Invoicing does not scale? I bet if you write down a list of world's largest, most scaled out services that charge monthly, most of them would be using invoicing

Invoicing does not scale? I bet if you write down a list of world's largest, most scaled out services that charge monthly, most of them would be using invoicing as the main mechanism. In India, don't you think invoicing scales for BSNL, Airtel, BSES, etc.? And there is a huge insurance component inc credit cards. Ever see the difference in accepting rates of CC and a debit card? Ever wondered why that is? Every damn transaction you do requires heavy handed underwriting. The underwriting requires insurance. If the underwriter pays later than the bank needs it, the bank needs insurance backbone to fall on. On individual fraud basis, banks themselves come under debt for extensive periods of times while the underwriter sits and decides. The rectification with the customer itself takes months during which the bank is in debt. The reason you're paying Visa or MasterCard any money is in hope that they underwrite in case there is a fraud or customer can't pay. How else do you define insurance?