[HN Gopher] Justice Department Sues to Block Visa's Proposed Acq... ___________________________________________________________________ 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... ___________________________________________________________________ (page generated 2020-12-03 23:00 UTC)