Over at DailyLit (my wife’s company), some books are free and others require payment. Right now, DailyLit accepts credit card and PayPal. From that I have some good first hand experience with online payments. Based on that here are some of reasons why the existing solutions are painful and ready for disruption: 1. The fees are outrageous. Not only do the card companies take a cut but you also pay for a gateway fee. With PayPal you just pay them, but again it’s a hefty fee. Now it is well know...

Over at DailyLit (my wife’s company), some books are free and others require payment. Right now, DailyLit accepts credit card and PayPal. From that I have some good first hand experience with online payments. Based on that here are some of reasons why the existing solutions are painful and ready for disruption: 1. The fees are outrageous. Not only do the card companies take a cut but you also pay for a gateway fee. With PayPal you just pay them, but again it’s a hefty fee. Now it is well know...