@paulg read this: https://en.wikipedia.org/wiki/Faster_Payments_Service … Banks use regulatory capture to keep ACH crippled. in the UK the gov't mandated better.
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@paulg@bgurley I’m sure YC alumni@GoCardless who operate in this space could give you a better answer re adoption challenges :) -
@imranghory@paulg@bgurley 3 problems: 1. limited access, 2. geographic fragmentation, 3. legacy systems.@GoCardless we're solving all 3!
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@paulg the consumer has the power of choice, and they choose credit cards for rewards, chargeback protection & ease of useThanks. Twitter will use this to make your timeline better. UndoUndo
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@paulg Many families lack a month's expenses in the bank so the "credit" part of the card matters. Also debit cards.pic.twitter.com/OD4sLaSUAc
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@paulg someone steals my credit card info, no big deal; someone steals my bank account info, potential big deal - 1 more reply
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@Chris_Deutsch@paulg would love to figure out a way to pay my rent on cc for this reason
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Thanks. Twitter will use this to make your timeline better. UndoUndo
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Thanks. Twitter will use this to make your timeline better. UndoUndo
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@paulg it's because ACH in the US takes days to set up and has a ton of risk! Terrible system - some folks like@synapsepay are on the case -
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@tommyrva@paulg@synapsepay for merchants, but not customers. Need points with@synapsepay &@dwolla to make this go mainstream -
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@tommyrva@paulg@synapsepay or@dwolla need to be inside ApplePay -
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@sankaet y'all might be closer to being able to get an Apple Pay deal than you think if you could provide chargeback protection :) -
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@tommyrva then again RTGS has network effect contrants. Maybe changing core banking is the way to go ;) - 1 more reply
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