Noone still properly disrupted credit cards. Visa is still incumbent.
Use to be only AMEX. Now has Visa, master card, discovery, disney, etc. Smaller ones are dying but still around⌠canât VISA kill them? All these payment systems and communication systems make the world extremely complicated and need high-paying SWEs around to interface them, financial guys and lawyers are needed to settle cases. Is it intentional? I think I will form a business using crypto and blockchain to kill them all.
manch - invest in my business. potential market cap >>> $10T.
Fry: âDo you take Visa?â Clerk: âVisa hasnât existed for five hundred years.â Fry: âAmerican Express?â Clerk: âSix hundred years.â Fry: âDiscover Card?â Clerk: âHmmâŚsorry, we donât take Discover.â
Blockchain is bullshit. Avoid the hype.
Credit cards will be disrupted. China doesnât use a lot of credit cards. The leapfrogged directly to mobile payment. In the west credit cards are very entrenched.
Are credit cards as entrenched as QWERTY keyboard? Frankly, I donât need credit card. Every time I use Apple Pay, I feel dumb to have to choose a credit card. From the way things are going, China and ASEAN would go credit-card-less and cashless way before USA.
Donât think of it as credit cards. Think of it as an entrenched payment network.
Reasons for using them are two folds:
a. Credit
b. Shield merchants from your banks, just in case, there are frauds or potential attacks on your bank accounts.
Forget about a. credit, bad habit. If can solve b. without credit card companies, then good to go. Hmm⌠another business idea for tomato.
For similar reasons like b., is why I am using PayPal, and AMZN to buy stuffs.
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