from making them obsolete…???

clip_image002…If true … wonder how American “bank$ter$” are going to prevent Chinese from making them obsolete…???

How China’s mobile ecosystems are making banks obsolete


Giant Chinese tech companies have bypassed credit cards and banks to create their own low-cost digital payment systems.The US credit card system siphons off excessive amounts of money from merchants, who must raise their prices to cover this charge. In a typical $100 credit card purchase, only $97.25 goes to the seller. The rest goes to banks and processors. But who can compete with Visa and MasterCard?It seems China’s new mobile payment ecosystems can. According to a May 2018 article in Bloomberg …
Read full article at website »

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: