One of the great mysteries of the 21st century is how a tiny number of US companies control most of the world’s payment processing, when it’s not a technically difficult problem.
You could implement an entire end-to-end payment processing system in a year with a team of a few dozen competent engineers. The only difficulty is getting banks and retailers to sign up to it, but when the big players charge so much and create so much trouble this doesn’t seem like it should be a tough sell. In most cases literally all you’d need to do is charge 2.4% instead of their 3%.
One of the great mysteries of the 21st century is how a tiny number of US companies control most of the world’s payment processing, when it’s not a technically difficult problem.
You could implement an entire end-to-end payment processing system in a year with a team of a few dozen competent engineers. The only difficulty is getting banks and retailers to sign up to it, but when the big players charge so much and create so much trouble this doesn’t seem like it should be a tough sell. In most cases literally all you’d need to do is charge 2.4% instead of their 3%.