Here’s a question: why are cash transfers so expensive?
Visa charges 3% + $0.30 on every US transaction. That’s a lot to charge for shuffling around numbers in some databases. After all, everything in a credit card transaction is already digital — from the online payments gateway, to the credit card company’s systems, to your bank’s database, to the Fed account where your bank parks its reserves. It’s packets and bytes all the way down.