Ideas in this flowchart

• Payment-card systems create both commercial burdens and institutional value.
• Payment-card operations and fraud impose substantial costs on merchants.
• Payment-related friction can hinder growth, efficiency, and commerce.
• Banks and payment networks remain necessary for ordinary digital-money transfers.
• An independent institution verifies identity and the right to use funds.
• These intermediaries create institutional trust.
• Removing intermediaries could reduce fees.
• Lower fees could release money for investment in businesses, products, and jobs.