commerce

credit card processing fees for merchants are ~2.9% + a fixed fee, usually $0.30 or less. debit is much more reasonable with no % fee and only a fixed fee, which is why some merchants are debit/cash only

so even if onchain payments on a cheap L2 like /base aren’t “free” since the merchant needs to off-ramp USDC with a spread of 0.5-1%, this is still a huge improvement for their payment processing

put simply: crypto is a meaningful improvement for merchants vs. legacy systems

Great to see you diving into the payments sector! Understanding this field is crucial in today's digital economy. Keep up the learning!