Comment by inigyou
11 hours ago
You have to negotiate directly with Visa to convince them why they should accept your system. How will you convince them?
11 hours ago
You have to negotiate directly with Visa to convince them why they should accept your system. How will you convince them?
We desperately need to break Visa's stranglehold on access to the consumer side of commerce. As long as everyone's only innovating and competing on the merchant side of things, we're not really going to get anywhere.
You're free to make your own card network. How will you convince banks to issue your cards and merchants to accept them?
You mean like the EU digital wallet
4 replies →
Are you prepared to protect customers by refunding them if they are victims of fraud when using your payment system? Visa and MasterCard are prepared to do that. That's how they could convince consumers to use their cards without worrying.
Clearly consumers do worry, since the ones found in this comment section are saying they refuse to use a card as it could be stolen.
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so what you're saying is we should be looking at competitors of Visa
MasterCard has the exact same issue.
Yep, the duopoly is pretty strong. There are national card networks (which sometimes make their own tap-to-pay apps!), but if you want universal acceptance you’ve got to deal with the big two.
You can sidestep this however by not dealing with cards. I’d look into various QR payment schemes.