The first is that peer-to-peer payments usually are done with different and incompatible apps in different countries. The problem is obvious in Europe with its many small countries. It is hard to instantly split a small cost if those who wish to do so do not live in the same country or do not happen to use an app like Revolut that solves this problem but only among those who use their app.

The second is that there is little user choice. There are limits and restrictions that are supposed to protect users but that the user has limited control over. Take as an example the expiration of credit cards, which becomes a cadence for renewing payment details for subscription services. While I am sure that this benefits many, some do not wish to rotate their payment details and cannot opt out. It is decided for me and I have no choice but to rotate all my payments details every few years.

The third is that card payments are expensive. These payments incur a fee of some percentage of the total amount. Although it is not visible to the consumer, it is still real and it is the consumer who pays in the long run.