Hey payment disrupters, you might be solving the wrong problem!

What is the point of the awesome ApplePay if I cannot use it to get my daily dose of awesome coffee, from that shop around the corner. The consumer payments industry is overflowing with innovations and disruptions in the retail payment space. The sole aim of these innovations to replace the cards in your wallet to apps on your phone.

But when it comes to getting that coffee or bagel from that small (and hipster) store I like, I often find myself fumbling my wallet looking for cash. I hate those “$5 Minimim” signs next to Visa or AmericanExpress logo. This brings up the following questions:

Why don’t these mom-and-pop stores still not accept credit cards?

Is there something wrong with the transaction-fee model of the Visas and AmExs of the world that prohibits these small business owners to adopt them? They clearly understand, yet still value cash over convienince of their customers.

Or, is the thinking of small businesses that prevents them to adopt this model of giving commission to others(banks) for smaller sales?

While the Sqaures of the world have connected and made it super easy for small businesses to start and accept payments, with built in incentives, why do a good majority still have a $5 or $10 minimum? Is it an education issue?

The above are the problems in the payment ecosystem that needs to be addressed. A disruption in the existing payment acquisition model only can make way for these awesome payment mechanisms.