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It's pretty obvious what they're doing: pressuring the credit card companies to lower interchange fees. Or at the very least, not raise them further.
Completion is good.
Why? A typical credit card transactions results in a 2-3% fee to the merchant. The typical lightning transaction charges fees of around 0.1%, paid by the sender.
I'd say the fixed costs of maintaining a lightning wallet may favor tradfi, but I'm not even so sure about that. I'm sure all the point-of-sale terminals and whatever software they use for their payment processing also charge fees.
Have you been to one? I have not seen any in California
I think most of them have been closed out here in CA
Yep. Been to many of them but not in Cali
I'm more skeptical of the pitch man... and it being 50%. I can see them saving money and it being faster in some cases. Call it my BS detector.
I think lightning is better than the fiat payment rails. Especially if you consider final settlement.
I'd be curious to see whether the customers themselves were satisfied. I imagine there being some hiccups when trying to pay with lightning, that probably don't show up in terms of fee or sales metrics
Yeah, I am skeptical of the pitch here too but its is great to see.