USA Stocks discussion - Part 3

[limster]

Stablecoins aside, there are also mobile payments like paynow which bypass Visa/MC entirely. In SG, more and more merchants are using paynow, especially the smaller ones, its only a matter of time before consumer habit changes and we become like China where mobile payments are the norms. When doing my ICT, even the canteen uses paynow.

Scoot you get charged 2.26% credit card processing fee, I wonder if that is sufficient to make people switch to paynow... if no price difference I don't see people switching.

 

[wongdawson]

Coinbase, Circle and Robinhood crypto related stock has been soaring

 

[mooseolly]

Stablecoins aside, there are also mobile payments like paynow which bypass Visa/MC entirely. In SG, more and more merchants are using paynow, especially the smaller ones, its only a matter of time before consumer habit changes and we become like China where mobile payments are the norms. When doing my ICT, even the canteen uses paynow.

But paynow is direct debit your bank account leh. People use visa or master mainly for as credit card function. Can clock miles somemore or earn cashback.

 

[elvintay07]

The coin won’t take over until maybe 10-20 years later. Some ppl cannot even use mobile phone. Don’t talk about complexity like those coin wallets. Talking cock. Also ppl love to earns miles and get rebates. Those things just don’t work

 

[sumako]

SHAK

Trade Strategy: base trading.
Risk: mad dog tariffs 90 days pause expiry date 8-jul.
Playable time flame: 7 trading days.
Suitability: swing, day.

Pivot: 130
Support: 124
Stop loss: 122

where is the ideal entry point?
who's hand is itchy?

 

[Rellit]

But paynow is direct debit your bank account leh. People use visa or master mainly for as credit card function. Can clock miles somemore or earn cashback.

Those "rewards/cashback" that we get are basically extra cost charged, passed back to the consumers as incentives since the issuing bank takes a major cut of the MDR. We are paying for those rewards that we can do without.

There are still some major barriers to mainstream adoption that need to be iron out, like convenience (tap to pay vs scan QR code, cross border transactions etc). Since the only beneficiary of these new payment systems are the consumers and merchants, banks have no incentives to push for it and may in fact pushback against it. The change need to be initiated from the merchants, especially the major ones and currently, the acquiring banks have lower MDR/incentives for major merchants so I expect these banks to do all they can to hold on to the pie.

Whats happening to mobile payments in the next few years can give us an insight on the future adoption of stablecoins, since imo stablecoins have a much bigger barrier to overcome as it requires mainstream adoption of crypto wallets + crypto enabled payment interface. You also have the regulatory/money laundering aspect to take care of.

 

[wongdawson]

The coin won’t take over until maybe 10-20 years later. Some ppl cannot even use mobile phone. Don’t talk about complexity like those coin wallets. Talking cock. Also ppl love to earns miles and get rebates. Those things just don’t work

SG is slow to tech adoption china already using hp and even palm scan for payment

 

[mooseolly]

Those "rewards/cashback" that we get are basically extra cost charged, passed back to the consumers as incentives since the issuing bank takes a major cut of the MDR. We are paying for those rewards that we can do without.

There are still some major barriers to mainstream adoption that need to be iron out, like convenience (tap to pay vs scan QR code, cross border transactions etc). Since the only beneficiary of these new payment systems are the consumers and merchants, banks have no incentives to push for it and may in fact pushback against it. The change need to be initiated from the merchants, especially the major ones and currently, the acquiring banks have lower MDR/incentives for major merchants so I expect these banks to do all they can to hold on to the pie.

Whats happening to mobile payments in the next few years can give us an insight on the future adoption of stablecoins, since imo stablecoins have a much bigger barrier to overcome as it requires mainstream adoption of crypto wallets + crypto enabled payment interface. You also have the regulatory/money laundering aspect to take care of.

Firstly Visa and Master are transaction service provider. They need to generate revenue to maintain their vast global infrastructure. That convenience of swiping or tapping your card anywhere in the world, with instant authorization and robust fraud protection, comes at a cost. It's an essential service that facilitates commerce, and that cost is primarily borne by the merchants. Nothing is free in this world. It is impractical to assume that others don't need the convenience like you do and so the merchant has to charge a lower fee. Without giving customers the convenience of payment, the merchant would likely suffer from poorer sales as people can turn away from lack of payment options.

Many people still use visa/master because they can enjoy the convenience and also clock miles or cashback at the same time. You cannot use paynow when overseas and you need to login your bank account, something which many might be adverse to especially when your phone unknowingly connected to a free public wifi.

In order for a currency to receive massive adoption, firstly the currency has to be stable. Stablecoins although it has the word stable in it is not really stable. There is bound to be a conversion rate unless your employer pays you in stablecoins.

 

[elvintay07]

Firstly Visa and Master are transaction service provider. They need to generate revenue to maintain their vast global infrastructure. That convenience of swiping or tapping your card anywhere in the world, with instant authorization and robust fraud protection, comes at a cost. It's an essential service that facilitates commerce, and that cost is primarily borne by the merchants. Nothing is free in this world. It is impractical to assume that others don't need the convenience like you do and so the merchant has to charge a lower fee. Without giving customers the convenience of payment, the merchant would likely suffer from poorer sales.

In order for a currency to receive massive adoption, firstly the currency has to be stable. Stablecoins although it has the word stable in it is not really stable. There is bound to be a conversion rate unless your employer pays you in stablecoins.

I said before. Those high net worth probably don’t care about saving that 5-10 cents. They just need the convenience.

 

[mooseolly]

I said before. Those high net worth probably don’t care about saving that 5-10 cents. They just need the convenience.

To add on, let's say Amazon implements this stablecoin thing, their payment network still has to be maintained and upgraded from time to time, how do you think this cost is being recovered? Money is being recovered either by Merchants who has their own payment network or the card payment company who maintain the network. It is the same.

 

[mooseolly]

SG is slow to tech adoption china already using hp and even palm scan for payment

China people can go overseas use palm to make payment?

 

[elvintay07]

China people can go overseas use palm to make payment?

China is power. If wallet lost, no problem. If phone lost then hong gan.

 

[mooseolly]

China is power. If wallet lost, no problem. If phone lost then hong gan.

Nowadays people bind their credit card with applepay or google pay so no need to bring physical cards. Many people also use apple watch to tap and make payment even using it to tap on buses or MRT.

 

[wongdawson]

China people can go overseas use palm to make payment?

China is big enough for their citizens for their transaction just look at our new stupid erp OBU system just install big and block visibility and pap dogs say crypto is risky HK already pass stablecoin bill legislation

 

[mooseolly]

China is big enough for their citizens for their transaction just look at our new stupid erp OBU system just install big and block visibility and pap dogs say crypto is risky HK already pass stablecoin bill legislation

I mean China payment system is xenophobic wan. Can only use in their own country. It is very convenient for their own China people, not so much for foreigners.

 

[wongdawson]

I mean China payment system is xenophobic wan. Can only use in their own country. It is very convenient for their own China people.

xenophobic is very convenient term for pap to label us local citizen now i feel a foreigner in my own country look to the left look to the right all is FT

 

[d9lives]

xenophobic is very convenient term for pap to label us local citizen now i feel a foreigner in my own country look to the left look to the right all is FT

I've to double check that I am not in edmw.
Brah, gitgud, bring your angst and bitterness back to edmw.

 

[yslvlys]

I added KNSL, ZETA and CART last 2 nights.

Added GDDY and more ZETA. I am done buying for the night lol

Bought more ZETA

Bought more ZETA

ZETA chiong 12+%~! Chiong 2+% more after market hours

 

[yslvlys]

Also bought more PD and PCTY~

 

[Jirachi]

Claiming Visa and Mastercard getting killed due to stablecoins is a bit far-fetched. Stablecoins right now is inherently USD only. People still needs to transact in their own native currency.

There could be stablecoins for more currencies in the future, but that will still be subjected to central bank regulations. Issue stablecoins and not removing actual fiat from circulation increases the money supply aka printing money.

Sure there are mobile wallets are stuff but people also rather pay additional fees to collect credit card rewards? So long as this stays, the 2 major global payment network provider is not going anywhere.