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Campbell Harvey on the Future of Finance (Podcast)

Masters in Business

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The Cost of Convenience: Credit Card Fees and Payment Innovations

This chapter examines the historical roots and ongoing impact of the 3% credit card transaction fee, considering factors like security and technological infrastructure. It contrasts traditional payment methods with emerging digital alternatives such as Apple Pay, exploring the motivations behind user adoption and the financial industry’s responses. Additionally, the chapter highlights the implications of decentralized finance for underbanked populations, illustrating how innovations in mobile technology can bridge gaps in access and provide stability in economically challenged regions.

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