Mobile Payments: The Trillion Dollar Industry That's Never - AgileVC
Agile VC
JUNE 12, 2012
ACH is an outgrowth of the Federal Reserve’s Fedwire system and was never intended for merchant payments (it was designed to replace paper drafts for certain interbank transfers like direct deposit). Also some of the mobile banking players are considering to build a parallel network that would disintermediate the card associations.
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