ultimate two sided marketplace … The problem is: Getting merchants and customers on board. OK, but then there's the third side: banks. > find a way
by Terretta 2y ago
> It's the ultimate two sided marketplace … The problem is: Getting merchants and customers on board.
OK, but then there's the third side: banks.
> find a way to debit peoples bank account with 0 fees and 0 default risk and <5s latency
Banks.
- langcss 2y agoBanks don't do this well. It isn't always low transaction time, it isn't always 0 default risk, it is usually 0 fees but not internationally and the UX is not great.
- Terretta 2y ago> Banks don't do this well. Exactly! (And's that speaking as former CTO of one of the largest banks in the world.) I was responding to: >> "ultimate two sided marketplace" Banks' role in anyone's attempt to solve this is why one can't forget there are three sides, not two, to getting this right. Get the right intro and a bank might even want to foot your bootstrapping bill given how challenging things can be internally.