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So what is the solution to this duopoly except for crypto? I envision a third payment processor that isn't Visa or Mastercard and not even crypto. It isn't St

So what is the solution to this duopoly except for crypto? I envision a third payment processor that isn't Visa or Mastercard and not even crypto. It isn't Stripe or PayPal either, something completely different. Thoughts?

qznc 1y ago
I hope Wero will spread rapidly in the EU. It is SEPA underneath.
- sunaookami 1y ago
  They fumbled the launch badly. Every bank has to integrate it manually and they won't launch integration for merchants until next year.
sdeframond 1y ago
Hmm, Carte Bleue ? Edit: oh, that's Visa Europe now...
drdrey 1y ago
why not crypto? stablecoins could be a credible answer to this problem
- altruios 1y ago
  Not with the new acts passed this last week. Only established players are in that space now (Also - this is going to get way worse now with fees devaluing the dollar that are now invisible to the average consumer).
  - gubicle 1y ago
    Which acts are you referring to? Care to elaborate?
    - scyclow 1y ago
      Look at the GENIUS Act https://www.congress.gov/bill/119th-congress/senate-bill/394/text https://www.congress.gov/bill/119th-congress/senate-bill/394...
  - drdrey 1y ago
    are you arguing against regulation? with the new act, there is a clear definition of stablecoins and disclosure requirements that are better for consumers than the current "trust me bro" stablecoins like USDT
hugs 1y ago
Unfortunately answering question with: "yes, crypto". (Sorry?!) the Bitcoin Lightning Network could be a very good backend base. You can even try it today (Using Cash app's built-in Lightning support to buy a meal at Steak 'n Shake.)
pogue 1y ago
Bring back Lina Khan and her monopoly crushing super powers. We need another Teddy Roosevelt type character to be our trust-busting savior or these companies will continue running roughshod over us until they've privatized the air we breath and are charging us a subscription fee for it.
TulliusCicero 1y ago
Maybe something like India's UPI? https://en.wikipedia.org/wiki/Unified_Payments_Interface https://en.wikipedia.org/wiki/Unified_Payments_Interface
bubblethink 1y ago
The solution is decoupling and disaggregation. The core payment infra or transaction processing is a utility and there can be more regulation or state intervention there. Credit or lending is an add-on product which shouldn't be tied to payment infra.

qznc 1y ago

I hope Wero will spread rapidly in the EU. It is SEPA underneath.

sunaookami 1y ago
They fumbled the launch badly. Every bank has to integrate it manually and they won't launch integration for merchants until next year.

sdeframond 1y ago

Hmm, Carte Bleue ? Edit: oh, that's Visa Europe now...

drdrey 1y ago

why not crypto? stablecoins could be a credible answer to this problem

altruios 1y ago
Not with the new acts passed this last week. Only established players are in that space now (Also - this is going to get way worse now with fees devaluing the dollar that are now invisible to the average consumer).
- gubicle 1y ago
  Which acts are you referring to? Care to elaborate?
  - scyclow 1y ago
    Look at the GENIUS Act https://www.congress.gov/bill/119th-congress/senate-bill/394/text https://www.congress.gov/bill/119th-congress/senate-bill/394...
- drdrey 1y ago
  are you arguing against regulation? with the new act, there is a clear definition of stablecoins and disclosure requirements that are better for consumers than the current "trust me bro" stablecoins like USDT

hugs 1y ago

Unfortunately answering question with: "yes, crypto". (Sorry?!) the Bitcoin Lightning Network could be a very good backend base. You can even try it today (Using Cash app's built-in Lightning support to buy a meal at Steak 'n Shake.)

pogue 1y ago

Bring back Lina Khan and her monopoly crushing super powers. We need another Teddy Roosevelt type character to be our trust-busting savior or these companies will continue running roughshod over us until they've privatized the air we breath and are charging us a subscription fee for it.

TulliusCicero 1y ago

Maybe something like India's UPI? https://en.wikipedia.org/wiki/Unified_Payments_Interface https://en.wikipedia.org/wiki/Unified_Payments_Interface

bubblethink 1y ago

The solution is decoupling and disaggregation. The core payment infra or transaction processing is a utility and there can be more regulation or state intervention there. Credit or lending is an add-on product which shouldn't be tied to payment infra.