RE:How many merchants?Could this be because there are layers of merchant service providers (which Bankcard is under Wells Fargo) or ossibly there are 7000 that might be candidates for Ledger pay.
The truth is that the MSPs/ISOs have been selling merchant and client data for decades as there is no real privacy controls on any bit of the data these institutions hold. I even read that Gooogle gets the data from Visa/MC to measure the effectiveness of their ads. Can you imagine how much data they must sift through with all their magic algorithms.
Basic thing is you need merchants and merchants who want the data formats QUIS is offering, and then apparently you have the potential (QUIS, that is) for 4 levels of income from the merchants. Not to forget that loyalty programs offer the same level of data based on the receipts and membership data, and Ledgerpay is competing with that business.
So, all participants are doing some data selling at possibly many levels and it is clear the only way for QUIS to get in with their offering was to buy an MSP/ISO, or offer Ledgerpay under a white label to an MSP. But why wouldn't they be already doing as service like Ledgerpay, direct to merchants. Anyone? So, how lucrative will it be or will it be that Ledgerpay has an incredible value by itself in being a notch above what everyone else is able to do. Anyone?