Is Solana the Next Square-Style Payment Platform?
Square, the merchant payment platform from Block (NYSE: SQ), has become a go-to payment solution for thousands of businesses big and small. The network can accept Visa, Mastercard, American Express, and Discover credit and debit cards, making electronic payments easy for businesses.
But these payments could eventually move to a blockchain that's faster and less expensive than credit and debit cards today. Is Solana (CRYPTO: SOL) the future payment network that could surpass Square?
Square's standard fees are 2.6% of each transaction, plus a $0.10 flat charge. So, if you spend $100 at a merchant that accepts credit cards with Square, they only keep $97.30 of that transaction. These fees go to companies like Block, along with banks and credit card companies.
Source Fool.com
