Topic: What Impact do you think Blockchain is having on Paypal and Western Union? (Read 394 times)
August 21, 2017, 08:18:14 PM
Is it possible by any chance that paypal could integrate cryptos as a payment option? Im not sure how well they align with their business model but I think it would be silly for them not to consider it.
August 21, 2017, 07:02:59 PM
Hi,
Curious to know what you guys think of the Alt-Coin explosion and how it has affected or will continue to affect mainstream remittance companies like Paypal and Western Union?
I know several people who would previously use the above mentioned to send money to their family and friends overseas but now instead they have a Plethora of options for sending money without the exuberant costs of those services and just send from their phone from wallet to wallet for a very small cost.
Considering that sending money via banks or places like WU and Paypal is really no different, they are just sending random 0's and 1's for very little cost and charging up to $20 to use these electronic international transfer methods, I cannot see them surviving, especially Western Union, maybe less so Paypal because they are owned by Ebay and provide buyer protection but still they are going to lose if they have already not lost a fair chunk of their market to the Blockchain.
Do you think they either will survive and thrive or ultimately fade away?
Curious to know what you guys think of the Alt-Coin explosion and how it has affected or will continue to affect mainstream remittance companies like Paypal and Western Union?
I know several people who would previously use the above mentioned to send money to their family and friends overseas but now instead they have a Plethora of options for sending money without the exuberant costs of those services and just send from their phone from wallet to wallet for a very small cost.
Considering that sending money via banks or places like WU and Paypal is really no different, they are just sending random 0's and 1's for very little cost and charging up to $20 to use these electronic international transfer methods, I cannot see them surviving, especially Western Union, maybe less so Paypal because they are owned by Ebay and provide buyer protection but still they are going to lose if they have already not lost a fair chunk of their market to the Blockchain.
Do you think they either will survive and thrive or ultimately fade away?
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