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  • as you move forward.

  • You know, we see things like Paypal coming into this business and try and do a net payments when you see them, Are they potentially a competitor.

  • Do you see that as good news for what you guys are doing and then just finally want to wrap up and find out what, what's your biggest challenge right now.

  • Uh, so, uh, so Paypal is sort of like all of those.

  • So in general, I'm very happy with what paypal is doing because what paypal does, it creates, it creates access to new types of assets.

  • It creates the exposure and people start using this.

  • So that's great for everyone.

  • Again, going back to my like anti maxi arguments, right?

  • If I were to say otherwise, I would be completely inconsistent.

  • You just write off everything I just said if I just said that, you know, you just literally said Tyler that this makes everything else better and it absolutely does.

  • So, so totally, totally positive on Paypal and what they're doing and their approach and hopefully we'll even go beyond that.

  • Um, it's a, not necessarily really a competitor because they're just rolling those assets into a traditional papal product.

  • The merchant doesn't get any benefit from it.

  • So with us, we charge, you know, basis points, you know, potentially for various transactions or something much less than what interchanges.

  • Whereas what Paypal does is it charges you the same rate for debit or visa or crypto, it's blended rate.

  • So the merchant literally get zero benefit out of someone paying with crypto because they're not getting the fraud guarantees.

  • They're not treating it any separately.

  • So that's why it's like, cool, it's great, it's interesting, but it's really not change much and then I think if people try to change it now, their business model starts to change and it's a big, very valuable public company, you're going to try to break apart your business model and that payments different charges or different policies for different assets.

  • Seems to me to be very untenable.

  • And what Alexa is doing is we want every single asset.

  • So a universe where Paypal is trying to accept, You know, 20,000 different types of digital assets, I don't know because they, they are that wallet right there, they're looking to really have that consumer experience.

  • So for me, you know, an ideal case would be, you know, we start working with them and that Paypal could just use us for those digital asset acceptance peace.

  • And so they remain Paypal customers, they have a Paypal wallet.

  • Paypal can sell them credit products and use, you know, how they already monetize their business and then they just use us as the payment rail for all the digital assets, which merchants do get the benefits out of using those assets so that I think I'm hoping becomes, you know, clear across other parties.

  • Um, and the way that you kind of perceive this.

  • So for us, you know, we look at it very, very collaborative, we've done the, you know, the dirty work that no one else really wants to do there when you use Apple Pay or Paypal or otherwise, when you scan something behind the scenes, someone cares whatever rail is using or however those assets or the funds are going to transmit, no one really cares.

  • Um, so that's, that's what we do and that's what we work really, really hard to do absolutely the best.

  • Um, it's like the innovators, it's like the innovator's dilemma where, you know, the innovator can never, you know, be the established company.

  • Paypal used to be the innovator, but now they have owned their own dilemma, right?

  • Because they have a business model that they need someone like you to innovate, right?

  • Yeah.

  • Well, I don't even know if you can write, they've just built a niche and built the barriers, which is great.

  • And now it's just like, what does that look like because certain things you can't innovate out of.

  • So it's just a matter of like how do you still monetize?

  • Right.

  • So it's like a lot of these technologies, if you are uh horse and buggy maker and cars come out, it's like, well, I can't really see the need to pivot into something radically different, which is essentially impossible or figure out ways to still monetize whatever you do then have.

  • So I see a lot of that happening and then even the interesting thing too is how it can be very collaborative is that so flex even built, you know, the majority of the infrastructure in El Salvador recently when you have all these Bitcoin payments.

  • So like we've done this now for an entire country where the largest banks in Salvador using Alexa for Bitcoin, deposits online payments through their online gateway, paying Bitcoin or dollars to friends, paying their credit card bills.

  • All of that is done now to the Alexa infrastructure that we've built up for them.

  • That is now so simple to a user and everyone else, it just works behind the scenes and it's the boring stuff and we'll just make that work and continue to make that work.

  • And so that's where, you know, we could connect to a Paypal or others to use that very easily.

  • So I really think that it will be much more collaborative in the future because we're not a consumer company will really connect all the stuff that's already out there.

as you move forward.

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B1 paypal alexa collaborative business model crypto built

PAYPAL & CRYPTO ? Is There Any Benefit From PayPal Getting Into Crypto? ?

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    林宜悉 posted on 2021/11/17
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