How Bank-to-Bank Payments Could Transform Ecommerce with Eric Shoykhet
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Link Money provides a pay-by-bank platform that allows US merchants to accept direct payments from a customer's bank account. This saves merchants 60-80% on credit card processing fees.
Interchange fees charged by card networks like Visa and Mastercard have been steadily rising, now costing merchants 2.5-3.5% per transaction. This significantly cuts into profit margins.
Direct bank transfers are ubiquitous in many countries, but fragmented banking in the US has slowed adoption. Still, access to bank data now allows solutions like Link Money…
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