3 ms·

Much cheaper than using a credit card processor.

• rswail 1y ago
  Not cheaper than using one of the instant net settlement services like FedNow (UPI in India, PromptPay in Thailand, PayID in Australia)
  • jdminhbg 1y ago
    Do you see what the issue might be with the parenthetical there?
    • rswail 1y ago
      Of course, but are you aware that there are already cross-country agreements that allow these systems to work, for example, UPI is accepted in Singapore? https://support.google.com/pay/india/answer/13949170?hl=en https://support.google.com/pay/india/answer/13949170?hl=en There are also alternatives like WePay, AliPay, LINE Pay and other wallet providers that are generally accepted across Asia. The use of the Visa and MC networks is primarily a US/EU/APAC environment, where the alliance of bank issuers has controlled that market for decades. This is essentially a "legacy" network, with a lot of issues related to the interchange and other fees, as well as any number of 3rd parties, hidden from the consumer, that "clip the ticket" of each transaction.
    • deleted 1y ago
      [deleted]