Re:Square Raises $150M at a $6B Valuation
by masklinn on Monday October 06, 2014 @05:13AM
(#8414927)
Yes I really meant "cards" rather than specifically "credit cards". An AFAIK France doesn't really make a difference between debit and credit cards, that's a concern between clients and their banks.
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Its also a concern btwn the end user and the card. Credit cards, bc of the inherent line of credit and their ability to accommodate you into a large amount of personal debt, free the end user up to become a consumer beyond their means. Debit cards don't. I think a lot of what you're talking about, in terms of payment issues in the US, stem from this.
We're spending money that hasn't been earned yet, and there is a lot of space to disrupt that as the industry is held by legacy companies who give out credit.
Re:Square Raises $150M at a $6B Valuation
by masklinn on Monday October 06, 2014 @12:36PM
(#8416770)
> Its also a concern btwn the end user and the card. Credit cards, bc of the inherent line of credit and their ability to accommodate you into a large amount of personal debt, free the end user up to become a consumer beyond their means. Debit cards don't.
To an extent, overdraft is a thing on debit cards.
> We're spending money that hasn't been earned yet, and there is a lot of space to disrupt that as the industry is held by legacy companies who give out credit.
But Square isn't in that business, they're in the business of ferrying money between the consumer and the provider of goods and services.