tag:blogger.com,1999:blog-2761684730989137546.post1660601095896025795..comments2024-03-28T07:50:06.102-04:00Comments on Mike Norman Economics: Bloomberg — Why China’s Payment Apps Give U.S. Bankers Nightmaresmike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-2761684730989137546.post-55570314210550003972018-05-25T06:52:10.855-04:002018-05-25T06:52:10.855-04:00It’s a threat to credit/debit cards, but the big p...It’s a threat to credit/debit cards, but the big payments are still routed through banks. It would get interesting if the tech firms created banks. However, we selected our bank based on who gave us the best mortgage rate years ago. That is, lending is a bigger determinant of market share than fees.<br /><br />Also - people’s live for big tech ends as soon as they need support. The reason why Google worked so well is that you have to be pretty thick to not figure out how their search engine worked. If you are moving into banking, you need to provide support, and tech firms are worse than banks for that.Brian Romanchukhttps://www.blogger.com/profile/02699198289421951151noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-79352204778401552912018-05-25T01:22:04.451-04:002018-05-25T01:22:04.451-04:00Tom - Is it significant besides black market stuff...Tom - Is it significant besides black market stuff? I thought crypto is still and will probably remain marginal (and decrease probably to nothing), and the "normal" (WeChat, Paypal, Alipay etc) channels will be dominant internationally too (to the extent governments let them)Clint Ballingerhttps://www.blogger.com/profile/16484643778860969972noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-90159342879542502122018-05-24T21:14:33.295-04:002018-05-24T21:14:33.295-04:00Banks are the apex predator in the parasite econom...Banks are the apex predator in the parasite economy.Noah Wayhttps://www.blogger.com/profile/12012500819097539976noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-78457312926833156462018-05-24T20:45:45.639-04:002018-05-24T20:45:45.639-04:00Clint, I am thinking of crypto for international ...Clint, I am thinking of crypto for international payments.Tom Hickeyhttps://www.blogger.com/profile/08454222098667643650noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-51851109772799262722018-05-24T20:43:16.028-04:002018-05-24T20:43:16.028-04:00Tom - it is doom just with that. The crypto is nei...Tom - it is doom just with that. The crypto is neither here nor thereClint Ballingerhttps://www.blogger.com/profile/16484643778860969972noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-80749723752238297772018-05-24T20:20:04.722-04:002018-05-24T20:20:04.722-04:00https://www.bloomberg.com/graphics/2018-payment-sy...<a href="https://www.bloomberg.com/graphics/2018-payment-systems-china-usa/" rel="nofollow">https://www.bloomberg.com/graphics/2018-payment-systems-china-usa/</a>Tom Hickeyhttps://www.blogger.com/profile/08454222098667643650noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-91448831403628254632018-05-24T20:18:08.458-04:002018-05-24T20:18:08.458-04:00Link doesn't work.Link doesn't work.Andrew Andersonhttps://www.blogger.com/profile/14296407661618321637noreply@blogger.com