Monday, March 26, 2012

[icbivxfd] Paypal competitors

Paypal currently charges 2.9% + $0.30 in fees per transaction.  These fees seem too high for what is essentially information transfer.  What are the barriers to entry in this industry which should drive fees down for what is essentially a commodity product?

Fixing this is actually very important, as I think the internet could be much better if we had an infrastructure of lots of tiny micropayments.  Spam could go down a lot.

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