> WRT fraud, merchants certainly want transactions to be irreversible, but since we're all terrible at security, being able to reverse transactions is quite useful for dealing with criminals who would try and steal your money.

It's more a point about how the horrible service from the current transfer processors is opening a niche for different kinds of transfers to prosper. Somehow, that niche hasn't attracted good quality processors (I blame it on widespread corruption), so it's left open for unofficial money.

That's an opportunity, yes. But I am nor sure it can be fully taken before official processors close it.