The cognitive load is expensive. I had never heard of venmo until this thread although I've heard of the 20 or so competitors.
A confuseopoly depends on an uninformed public. I'm sure there's some special reason for each of the 20 or so payment services, although I don't have the time and motivation to research. Confuseopolies are designed to screw the end user. So I'm inherently scared away from "payment services". Especially when simple cash is to fast, easy, incredibly cheap, and convenient.
Where we're at right now with payment services is roughly 80s BBS or 90s walled garden legacy services. "Wow, if the whole world were on this BBS or on compuserv then the whole world could talk together... but no there's fifty BBSes in my LATA alone"
A confuseopoly depends on an uninformed public. I'm sure there's some special reason for each of the 20 or so payment services, although I don't have the time and motivation to research. Confuseopolies are designed to screw the end user. So I'm inherently scared away from "payment services". Especially when simple cash is to fast, easy, incredibly cheap, and convenient.
Where we're at right now with payment services is roughly 80s BBS or 90s walled garden legacy services. "Wow, if the whole world were on this BBS or on compuserv then the whole world could talk together... but no there's fifty BBSes in my LATA alone"