You miss the value of MYEC IMHO.
1)'The value of credit cards is people pay later not now.'
We're not talking about credit purchases, but ones now done by check. The merchant will drive users to MYEC because they save money. If you got 5% off to download and use the WalMart EasyPay app, wouln't you use it? How about on gas? How about groceries? All these merchants pay gazillions in fees to Visa and M/C. If they can migrate 10 or 20% of their customers who can pay cash and like savings, you bet they'll be a MYEC customer!
2) '85% use quickbooks for accounting- not card processing.'
Not sure of your number, seems too 'round' to me and maybe just an educated guess, but even so, the point of value to MYEC is the merchant doesn't have to buy additional software! Look at smart phones, they aren't just phones anymore...in fact, if they just placed calls, nobody would buy them! People adapted them in hundreds of new ways, and each of those new ways made their lives simpler and saved them money. Same will happen with MYEC.
3)'First Data also has contracts and partnerships with just about all the major banks except for Chase and a few others.'
So? First Data is old school and markets to pre-Check21 purveyors. Will MYEC be adopted universally tomorrow? No. But disruptive technology is always adopted quicker with each succeeding generation. Count on it.
AI
