[HN Gopher] Justice Department Sues to Block Visa's Proposed Acq...
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       Justice Department Sues to Block Visa's Proposed Acquisition of
       Plaid
        
       Author : nobody9999
       Score  : 14 points
       Date   : 2020-12-03 21:14 UTC (1 hours ago)
        
 (HTM) web link (www.justice.gov)
 (TXT) w3m dump (www.justice.gov)
        
       | haltingproblem wrote:
       | "Plaid has become the leading financial data aggregation company
       | in the United States. Plaid is planning to leverage its
       | connections to build a bank-linked payments network that would
       | compete with Visa. Plaid's money movement platform would allow
       | consumers to pay merchants directly from their bank accounts
       | using bank credentials rather than a debit card. Plaid's
       | established connections and technology uniquely positions it to
       | enter the payments market and disrupt Visa's monopoly"
       | 
       | Fascinating. I think the line that DOJ is drawing is tenuous. It
       | is not like removing Plaid from the marketplace would remove
       | dangers to Visa's debit card monopoly. Wouldn't a
       | Google/Apple/FB/Amazon be more of a platform threat.
       | Google/Paypal already do this when you can directly pay from bank
       | account to merchant. How does this help?
        
       | swiley wrote:
       | When can we just use some kind of CA style PKI and let banks sign
       | customers client side certs to sign payments?
       | 
       | Having banks build payment networks from scratch with all kinds
       | of weird fee structures, security problems, and other caveats
       | really really sucks.
        
         | toomuchtodo wrote:
         | https://corpgov.law.harvard.edu/2020/08/31/fednow-the-federa...
        
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       (page generated 2020-12-03 23:00 UTC)