Enterprise Tokens Will Replace Visa And Mastercard
For those of you unaware there are 3 Enterprise Tokens launching later this year in Q4 which is only 3 months away. COTI are the ones who are releasing and managing these tokens on their behalf and why I know it is happening. This has been under development for the last 2 years already and is a big thing really.
The first thing that springs to mind is who would want their own token and what benefit it might hold for those that go down this route. We are not talking about Mickey Mouse companies and all that has been revealed thus far is they are multinationals. Financially it has to make sense and I kind of see where this is all leading.
With online retail only set to grow retailers need to combat the costs incurred by the likes of Visa and Mastercard. We may not see it, but these companies are leeches that earn by our actions and actually make everything we purchase more expensive. Just in the United States alone ecommerce is expected to pass $1 trillion this year. That is a truck load of money going into someone's pocket and it isn't yours or mine or the retailers as they are burdened with the service fees.
These fees only increased in April as both Visa and Mastercard increased their service fees. Guestimates put their price hike which will add an extra $1.2 billion per annum to their already bountiful earnings. We the consumer are paying in an around about way as those costs have to be covered by someone and that someone is us.
Turnkey solution, regulation ready and what COTI have been planning from day 1 taking over the online payments away from the likes of Visa and Mastercard. This is where I see the Enterprise Token coming into play as this bypasses both Visa and Mastercard saving the retailer and the consumer from extra costs. I can see this being heavily promoted with special discounts to help with the adjusted switchover and should be adopted very quickly if not instantly.
COTI already provide the payment services option for retailers via their point of sale (POS). They are in a position to provide the service that bypasses the credit card leeches like Visa and Mastercard and see this happening prior to Christmas with these Enterprise Tokens. This is a biggie for all crypto lovers and believers as this now gets tokens into hands that would normally be swiping a credit card or punching the digits online.
Your guess is as good as mine on who would be in the running for the first batch of 3 token launches come October but one can only guess as some do kind of stand out. This does make financial sense for the multinationals and for the consumers and this couldn't happen at a better time. So much is falling into place brick by brick and this is just another one of those bricks.
This besides a few other things was one of the selling points why I invested in COTI as what they have being developed is far bigger and is all service related benefitting crypto long term. Their vision has always been to offer the online solution for retail payments and this is where they are heading.
Posted Using LeoFinance Beta
