Re:Facebook reveals its cryptocurrency Libra
by sytelus on Tuesday June 18, 2019 @08:33PM
(#20219860)
Cards are yesterday things. Many countries quickly moving on to phone based payments. Its much secure (requires touch or face ID) than doing fake signatures. I've no idea why visa/mastercard can't move to this. The often given reason for massive 5% cut is potential voided transactions, merchant setup, cashback expected by customers and ofcourse profit. Much of these can be eliminated by phone based transactions. This space is ripe for disruption.
[ Parent
| on HN ]
>Many countries quickly moving on to phone based payments. Its much secure (requires touch or face ID) than doing fake signatures.
EMV is a thing, you know. And cards don't run out of battery or get smashed like phones.