Bitcoin - An Emerging Global Payment System - CoinAxisSubmitted by sdczen on Wed, 09/25/2013 - 19:59
Online transactions have become commonplace in most of our lives. Companies like Amazon have become ubiquitous, and with good reason. Their service is impeccable. The myriad of competitors, vie for a small slice of the online marketplace. This creates some amazing bargains for the consumer, not to mention, keeping the businesses sharp. With the online retailers, we have witnessed some amazing progression in the last decade. Although, there are areas of this online ecosystem, that have remained stagnant, if not abusive to their customers. What segment, you ask? The credit card companies.
Most of us have purchased things online, using standard payment systems. Companies like paypal, visa, mastercard, american express, have dominated the online payment systems, for a long time. As seen with Visa's record breaking, $17.9 Billion IPO in 2008, cashless transactions are becoming more prevalent. With all the money flowing into credit card companies, merchant account processors, and other electronic payment systems. It makes one wonder why the credit card companies can continue to abuse their customer base. There is very little competition in this space, and it shows.
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