credit card rails
1 statements across 1 episodes · 0 bullish · 1 bearish · 1 people on the record · first statement Jun 7, 2022 by David Sacks · across every show →
Everything said about credit card rails, oldest first
Jun 7, 2022 negative
Sacks: Legacy credit card transaction fees choked PayPal micropayments
“The way that the old credit card rails network works is there's like a 25 cent charge per transaction, and so, like at PayPal, it just didn't make sense to facilitate micropayments because the cost of that transaction always exceeded the fee that we could get.”