- Apr 21, 2008
The whole point is that it would cost everyone less. People would only choose the card if it cost less.Banks will charge because they will have work and infrastructure to pay for to integrate with it....
I get the concept of the money not going overseas, and its laudable, but for the loss of usability my honest response is a straight up "No Thanks".
Its not that its laudable its that it would open the local economy quite a bit... and at least perhaps cause VISA & Mastercard to be more competitive.
Its was actually attempted before and abandoned due to the situation at the time. I'd actually like to read up on that and why they didn't do it.
Right now the feeling is that its got a better chance of working and then become a standard for Africa.
Its insane to think that every time we spend money some of it goes out the country.