I'm talking about this: https://en.wikipedia.org/wiki/Merchant_Customer_Exchange... | Hacker News

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jrockway on June 7, 2022 | parent | context | favorite | on: Show HN: The Bitcoin Note – Secure, Self-Custodial...

I'm talking about this: https://en.wikipedia.org/wiki/Merchant_Customer_Exchange

Obviously, this was the best of both worlds; a payment network with no fees to the merchants, and no cash to handle.

As for things like SaaS, the alternative to credit cards is a signed contract and ACH.

cortesoft on June 7, 2022 [–]

I think the fact that it never got off the ground shows that the ask is pretty impossible... it is really hard and expensive to securely run a payment system like that.

If you aren't charging merchants fees, how do you sustain it?

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