4 ms·
I think you really need to make a card that isn’t a Visa or MasterCard or a QR payments system that’s wired to common banks. I don’t think anyone has suggested
by Shank 1y ago
I think you really need to make a card that isn’t a Visa or MasterCard or a QR payments system that’s wired to common banks. I don’t think anyone has suggested creating a payment processor without this, because the issue is with Visa/MasterCard, not with the middleman.
I think Valve could actually find a bank to work with to run a QR payments scheme for the gaming industry (SteamPay perhaps?) that’s “topped up” via ACH. Just ignore the whole card part, since it’s online you don’t even need it. Require biometrics and you can make the fraud burden easier.
Of course this would cost a lot of money, but it’s at least in the realm of possible versus a PayFac etc.
- tmcz26 1y agoAbout a month ago this topic came up and I commented this about “just” creating a new Visa: https://news.ycombinator.com/item?id=44611807 https://news.ycombinator.com/item?id=44611807
- immibis 1y agoThat's true, but how did Visa and Mastercard come about in the first place, anyway? And could that ever be replicated again? Did they start with a small scope before expanding to be globally accepted? There are services where you enter your username and password for your bank, and they log into your online banking for you, and make a giro transfer outwards, and they can confirm the transfer was sent because they sent it. Bank security departments don't like this, but they can't always do anything about it.
- LoganDark 1y ago> wired to common banks I highly doubt banks would choose some completely new payment processor (or card, etc.) over Visa or Mastercard: Visa and Mastercard can just put in their terms of service that you're not allowed to use that payment processor and that'll kill them real quick. Highly unlikely any existing bank would give up Visa or Mastercard just for that.