The companies involved in payment card processing serve mutually exclusive roles and extract a share of the transaction fee. This fee is called “interchange,” and has been variously regulated by the European Union (Interchange Fee Regulation, April 2015), and the Federal Reserve (Durbin Amendment, July 2010).

Payment cards also mandate a secondary network provided by entities called “card associations.” Card associations work with payment processors to conduct the three broad stages of a payment card transaction: authorization (verifying funds in accounts on either side of a transaction), clearing (transferring funds between banks after the exchange of goods or services) and settlement (paying a merchant).

In order to accept payment cards, merchants incur disproportionately high processing fees which are often one of their largest operational costs.

In 2012, responding to these rising processing fees, some of the largest merchants in the US — including Walmart, Target, Best Buy, CVS and 7-Eleven — created a cooperative organization called Merchant Customer Exchange (MCX), with the charter of developing an ACH-backed payment instrument to avoid interchange fees. After three years of continuous merchant investment and delayed development, the MCX mobile app never exited a pilot phase.

Although it was successful at reducing merchant costs of processing, MCX was never able to deliver a compelling consumer value proposition. In 2017, JP Morgan Chase acquired the MCX technology to integrate with its existing Chase Pay system.

In the past decade, payment card processing fees have skyrocketed for two main reasons: first, because of an increase in fraud, including losses that are paid by issuing banks when they reimburse their customers for unauthorized charges; and second, because of the consumer demand for better card benefits and rewards on high-end credit card products.

The PDX platform and payments app will open up cryptocurrency to a vastly larger potential active audience and making it possible to freely and easily spend all traded cryptocurrencies for the first time through a single app. The PDX payments app will rapidly increase crypto mainstream adoption, while shifting the focus from speculation, to payments and investment.

Visit for more information:

https://pdxcoin.io/
https://pdxcoin.finance
https://twitter.com/PDX_Coin
https://www.reddit.com/r/PDXCoin/
https://t.me/PDXToken
https://www.facebook.com/pdxcoin/

Many single points of failure was originally published in PDXCoin on Medium, where people are continuing the conversation by highlighting and responding to this story.

PDX CEO Shane Rodgers met with Troika Media Group to discuss the launch marketing proposal for the Payments Application.

PDX Global is at the heart of global payments and digital banking platform that aims to allow hundreds of millions of retail users, institutions, merchants, vendors, and ecosystem partners to participate easily in the crypto economy with instant conversions between digital and fiat currencies. Through the upcoming virtual banking services and payment apps, all major crypto assets supported by the platform will become instantly liquid, and available across tens of millions of locations and online sites around the world.

PDX global mobile app for crypto-to-fiat payments is being developed with our development partner Unified Infotech powered by Polygon. PDX replaces Visa and other cards, works faster and cheaper, and its better for merchants by giving them instant settlement and fees slashed in half or more.

Visit for more information:

https://pdxcoin.io/
https://pdxcoin.finance
https://twitter.com/PDX_Coin
https://www.reddit.com/r/PDXCoin/
https://t.me/PDXToken
https://www.facebook.com/pdxcoin/

PDX CEO met with Troika Media Group was originally published in PDXCoin on Medium, where people are continuing the conversation by highlighting and responding to this story.

COMPANY > PDX Global

PDX Global is at the heart of global payments and digital banking platform that aims to allow hundreds of millions of retail users, institutions, merchants, vendors, and ecosystem partners to participate easily in the crypto economy with instant conversions between digital and fiat currencies. Through the upcoming virtual banking services and payment apps, all major crypto assets supported by the platform will become instantly liquid, and available across tens of millions of locations and online sites around the world.

The crypto shake-out is long past due. The $2 trillion hit to the industry has caused massive losses for both early investors and, unfortunately, for the smaller investors who followed suit.

The reasons for the shake-out have been written on the wall for years. A cowboy culture unfettered by any regulation gave rise to unreliable data, usurious fees, and poor service that resulted in investor distrust and cynicism. Every day, millions of investors interacted in good faith with crypto exchanges and market tracking sites but were stymied and even abused by those very same organizations who took their money.

There were no sheriffs in town. The SEC was trying to kill crypto and the CFTC was busy just getting up to speed, leaving it to the entrepreneurs themselves. Rather than thinking about how they could build a strong foundation — which could increase the size of the entire pie and their own share of it — the crypto bosses greedily attempted to scoop up cash and head for the exits.

Does this mean that crypto is going away, that investors will never see their cash again and that Bitcoin miners will be out of a job? Unlikely.

What we are seeing is that market forces are now injecting a measure of sanity and rationality into the sector. Yes, there will still be those who claim that the industry is built on thin air, and they point to the fact that these losses have had no real effect on our dollar driven economy. But in a year when the multiverse has taken on epic proportions in Hollywood, the crypto crash is a signal to us that we cannot afford to ignore the enormous opportunity offered by linking the two worlds.

Crypto offers too many benefits to simply disappear. The industry has been developing for 10 years, and the advantages are only now becoming apparent. Crypto tokens and the blockchain can provide a platform for social impact, allowing more equitable access to financial services to underserved populations, including affordable cross border payments. Fueled by crypto, the blockchain has begun to offer new beneficial services including speedy, secure and less expensive payment systems that can sidestep the slow and insecure systems we have had for 70 years.

Those holding crypto have long indicated a willingness to use it for everyday purchases. And the merchants are enthusiastic to have additional payment methods. A recent Deloitte survey found that 85% of merchants across a range of industries anticipate that digital currency payments will be ubiquitous in their respective industries within five years. And that 54% of responding retailers have already invested more than $1 million towards enabling digital currency payments.

Similar to the dot com meltdown of 2000, the current crypto shake-out will encourage more companies to create value through real products, services and advancements that not only create a larger market but a streamlined, cost-effective and stable market. For example, my company, PDX Global, is developing the first globally-capable mobile app to facilitate practical cryptocurrency payments via instant, no-fee transactions at stores and restaurants as well as online sites. Using peer-to-peer transactions via the secure blockchain we can bypass the antiquated and expensive payments systems used currently — avoiding middlemen, high fees and a substantial fraud risk.

A good stiff crypto winter should help the industry grow up. It will serve to bring basic decency and transparency into financial transactions that will benefit the consumers, the crypto companies, and exchanges. The requirements are not onerous. The exchanges can eliminate the zombie coins, tightly secure their networks to prevent coin theft, and give consumer investors an address, a phone number, and a live person to talk to. They can even reduce fees to bring more investors in so that increased volume can compensate for the lower fee income.

We are moving inexorably toward a more streamlined economy. Crypto is here to stay, as are the underlying architectures like blockchain. But during these turbulent times the industry survivors will be those who have the experience and wisdom to create value, just as in every industry.

AUTHOR > Shane Rodgers

Shane Rodgers is CEO of PDX Global, a worldwide payments and digital banking platform that is being built as an on-ramp to enable hundreds of millions of retail users, institutions, merchants and vendors and other ecosystem partners worldwide to fully participate in the crypto economy freely and easily with instant conversions and low fees.

Source: https://www.fintechna.com/articles/crypto-is-here-to-stay-but-we-need-adults-in-the-room/

Visit for more information:

https://pdxcoin.io/
https://pdxcoin.finance
https://twitter.com/PDX_Coin
https://www.reddit.com/r/PDXCoin/
https://t.me/PDXToken
https://www.facebook.com/pdxcoin/

Crypto is here to stay. But we need adults in the room. was originally published in PDXCoin on Medium, where people are continuing the conversation by highlighting and responding to this story.

Direct bank transfers are just one of the several steps involved in conducting a standard transaction with a payment card (e.g. a credit or debit card). In practice, the payment card authorization and settlement framework implemented throughout the United States and Europe involves the coordination of up to a dozen parties in order to transmit and guarantee funds.

Although payment cards offer universal acceptance and consumer benefits, they are prone to many single points of failure as well as the rising costs of fraud and incentive fees.

But nowadays this is an outdated payment system. No more debit or credit cards in any form. Being replaced by better, faster, and more secure blockchain technology.

🔥 PDX global mobile app for crypto-to-fiat payments is being developed with our development partner Unified Infotech powered by Polygon. PDX replaces Visa and other cards, works faster and cheaper, and its better for merchants by giving them instant settlement and fees slashed in half or more.

PDX app completely eliminates most card based fraud opportunities, and reduces charge back risk. Also makes it easy for merchants to accept because they don’t have exposure to the crypto side of the transaction unless they actually want to take crypto instead of fiat.

The main features of the application:
✅ Crypto to Fiat
✅ Send and Receive, including by direct phone-to-phone
✅ Global capability
✅ At-location payments on POS terminals
✅ Online payments
✅ Proprietary secure wallet function

What’s more, the PDX payments app will be usable in most future form factors of the metaverse without having to revert to the physical environment. Integrating PDX as a payments platform in the rapidly evolving Metaverse space, enabling our apps to evolve off-screen and as 3D experiences in the metaverse, as well as partnering to developing shopping, gaming, and gambling based content.

Visit for more information:

https://pdxcoin.io/
https://pdxcoin.finance
https://twitter.com/PDX_Coin
https://www.reddit.com/r/PDXCoin/
https://t.me/PDXToken
https://www.facebook.com/pdxcoin/

Feature-rich PDX payments app instead of traditional debit and credit cards was originally published in PDXCoin on Medium, where people are continuing the conversation by highlighting and responding to this story.

PDX’s primary objective is to capitalize on its crypto payment and virtual banking capabilities in the conventional world, we are building our technology and product base in anticipation of a fully functioning and heavily populated metaverse in the near future.

CAPITALIZE

✔️Capitalize on our global crypto payments and virtual banking platforms for consumers and SMEs

GLOBAL

✔️Global payments and digital banking

INVEST IN

✔️Forming long-term partnerships, joint ventures, and strategic alliances, and expanding our technology base

METAVERSE

✔️Developing leading edge payments capabilities, and developing metaverse content through joint ventures and alliances

Visit for more information:

https://pdxcoin.io/
https://pdxcoin.finance
https://twitter.com/PDX_Coin
https://www.reddit.com/r/PDXCoin/
https://t.me/PDXToken
https://www.facebook.com/pdxcoin/

😉Utilizing PDX✅ was originally published in PDXCoin on Medium, where people are continuing the conversation by highlighting and responding to this story.

https://www.tiktok.com/@ramdawg.eth/video/7121093564049804549

✅ New schedule for LBank Exchange listing
✅ Two big additions to our team
✅ Successful conclusion of a new round of capital raising
✅ New bank partnership
✅ New launch marketing campaign for the payments app
✅ Big new partnership with a POS group

Visit for more information:

https://pdxcoin.io/
https://pdxcoin.finance
https://twitter.com/PDX_Coin
https://www.reddit.com/r/PDXCoin/
https://t.me/PDXToken
https://www.facebook.com/pdxcoin/

📣Check out PDX Coin updates🚨with Ramy, he will tell you more about it😉 was originally published in PDXCoin on Medium, where people are continuing the conversation by highlighting and responding to this story.

📢🚀Lots of big Announcements coming from PDX this month including new schedule for LBank Exchange listing🔥two big new additions to our team🔥successful conclusion of a new round of capital raising💪🔥📣Also a new bank partnership🔥a new launch marketing campaign for the Payments App🔥and a big new partnership with a POS group that will bring us many major retail and merchants names, accepting the Payments App🤑

✅ New schedule for LBank Exchange listing
✅ Two big additions to our team
✅ Successful conclusion of a new round of capital raising
✅ New bank partnership
✅ New launch marketing campaign for the payments app
✅ Big new partnership with a POS group

Visit for more information:

https://pdxcoin.io/
https://pdxcoin.finance
https://twitter.com/PDX_Coin
https://www.reddit.com/r/PDXCoin/
https://t.me/PDXToken
https://www.facebook.com/pdxcoin/

📢BIG Announcements from PDX🔥 was originally published in PDXCoin on Medium, where people are continuing the conversation by highlighting and responding to this story.

Despite the underlying fraud vectors, funds transmitted over SWIFT, Fedwire, CHIPS, and ACH incur costs of approximately 18 billion USD every day. Additionally, transfers require three to five days for settlement, and up to 4 percent of payments fail due to technical reasons.

The blockchain brings several enhancements to these systems, namely cryptographically secure transactions, immutability, and data redundancy. For instance, Ripple, a prominent US startup, allows financial institutions to quickly settle cross-border payments using its xCurrent network, claiming a 60 percent reduction in net cost.

Remittance providers such as Western Union and Moneygram have also piloted using native Ripple blockchain tokens (XRP) for settlement. Using products such as these, we believe that blockchains have the potential to influence well beyond the primary layer of the global financial network.

Visit for more information:

https://pdxcoin.io/
https://pdxcoin.finance
https://twitter.com/PDX_Coin
https://www.reddit.com/r/PDXCoin/
https://t.me/PDXToken
https://www.facebook.com/pdxcoin/

Transaction inefficiency was originally published in PDXCoin on Medium, where people are continuing the conversation by highlighting and responding to this story.

Legacy infrastructure

The underlying technology of the global financial network is difficult to navigate, consisting of a variety of incompatible legacy protocols and standards; many of the current electronic settlement systems have remained relatively unchanged for 40 years.

For instance, Automated Clearing House (ACH) transactions in the United States are still conducted via fixed-width text files (with precisely 94 characters per line), uploaded to various FTP servers and downloaded at specific times of day for settlement. Until 2016, these transactions cleared the following business day, when NACHA announced an update allowing for same day payments. This “upgrade” involved no changes to the underlying specification; rather, banks were required to process transactions twice instead of once daily.

Other clearing systems include the Society for Worldwide Interbank Financial Telecommunication (SWIFT); the New York Clearing House Association’s CHIPS network; and the Federal Reserve’s Fedwire network.

Each involve substantially more robust checks and balances than ACH and benefit from greater speed, increasing the complexity of the global financial system. Together, these systems transmit a staggering 3.6 quadrillion USD in global volume.

Daily processing volume

SWIFT
5 trillion USD
30.7 million transactions

Fedwire
2.1 trillion USD 528,000 transactions

CHIPS
1.4 trillion USD 430,000 transactions

ACH
120 billion USD
70.1 million transactions

Fraud vulnerability

Despite the additional supervision involved in these ledger systems, their protocols and networks are vulnerable to fraud. In a 2016 survey of the largest financial institutions, “cybersecurity concerns” was the most- responded challenge that bank executives said they faced in their day-to- day role, and many such instances of theft have recently become public.

In 2016, thieves made off with 81 million USD by impersonating Central Bank SWIFT operators. Throughout a single weekend, they routed four transactions through the New York Fed’s mostly automated system, moving 101 million USD from Bangladesh to the Philippines. It was only when a New York Fed official caught a thief’s misspelling of the beneficiary name that they were able to alert Bangladesh Bank officials and prevent the transit of an additional 920 million USD.

In 2018, a larger heist was discovered involving the Punjab National Bank and promissory “letters of understanding” issued through SWIFT, where funds were laundered by using a password provided by bank officials for direct access to the SWIFT network. Letters of understanding were issued for the equivalent of nearly 1.77 billion USD, and they were not correlated with the lesser amount that was registered via SWIFT in the bank’s holdings. Despite repeated warnings against fraudulent SWIFT messaging from the deputy governor of the Reserve Bank of India, the scam went undetected for nearly seven years.

Visit for more information:

https://pdxcoin.io/
https://pdxcoin.finance
https://twitter.com/PDX_Coin
https://www.reddit.com/r/PDXCoin/
https://t.me/PDXToken
https://www.facebook.com/pdxcoin/

The present state of digital payments Part 2 was originally published in PDXCoin on Medium, where people are continuing the conversation by highlighting and responding to this story.

Digital payments take many forms around the world and move a collective 10 trillion USD + each day. The majority of these transactions are conducted using one or any combination of three instruments:

Direct bank transfer e.g., SWIFT, Fedwire, ACH

Global and domestic bank clearing networks that move 3.6 quadrillion USD in 102 million transactions per year

Common throughout Europe for all transaction sizes, and in the US and Canada for large and commercial transactions

Payment cards e.g., Visa, American Express

Plastic cards leveraging credit and debit networks to move small purchases of 26 trillion USD in 257 billion transactions per year

Common in most geographies throughout the world for small transactions, especially the US, Canada, Europe, and Asia-Pacific

Mobile wallets e.g., Apple Pay, Google Pay, Alipay

Mobile apps that proxy traditional payment instruments to move more than 8 billion USD in 300 million transactions per year

Common in Asia-Pacific for all transactions (via bank transfers); gaining broad acceptance in the US, Canada, and Europe

Direct bank transfer

In general, non-cash payment instruments are underpinned by a traditional account held at an insured financial institution, such as a commercial bank or credit union. Whenever money is exchanged via one of these payment instruments, whether electronically or by an offline ledger, it is ultimately transmitted between financial institutions. To reconcile these payments,
a variety of domestic and international standards are used for direct bank transfer between businesses and consumers (also sometimes called “electronic funds transfer”), such as ACH/IAT, CHIPS, SWIFT, RTGS, Fedwire, BEPS, NEFT, and KFTC.

Despite their ubiquity, each of these systems rely on legacy infrastructure that remains vulnerable to fraud and transaction inefficiencies.

Visit for more information:

https://pdxcoin.io/
https://pdxcoin.finance
https://twitter.com/PDX_Coin
https://www.reddit.com/r/PDXCoin/
https://t.me/PDXToken
https://www.facebook.com/pdxcoin/

The present state of digital payments Part 1 was originally published in PDXCoin on Medium, where people are continuing the conversation by highlighting and responding to this story.