(Total Views: 264)
Posted On: 01/08/2024 12:55:01 PM
Post# of 32999
Re: manfromjax #31365
Interesting video. Not sure X is proposing to have one account where every you go.
What they are proposing, I think, is to become a payment processor. It seems very much akin to Paypal.
Paypal was needed as not just a way to pay for goods/services from platforms like eBay cause you could use your credit card for that, but also a way to receive payments as Visa, Mastercard, etc typically are one way.
Keep in mind when you sign up for Market.Live (or many other platforms/sites), you can use your Google ID, Facebook ID or create your account. Advantage is it's fewer IDs/PWs to manage. Maybe the disadvantage is if your Google or Facebook account gets hacked, then hacker has easy access to everything else you connected unless you use multifactor authentication.
Definitely this is totally different than the a marketplace shopping basket that follows you where you go. The vendors that do this today that come to mind as examples are Amazon, Walmart, TikTok Shop and Market.Live.
Ultimately the problem with PayPal, Apple Pay, Amazon Pay, etc is they are often backed with credit cards. So what's the point of using another payment system on top of my credit card? It's the reason I see no value using Apple Pay, Amazon Pay, etc. I'd imagine some people do and can read all about Amazon Pay here:
https://pay.amazon.com/what-is-amazon-pay
Now if the payment system is backed by a bank account and it's cheaper to use AND the seller passes those savings onto the customer AND their is no risk of getting hacked and draining the back account, then maybe.
For me, I like the benefits, my other credit cards bring including doubling my warranty, cash back, etc.
What they are proposing, I think, is to become a payment processor. It seems very much akin to Paypal.
Paypal was needed as not just a way to pay for goods/services from platforms like eBay cause you could use your credit card for that, but also a way to receive payments as Visa, Mastercard, etc typically are one way.
Keep in mind when you sign up for Market.Live (or many other platforms/sites), you can use your Google ID, Facebook ID or create your account. Advantage is it's fewer IDs/PWs to manage. Maybe the disadvantage is if your Google or Facebook account gets hacked, then hacker has easy access to everything else you connected unless you use multifactor authentication.
Definitely this is totally different than the a marketplace shopping basket that follows you where you go. The vendors that do this today that come to mind as examples are Amazon, Walmart, TikTok Shop and Market.Live.
Ultimately the problem with PayPal, Apple Pay, Amazon Pay, etc is they are often backed with credit cards. So what's the point of using another payment system on top of my credit card? It's the reason I see no value using Apple Pay, Amazon Pay, etc. I'd imagine some people do and can read all about Amazon Pay here:
https://pay.amazon.com/what-is-amazon-pay
Now if the payment system is backed by a bank account and it's cheaper to use AND the seller passes those savings onto the customer AND their is no risk of getting hacked and draining the back account, then maybe.
For me, I like the benefits, my other credit cards bring including doubling my warranty, cash back, etc.
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