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Very interesting how they structured the fees. Instead of how PayPal, Square, Stripe and just about everybody else in the World does it, where it is free to sen
by wilfra 13y ago
Very interesting how they structured the fees. Instead of how PayPal, Square, Stripe and just about everybody else in the World does it, where it is free to send money but merchants must pay a fee to receive it - they are making it always free for merchants and free for users who pay from a bank account or G Wallet balance - and users who want to pay by debit or CC have to pay a fee.
I'm not sure how the market will react to that but it's clearly deliberate and could turn into a great way to drive adoption, as merchants will clearly prefer to use G Wallet with no fees and will push their users toward that whenever possible.
(I realize this is being marketed as P2P but if they intend to take down PayPal et al, it will surely evolve into a way to pay merchants for things).
- encoderer 13y agoSeems almost like their wish would be free for everybody, but of course Google has to pay to process your credit card so they can't very well give you that for free. And if they charged you anything less than 1% for CC transactions, even if it cost them less than that, they'd have people gaming it for the purpose of accumulating CC rewards like cashback and airline miles.