Thread

1. havaloc · 1790442549 · focus · HN ↗

   I get why the banks are not happy, but I can tell them that I am not going to use Chase Wallet, Bank of America Wallet, Citi Wallet...just pay the fee and be thankful for the reduced payment friction, which they invariably make money from. PS: Nobody is going to use Paze (yet another half baked wallet), other than to collect the free $10 to sign up for it.

   Somewhat related, even Walmart relented and now supports Apple Pay/Contactless. Every big merchant has now relented (Kroger, Home Depot, Walmart).

   1. wmf · 1790443204 · focus · HN ↗

      A possible compromise is to allow Apple Pay to be a monopoly as long as it doesn't charge any fees.

      1. braiamp · 1790447972 · focus · HN ↗

         How about I do you one better compromise: create a payment network that don't rely on private institutions rent seeking behavior, like Pix in Brazil.

         1. dd8601fn · 1790464419 · focus · HN ↗

            How about Chase continues to eat shit on that 0.15% extra profit they really want to capture, but aren’t owed… and everyone else goes on with their day?

            1. braiamp · 1790500186 · focus · HN ↗

               I don't know how your solution makes any sense considering that I'm denying everyone rent seeking behavior

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