India built world’s largest real-time payment system. Now merchants fear being stuck with the bill
https://www.channelnewsasia.com/asia/india-built-worlds-largest-real-time-payment-system-now-merchants-fear-being-stuck-bill-6367101?cid=internal_sharetool_androidphone_08092026_cna
32 points · 5 comments · view on lemmy.world
5 Comments
PiraHxCx@lemmy.dbzer0.com · 40 pts · 16h
If it's based on Brazilian PIX tecnology, then this article was 100% paid by international banking that are pissed they aren't getting a share from every transaction anymore... Trump actually put tariffs on Brazil because he claimed PIX to be unfair competition and harmful to American economy lol
https://restofworld.org/2025/pix-brazil-us-investigation-digital-payments/
Midnight1938@reddthat.com · 8 pts · 16h
Isnt there a bill or agreement that lets America bitch about foreign nations building their own thing and not using its tech or goods
_wizard@lemmy.world · 4 pts · 15h
General rule for thee except for me.
CouncilOfFriends@lemmy.world · 1 pts · 11h
If only cheap and effective tech could also have disgustingly rich people bribing politicians to protect it. I remember cryptobros worrying about regulation, back before they got their bribery game sorted.
wampus@lemmy.ca · 2 pts · 6h
It isn't until the very end of the article that they even bother to discuss the obvious approach to the fee on transactions -- a flat rate fee. Like I know some of the flat rate fees in Canada are around $0.04 per transaction -- no matter the dollar value of the transaction. Which is a huge profit margin, really, for banks -- cause they'll charge people like $3 if you're not their customer at an ATM, even though your withdrawal only costs them $0.04-$0.10 in network fees.