
T-Mobile pulls plug on Mobile Money effort that tried to take on check cashing - mathattack
http://recode.net/2016/04/08/t-mobile-ends-mobile-money-push/
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mcherm
The payments system in the US is ripe for disruption. There is huge rent-
seeking, the merchants are not happy (fees too high), nor are the consumers
(who loves their credit card company? Show of hands please!), and innovations
like better security or micropayments have been actively sought for YEARS and
are hardly any closer.

But I'm not sure WHAT is going to disrupt it. Because many have tried.
T-Mobile had an established relationship with a large number of customers, had
retail locations throughout the country, and has the in-house technical skills
to be capable of putting together a decent product. And they're not even doing
as well as someone like Square.

This one is still a wide-open opportunity for someone.

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mathattack
Yes. It's amazing that ~3% gets clipped from every credit card transaction. I
am surprised that nobody has come in for 2% or 1.5%. All the so-called
disruptors I've seen have just attacked the fees on top of the 3%.

