Investing @m12vc in B2B SaaS, fintech, AI; Past: @getVGS; head of @Visa Ventures; stats nerd, @stanford fan; views my own, natch; 🧵 app: pberg
Apr 26, 2021 • 11 tweets • 3 min read
A walk down memory lane on the creation of the “payfac” (ie “payment facilitator”).
I was at Visa when the “payfac” category was created. Before payfacs there was only such a thing as “Internet payment service provider,” or IPSP. The first to be an iPSP? PayPal. 1/
The iPSP label was essentially created to allow PayPal to do what it was doing (processing payments on behalf of sub-merchants) within network (V/MA) rules.
At the time some ppl wanted to shut them down. Others thought V/MA should buy PayPal. As we know, neither happened 2/
Mar 26, 2019 • 15 tweets • 4 min read
Seeing so many bad/misinformed hot takes about Apple Card, I might as well lend my payments perspective.
Trigger warning ahead for Apple True Believers. 😂
a thread... 🍎 💳
First off, to appease the fanboys, this is a pretty good offering from Apple. Some genuinely novel features, wrapped in the typical Apple sexiness/walled garden.
But... it’s far from revolutionary.
Aug 22, 2018 • 4 tweets • 2 min read
Excited for my friend & generally awesome human @alexadelman to launch @trylolli today. It lets you earn bitcoin while shopping online!
(making crypto more approachable to a mainstream audience in the process) medium.com/@alexadelman/l…
Aside from making bitcoin accessible to more people, @trylolli does something really interesting in the rewards & loyalty space - it introduces a rewards currency that isn't limited by a walled garden.
