backpack™

/backpack128

your go to source for self banking

5403

oh no

my glorious contribution to /backpack today

Interesting talk today with an on-ramp acquiring partner. Out of 5,000 US banks, only 100 are sponsoring fintech or crypto either for acquiring or banking, issuing. Thats 2% of all US banks. That 2% has received 80% of SEC notices in 2024.

@so crushing the partner webhooks this morning, this represents our ability to turn all streams of USD in to USDC without anyone having any conversations about crypto

Peak at the upcoming iOS account release, live on sepolia now, using @litprotocol to power the keys and signing is gonna be exactly as their name implies, 🔥

Starting to get to some QoL features in the UI, we’re almost having fun. Will start flashing some screenshots this week I think

Getting closer

I should be able to have subscriptions on a single card and expectations that the charge wont go through if the subscription price deviates from the sign up price

Chargebacks are a measure of fraud in the system but they’re setup as dark patterns. Most people seem to use them in cases where they made a bad choice and they wish they hadn’t. This should never happen, it costs all of us money

I know a company that was using Stripe. The business sold $300k worth of goods and services to their customers. Stripe decided they didn’t like the business. Stripe returned $300k to the customers even though the customers had received their intended goods and services. The business essentially just ran a $300k marketing campaign directed by Stripe

Lee have this, the goal is to make money work better. Merchants have problems with money, consumers don’t. Crypto needs to be a hidden ingredient behind the scenes making things work, crypto is not the star of the show

https://x.com/jonwu_/status/1808486596297015614?s=46

Time to start a self banking streak

Got the 12 year old reviewing onboarding content for self banking

Banks had overdraft fees, we will have rare self banking livery, we are not the same

The team cooking on a Saturday has me 😍

While we don't suggest investing in cumrocket (well maybe), we do share the overall sentiment towards predentary bank fees for those who are struggling to make ends meet. $10 fee for being poor? Fuck off banks.

time to onboard web3 into web2 🚀

Your card rewards depend on dark patterns, is that the type of relationship you want with the primary service provider who helps you use your money?

They’re only providing these benefits because, by the numbers, they’re too difficult for you to derive value from. If that changes then they will swap lies on you

The php package manager is so hands on it makes me feel uncomfortable at work, someone needs to call HR @links ?

only spend in USD

only save in crypto

Summary of my Hong Kong tailor doing business on US trips:

Customer:
International txn fee: 2-5%

Merchant:
Processing fees: 4%
2.5% exchange rate from us card swipe to HKDollar bank account
3-4 day settlement to HK bank acct (can't directly spend in US)
Must use AMEX on US trips, so 19% interest on all expenditures

Talking to my tailor today, he's in the states doing fittings. How much interest would there be if I got him to use our us credit card -> USDC payments system, and if he also took USDC native as payment? We might build him something in frames on here too.

When a multi generational zero tech logger in the northwest says "man banks really suck tell me more about this bankless crypto thing", its time for tradfi to take a step and wonder wtf they're doing.

Dude, so stoked! @jimmysb1 🙏

I wish I would have read the label before I took 1/3 of the energy one, whoops

If you’re right handed, do you primarily hold the phone with your left or right hand?

/backpack™